Money laundering

With Dodd-Frank relief near, banks set sights on AML

01/05/18

The Dodd-Frank Act gets more attention when it comes to regulatory burden, but the Bank Secrecy Act and other anti-laundering statutes arguably present even more of a compliance challenge for bankers.

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Money-laundering scandal hurts all banks: Aussie lobby chief

08/15/17

The Commonwealth Bank of Australia money-laundering scandal has damaged the public's perception of the whole banking sector, according to the head of the industry's lobby group.

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HSBC monitor report will remain sealed, appeals court rules

07/12/17

A monitor's report detailing HSBC's compliance with a 2012 agreement with U.S. prosecutors to fix faulty money-laundering controls isn't a judicial document and shouldn't be made public, a federal appeals court said.

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House Dems seek bank documents of Trump accounts

05/24/17

House Democrats are asking Deutsche Bank Chief Executive Officer John Cryan for documents related to two internal reviews, including one into accounts held by President Trump and his family.

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BofI Holding disputes report that it’s a target of money-laundering investigation

03/31/17

The report in the New York Post alleges that the bank violated anti-money-laundering laws by filing incorrect call reports to hide loans made to foreign nationals.

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Laundered Russian cash flowed through major banks: Report

03/20/17

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.

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'More than parties and pretty pictures': Comments of the week

03/10/17

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

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Why big banks want a ban on anonymous shell companies

03/06/17

A trade group owned by the nation's largest banks wants Congress to require state governments to collect information about the true ownership of the companies they incorporate. Such a law could reduce the banking industry’s cost of complying with anti-money laundering rules.

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Why this bank is taking on clients other institutions deem too risky

02/17/17

Many customers at Neighborhood National Bank in San Diego offer check-cashing services that draw attention for Bank Secrecy Act compliance.

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