AML

IBM unveils new Watson tools to help banks manage compliance, AML

06/14/17

IBM is set to announce new tools on Wednesday aimed at reducing the compliance burden of financial institutions and sifting through the mounds of data they collect by using Watson, its cognitive computer.

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Wells revamps retail unit again; Goldman hears it from protestors

05/31/17

Wells Fargo streamlines Western unit, shifts executives as post-scandal overhaul continues; Goldman Sachs gets grief for "cynical" purchase of Venezuelan bonds at deep discount.

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Deutsche Bank fined $41 million for money-laundering lapses

05/30/17

The bank agreed to improve anti-laundering controls deemed "unsafe" by the Fed, including oversight of so-called mirror trades that may have helped foreign customers hide large sums of money.

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Breaking Banks: AI, fintech and regtech

05/26/17

Jo Ann Barefoot, a former deputy comptroller of the currency, discusses her regtech startup Hummingbird.

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'Costs are costs': Comments of week

05/26/17

Readers weigh in on a proposal for encouraging small bank installment loans, a firm that uses AI to reduce false alarms, what security improvements are needed for sharing customer data, and more.

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House Dems seek bank documents of Trump accounts

05/24/17

House Democrats are asking Deutsche Bank Chief Executive Officer John Cryan for documents related to two internal reviews, including one into accounts held by President Trump and his family.

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Regtech startup's mission: Find real terrorists, avoid false alarms

05/23/17

Merlon Intelligence, a startup launching Wednesday, plans to offer banks AI software that will help them with their expensive compliance responsibilities.

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Citi settles Banamex probe; bitcoin surges again

05/23/17

Bank agrees to pay $97 million as DOJ drops criminal charges involving money laundering at Citi uni; digital currency price roars past $2,200 as Japanese catch the bitcoin bug.

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'A needle in a stack of needles': Using AI to detect money laundering

05/23/17

David McLaughlin, founder and CEO of QuantaVerse, discusses how artificial intelligence can improve anti-money-laundering compliance; the problems of de-risking and "defensive filing" of suspicious activity reports; the Clearing House's proposal to reduce banks' AML costs; and more.

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Citi affiliate settles AML violations probe tied to Mexico-bound remittances

05/22/17

Banamex USA will pay $97.4 million to the Justice Department over widespread anti-money-laundering abuses.

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