Money laundering

Nexway, based in France, allegedly processed payments in its own name on behalf of a tech support scam and telemarketing company from 2016 to 2020.

Properly executed, the new anti-money-laundering program has the potential to cripple laundering networks by altering the landscape for financial services professionals.

The only way for Fincen to assure that banks have the tools to identify illicit shell companies is for the agency to verify the information in its new beneficial ownership database.

A judge said he would approve Deutsche Bank's $26.3 million settlement of a lawsuit that accused the bank of misleading investors about how thoroughly it vetted clients, including Jeffrey Epstein and Russian tycoons.

Authorities gained from Russian sanctions legislation helped law enforcement build the case against Hong Kong-based exchange.

Thieves have become adept at exploiting digital vulnerabilities, conducting heists that resulted in more than $3 billion in losses last year.

Burdensome regulations have decimated correspondent banking relationships, harming the most vulnerable in the U.S. and abroad.

Danske Bank A/S admitted to fraud and agreed to forfeit $2 billion to end a long-running U.S. probe into money laundering at its Estonia branch, an embarrassing episode that led to the ouster of top management and pushed thousands of customers to leave.

Santander UK was fined £108 million ($132 million) by the U.K. financial watchdog over repeated anti-money-laundering failures that included a series of missteps over its monitoring of hundreds of millions of pounds of suspicious funds.

Marijuana shops across the U.S. are rushing to find alternative ways for customers to pay after networks that supported a popular workaround to the banking system began to shut down last week.