Money laundering

New rules from Treasury's Financial Crimes Enforcement Network will mandate reporting for non-financed real estate transfers and expand anti-money-laundering requirements for investment advisors.

The New York State Department of Financial Services issued a consent order against Finland-based Nordea Bank, citing deficiencies related to the Bank Secrecy Act and anti-money-laundering requirements.

The Biden Administration firmly rejects proposed cuts to key financial oversight and consumer protection agencies in the Republican-backed financial services appropriations bill for fiscal year 2025.

The Treasury Department's Financial Crimes Enforcement Network issued a proposal mandating banks enhance their anti-money-laundering and counterterrorism financing programs, including measures to address fentanyl trafficking and Russian money laundering.

The co-funder and CEO of Minerva, a regulation technology platform, is one of American Banker's 2024 Most Influential Women in Fintech.

For a country that relies on the energy and drive of immigrants to the extent that the U.S. does, it's surprisingly hard for them to get bank accounts. It's time to reassess what we mean by money-laundering risks.

In this month's roundup of top banking news: a Supreme Court ruling on CFPB funding, TD Bank's money laundering woes, an FDIC workplace probe reveals a culture of misconduct and more.

Executives at the Toronto-based bank said last year that they planned to add 150 branches in the United States. But when pressed on Thursday, they could not say how much they'll scale back their ambitions due to investigations over TD's anti-money laundering practices.

Executives at the Canadian bank, which recently took a major provision for potential fines, say they're working to shore up anti-money laundering controls. At the same time, they're preparing employees and investors for an expensive slog as they work to satisfy U.S. officials.

A veteran Canadian bank analyst says Toronto-Dominion Bank's role in an alleged money-laundering scheme has made the "worst-case scenario" more likely — a huge fine for the lender and years of restrictions on its U.S. growth.