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


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


Should banks be criminally liable for not reporting fishy emails?


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.


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


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


De-risking shows failure of AML teams to innovate


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


Banks still spooked by bitcoin, Wells lawsuit shows


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.


State incorporation laws: Good for crooks, bad for banks


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.


Are human traffickers hiding in your bank's data?


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


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


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.


Laundered Russian cash flowed through major banks: Report


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.


Is big-bank plan to reduce AML costs workable?


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