Money laundering

Greek gang foiled after $14.4 million fraud attack on U.S. banks


A Greek-led organized crime group that stole more than $14.4 million from U.S. banks has been dismantled in a cross-border operation by three international law enforcement agencies.


CRM provider Tier1 buys financial crime software vendor Alessa


Tier1 Financial Solutions says the acquisition will give it access to midsize financial institutions and that Alessa's product will improve onboarding for Tier1's clients.


Next step in AML overhaul: Simplify SARs


Congress acted first when it freed financial firms from having to disclose the beneficial owners of commercial clients. Now it's time for regulators to further ease anti-money-laundering reporting requirements by freeing them from filing duplicative or unnecessary suspicious activity reports.


Stimulus battle stands in way of AML measure becoming law


An impasse over pandemic relief checks for Americans is holding up an override of President Trump's veto of a bill shifting beneficial-owner requirements from banks to their commercial clients.