Money laundering

Bitcoin ATMs show gap in EU's money laundering rules, police say

07/11/19

A Spanish effort to prosecute a gang that used Bitcoin automated cash machines suspected of being a front for illegal-drug payments has exposed a hole in European anti-money-laundering controls, law enforcement authorities in the country said.

[more]

Bank CEOs wanted after wave of departures in Europe

07/05/19

Executive searches are hard enough, but a shortage of qualified candidates with strong resumes will make filling those jobs that much more challenging.

[more]

Card fraud fuels criminal activity. Is industry doing enough to stop it?

06/25/19

Researchers found that stolen payment data has been used to finance terrorism, human trafficking and other organized crime. Their conclusion that card fraud needs to be taken more seriously by banks and card networks drew pushback from the financial industry.

[more]

Senators seek to reassure small businesses about AML bill

06/20/19

While a bill to require firms to identify their owners has gained bipartisan support, some small companies argue it is burdensome and would subject them to harsh penalties.

[more]

Deutsche Bank reportedly being investigated by U.S. over money laundering

06/20/19

Deutsche Bank is being investigated by U.S. federal authorities for potential lapses in money laundering compliance, The New York Times reported, citing unidentified people with knowledge of the inquiry.

[more]

States could solve beneficial ownership issue: OCC's Otting

05/20/19

Banks would be better able to comply with anti-money-laundering laws if all 50 states collected information on the owners of new corporations and published it in a national database, Comptroller Joseph Otting said Monday.

[more]

Could Deutsche Bank probe be an opening for AML reform?

04/17/19

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.

[more]

Standard Chartered to pay $1B to end probes of Iran business

04/09/19

The agreement with U.S. and U.K. regulators is on top of the $667 million it paid to U.S. authorities in 2012 for its handling of transactions that violated economic sanctions against Iran.

[more]

Ex-Congressman's Russian bank loses license over money laundering

04/05/19

Commercial Bank of Ivanovo, in which former North Carolina Representative Charles Taylor owns an 80% stake, regularly broke anti-money-laundering regulations and used “schemes” to artificially inflate its capital, according to a central bank statement.

[more]

Wells Fargo rebuked; Goldman to open fund to outsiders

03/13/19

The OCC says it is “disappointed” with the bank as CEO Tim Sloan gets lambasted on Capitol Hill; Goldman Sachs is letting private investors participate in its in-house special-situations unit.

[more]