Financial crimes

Citi hit hardest as EU fines banks $1.2 billion over foreign exchange


Royal Bank of Scotland and JPMorgan Chase were also among the five banks that agreed to pay fines for colluding on foreign-exchange trading strategies.


Wells contacts Bridgewater co-CEO; 1MDB suspect discussing plea deal


Eileen Murray has talked about leaving Bridgewater; A deal with Roger Ng could lead to charges against Goldman and its employees.


To strengthen AML protections, strengthen sales practices


Banks need to ensure those building new business are driven to look for evidence of illegal activity.


Could Deutsche Bank probe be an opening for AML reform?


It remains to be seen whether anti-money-laundering provisions will get a deeper look this Congress or whether political optics will divide lawmakers on moving ahead with changes.


CFPB has too much flexibility in assessing fines


The bureau should adopt a clear, consistent framework for determining civil money penalties against financial firms.


Is Wells Fargo stuck in the denial stage of recovery?


Since Wells Fargo’s phony-accounts scandal broke in 2016, the bank has appeared contrite in public. In private, it’s a different story.


Warren doubles down on ending ‘too big to jail’


The Massachusetts senator introduced legislation Wednesday that would require executives of large corporations to serve jail time when their companies commit crimes, including for violations of civil law.


CEO of failed credit union says examiner past helped fuel fraud


Edward Rostohar was arrested after his wife informed authorities he stole from CBS Employees Federal Credit Union and was preparing to flee the country.


Case dismissed against Barclays trader; AML reports snare another bank


The decision shows how hard it is to prosecute an individual banker; reports say Nordea, the Nordic area’s largest bank, handled suspicious transactions.


Fed’s stance on trade secrets could mean more banker bans


Bankers should pay attention to a recent case in Wyoming in which regulators have sought to bar two executives for misusing confidential bank information for the benefit of a rival institution.