News Topic: AML

The prospects are tough for Thomas Borgen of Danske Bank, whose Estonian unit has been described as a central pipeline for laundering as much as $9 billion between 2007 and 2015 in dirty money, mostly from Russia. ... Read full article

The agency said it would not apply the data collection requirement for existing accounts that automatically renew or roll over, such as certificates of deposit or commercial credit cards. ... Read full article

The financial press ponders how a replay of the 2008 crisis can be avoided; losing HNA's 7.6% stake may be a blessing in disguise, but DB's funding costs remain a worry. ... Read full article

Agency’s first supervisory report under Mulvaney finds little change; the nonbank lender surpasses Citigroup and Bank of America in home loans. ... Read full article

It is critical that banks blend data science and their industry knowledge to better identify and mitigate compliance risk, says one director at Promontory Financial Group. ... Read full article

John Gerspach is scheduled to leave next March after 10 years and be succeeded by Mark Mason; ING will pay nearly $900 million for failing to stop money laundering by clients. ... Read full article

Enforcement actions are on the rise despite recent rollbacks of regulations. Fair lending, money laundering compliance and CRA remain focal points for examiners. ... Read full article

IBM claims that by monitoring customer behavior first and foremost, banks can make suspicious activity reporting far more accurate. ... Read full article

Rep. Emanuel Cleaver, D-Mo., says he is concerned that banks are freezing accounts of customers if they aren't providing citizenship information. ... Read full article

Bci Miami is one of the first banks in the U.S. to publicly acknowledge using AI this way, when many still consider the technology to be new, risky and unsanctioned by regulators. ... Read full article

U.S. authorities are forced to take action on some shady dealings up north; the Systemic Risk Council says weaker capital rules could deflate bank equity. ... Read full article

But data privacy is likely to deter banks from partnering with the social media company; the online listings company wants to "reshape" the market. ... Read full article

The bank's predicament suggests that the Trump administration's hard-line stance on immigration can cause headaches for financial institutions. ... Read full article

The unnamed customer, who was on a list of suspects involved with weapons of mass destruction, used an HSBC credit card to make 12 payments in the second quarter, the company told shareholders Monday. ... Read full article

Bankers at Sonoma Valley Bank were convicted of bank fraud, money laundering and other offenses. ... Read full article

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. ... Read full article

Anchor will sell itself 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. ... Read full article

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