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