The Estonian unit of Swedbank AB is a suspect in a money-laundering investigation, after a special white-collar crime investigator with Estonia’s Central Criminal Police notified the bank that Swedbank AS has been summoned, The Wall Street Journal reported on Monday (March 14). Estonian investigators are...
The Financial Action Task Force, an intergovernmental agency that fights against money laundering, will soon put the United Arab Emirates on its so-called “gray list” over concerns the country’s leaders aren’t doing enough to squelch illegal financial activities, Bloomberg reported Thursday (March 3). FATF’s “gray...
AnnaLou Tirol, deputy director of money laundering and terrorist financing watchdog Financial Crimes Enforcement Network (FinCEN), on Thursday (March 3) told attendees at AML Intelligence’s Women in FinCrime event that the group is making progress on curbing money laundering. Congress passed the Anti-Money Laundering Act...
Crown Resorts, Australia’s largest casino operator, is accused of violating money-laundering mandates in a lawsuit filed by the country’s financial watchdog in federal court on Tuesday (March 1). In a statement of claim filed by the Australian Transactions and Reports Analysis Centre (AUSTRAC), Crown Resorts...
In the latest rebuke to Russian President Vladimir Putin for invading Ukraine, British Prime Minister Boris Johnson’s government plans to pass legislation designed to curb laundering of “dirty money” that has been used to support the war, The Financial Times reported. In a post on...
A recent spate of high-profile money laundering cases involving big banks in Europe has shone a spotlight on just how thieves are making off with the cash — literally. Annegret Funke, head of Financial Crime at Featurespace, told PYMNTS’ Karen Webster that the sheer breadth...
Cryptocurrency firms Coinbase, Fidelity Digital Assets and Robinhood are among 18 virtual asset service providers (VASPs) joining the Travel Rule Universal Solution Technology (TRUST) platform that’s working to ensure digital assets comply with global anti-money laundering (AML) rules, CoinDesk reported Wednesday (Feb. 16). TRUST comes...
The economy’s digital shift started long before the global health crisis, but the past 20 months have definitely accelerated digital-first trends in eCommerce and banking. Leading financial institutions (FIs) now recognize that to engage digitally-savvy consumers, they need to provide convenient, streamlined and interactive banking...
More digital banking services mean more of an opportunity for identity theft. In the AML/KYC Tracker, Tom Curran, chief risk and compliance officer at Upgrade, explains how using data combined with biometric tech has helped reduce fraud at account opening in a secure, compliant way.
