Financial crimes

House banking panel to examine Wells Fargo, CFPB in March


The House Financial Services Committee will hold eight hearings next month, looking at Wells Fargo's recent consumer protection scandals, a reauthorization of the flood insurance program and more.


AML enforcement needs more whistleblowers


Technology-driven systems aren’t enough to root out anti-money-laundering violations. Congress should consider creating a program that would encourage those with knowledge of illegal behavior to come forward.


Texas community bank falls victim to phishing scam


CBTX said an unauthorized person obtained personal information for about 7,800 customers.


Barclays’ penalty for whistleblower case; 1MDB case expands


Bank hit, but CEO Jes Staley escapes NYS fine for trying to unmask a whistleblower; Malaysia will pursue criminal complaints against Goldman in other countries.


Ex-Wilmington Trust president gets six years for hiding bad loans


Richard Harra was also fined $300,000 for painting a false picture of the bank’s financial health at the height of the financial crisis.


Goldman charged in Malaysia scandal; banks face differing challenges


Malaysia files criminal charges against Goldman Sachs over 1MDB; Wall Street banks hit by market volatility while small banks face margin compression.


Banks network to flag human traffickers


Bank of America and several other large U.S. financial services companies, as part an effort organized by the Thomson Reuters Foundation and Western Union, have published resources to help smaller banks spot signs of forced labor and kidnapping.


Can this tech make banks better at spotting money launderers?


IBM claims that by monitoring customer behavior first and foremost, banks can make suspicious activity reporting far more accurate.


Manafort turned to Kushner in bid to get banker a Trump job


Paul Manafort turned to Jared Kushner for help in an attempt to secure a Trump administration job for a Chicago banker at the center of Manafort’s fraud trial.


CEO Calk conspired with Manafort to defraud his own bank: Prosecutors


Steve Calk, the head of The Federal Savings Bank, was a "co-conspirator" in an effort to defraud the Chicago bank, a prosecutor said at the trial of former Trump campaign chair Paul Manafort. Could Calk be charged with a crime?