Documents filed in connection with a $586 million settlement reveal how certain agents for the global money transmitter enabled extensive fraud and money laundering.b
The global money transmitter will pay $586 million and implement an anti-fraud program in order to resolve allegations that it enabled widespread misconduct by some of its employees.
Justin Newton, founder and CEO of Netki, discusses the barriers to commercialization of bitcoin, how his startup is trying to solve the problem, why private blockchains are useful and why public ones will eventually become more valuable.
Violations of Bank Secrecy Act and anti-money-laundering compliance remains a hot topic for financial institutions as regulators can bar them from branch building and bank acquisitions. Here are some notable regulatory actions that are still unresolved.
Documents from Massachusetts complicate the narrative that marijuana businesses either can’t get bank accounts or are only being served by small institutions.
Attorney General-designate Sen. Jeff Sessions R-Ala., could pose a roadblock for marijuana businesses seeking financial services, but might also end a controversial Justice Department program targeting payment processors and financial institutions.
