Money laundering

The roster of potential witnesses at the trial of President Trump's former campaign manager includes current and former employees of Citizens Financial Group, Banc of California and The Federal Savings Bank.

In a 2015 enforcement action, the San Francisco Fed said it had identified problems with the Pasadena, Calif., bank’s BSA and anti-money-laundering compliance programs.

Anchor will be sold to FS Bancorp after agreeing to terminate a deal with Washington Federal. The original deal had been delayed as Washington Federal dealt with BSA issues.

The Bank Policy Institute was formed following the merger of The Clearing House Association and the Financial Services Roundtable.

Succession plan could be formalized this week; bankers may be getting nervous about extending construction loans.

The Treasury secretary told lawmakers that the government needs “to strike the right balance” on Bank Secrecy Act requirements while determining the best way to collect details about account holders.

A money-laundering scandal at Denmark's largest bank has prompted increased regulatory scrutiny at larger banks, so criminals may try to filter dirty money at smaller institutions, a regulator warned.

One firm's inability to access bank data shows how fragile fintechs can be; payments processor Square quietly withdraws bank application; turnover of chief risk officers is on the rise; and more from this week's most-read stories.

The fundraising is a sign of the rise in the anti-money-laundering market, which is expected to reach $4.26 trillion worldwide in less than a decade.

Both South Korea and Japan, for example, are crypto-friendly countries, but they’re also cracking down on anonymous cryptos, citing money laundering risk, according to Bob Rutherford, CEO and founder of Hedge.

Theft and money laundering are both thriving in the crypto world, according to a report released Tuesday by CipherTrace.

The company continues to be restricted from pursuing acquisitions until the Federal Reserve lifts its enforcement order requiring it to strengthen anti-money-laundering controls.

The class-action suit filed on behalf of people who lost money in the scam accuses Bank of America of failing to spot suspicious activity, including deposits of hundreds of thousands of dollars into accounts with small or negative balances.

With more permanent fixes not yet gaining enough traction, recent attempts to clarify marijuana banking rules through appropriations are also falling flat.

The company said the aim of a redesign and additional automation is to make its compliance software easier for bankers to use.

The House Financial Services Committee was scheduled to vote on legislation to modernize anti-money-laundering rules, but the latest version of the bill excludes a key provision involving the collection of beneficial ownership information.

From a major CFPB deadline to a long-anticipated fintech report, there's a lot to watch for in the days to come.

From a major CFPB deadline to a long-anticipated fintech report, there's a lot to watch for in the days to come.

The legislation unveiled this week left out a requirement — included in an earlier version — for new companies to report their true owners.

In his inaugural hearing as comptroller of the currency, Joseph Otting defended his decision not to publicly rebuke banks for Wells Fargo-like problems.