-
The Financial Crimes Enforcement Network Tuesday proposed a rule to include investment advisors in the compliance regime under the Bank Secrecy Act, aiming to close regulatory gaps exploited by criminals.
February 13 -
The Treasury Department's Financial Crimes Enforcement Network fined a New York credit union employee $100,000 Wednesday in connection with a scheme to launder $1 billion using armored trucks and the credit union's Fed master account.
February 1 -
January is Human Trafficking Prevention Month, and the financial services industry should take the opportunity to step up for survivors.
January 22Moore & Van Allen -
The leader of the Financial Services Forum takes issue with a recent BankThink article that challenged the industry's claims about proposed rules for implementing the Basel endgame capital requirements.
January 19Financial Services Forum -
The Federal Reserve and New York State Department of Financial Services fined the Industrial and Commercial Bank of China for violations related to a lack of internal controls for confidential supervisory information and anti-money-laundering compliance failures.
January 19 -
Past crises have created opportunities for criminal organizations to inject their funds into the legitimate banking system. Bankers can't allow that to happen again.
January 19 -
Who counts as a politically exposed person, or PEP, is different in different jurisdictions. Uniformity in the identification of people considered a higher risk for money laundering would ease compliance headaches for everyone.
January 17ComplyAdvantage -
Banks cannot shrug off the impact of sudden account closures as inevitable collateral damage involved in fighting money laundering.
December 27Tal Solutions -
Bank customers' complaints of sudden account closures track a rise in automated anti-money-laundering decisions and possibly outdated AML rules.
December 4 -
The platform will allow banks to share the names and account information of suspected scammers almost in real time. The American Bankers Association is set to test the system with a group of 20 pilot banks early next year.
November 28