AML

‘Doesn’t Congress have more important things?’: Comments of the week

04/21/17

Readers sound off an attempt to block prepaid regulations, threats to consumer privacy, FSOC’s political bent, the proper use for SARs, and more.

[more]

Should banks be criminally liable for not reporting fishy emails?

04/19/17

Unlike other “suspicious activity report” categories, a new proposal to add a “cyber-event” category would requires institutions to detect and report digital mischief whether directed at a customer’s account or the bank itself.

[more]

'This is child's play': Comments of the week

04/14/17

Readers weigh in on a notable OCC personnel change, the Scottrade breach, the ability of corporate owners to still be anonymous and more.

[more]

De-risking shows failure of AML teams to innovate

04/12/17

Banks tend to blame regulatory costs for de-risking without being honest about the need to improve anti-money-laundering procedures.

[more]

Banks still spooked by bitcoin, Wells lawsuit shows

04/11/17

A legal dispute between Wells Fargo and one of the largest bitcoin exchanges underlines persistent doubts U.S. banks have about participating in digital currency.

[more]

State incorporation laws: Good for crooks, bad for banks

04/10/17

The allowance by some states for companies to incorporate without disclosing beneficial owner information significantly hampers anti-money-laundering efforts and drives up bank costs.

[more]

Are human traffickers hiding in your bank's data?

03/29/17

Data and analytics tools can help banks detect financial patterns that may indicate that human trafficking is occurring.

[more]

U.S. banks brace for possible trade war with Mexico

03/22/17

Community banks, which could be the hardest hit if economic tensions between the U.S. and Mexico escalate into a tariff battle, are urging policymakers to refrain from rash action, and big banks are already trimming exposures.

[more]

Laundered Russian cash flowed through major banks: Report

03/20/17

Cash that flowed from Russia through a vast money-laundering network sometimes ended up passing through the world's largest banks, including Citigroup, Bank of America, and HSBC, the Guardian reported, citing a cache of financial records it reviewed.

[more]

Is big-bank plan to reduce AML costs workable?

03/17/17

Some in the industry are faulting The Clearing House Association's plan to make anti-money-laundering rules more efficient.

[more]