News Topic: Money laundering

Anti-money-laundering regulations are among the most costly, and few criminals get caught. Banks say there’s a better way. ... Read full article

Anti-money-laundering regulations are among the most costly, and few criminals get caught. Banks say there’s a better way. ... Read full article

Banks submit millions of Bank Secrecy Act filings each year, yet only a fraction are valuable to law enforcement. Inside the effort to change that. ... Read full article

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. ... Read full article

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

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 ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

House Financial Services Committee Chairwoman Maxine Waters said she has advised her staff to seek whatever information it needs in investigating Deutsche Bank's ties to President Trump's businesses. ... Read full article

Congressional investigations are often rushed affairs that fail to dig beneath the surface. But the hiring of a veteran investigator who has tangled with Deutsche in the past suggests that this politically charged inquiry is likely to be thorough. ... Read full article

The European Union drew a rebuke from the U.S. for including Puerto Rico, the U.S. Virgin Islands and other overseas territories on a blacklist of 23 jurisdictions posing higher risks of money laundering and terrorist financing. ... Read full article

The House Financial Services Committee is hiring a Senate lawyer with deep experience conducting complex investigations to help run its upcoming probe of Deutsche Bank, according to people briefed on the matter. ... Read full article

The Federal Reserve is examining how Deutsche Bank handled billions of dollars in suspicious transactions from Denmark's leading lender, according to people familiar with the matter, further intensifying what could be one of the biggest ... Read full article