In a move that signals a major change for Switzerland’s financial services industry, the Swiss government intends to establish a central registry to track ownership of legal entities. To that end, the cabinet requested that the finance ministry draft proposals by mid-2023 that could make...
The Financial Industry Regulatory Authority (FINRA), a Wall Street regulator, has issued new guidance for broker-dealers on the penalties they could face for violating anti-money laundering (AML) rules, eliminating the cap on fines for bigger companies. Get the Full Story Complete the form to unlock...
A few words sum up the state of fraud and the challenges facing financial institutions (FIs): rising at a fast clip. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
Popular images of international crime fighting are usually replete with bank heists, gun fights, drug smuggling, and undercover agents in dark suits and shades. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
A Texas money transfer company has pleaded guilty to federal charges that it failed to adequately maintain an anti-money laundering (AML) program, letting $167 million move overseas without oversight. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
Digital payments FinTech Flutterwave has denied any wrongdoing after a court in Kenya froze its bank accounts. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our...
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Too many countries lack legal frameworks to fight the use of cryptocurrency in money laundering or terrorist funding, according to a Paris-based intergovernmental group that promotes such standards, the Wall Street Journal reported. Get the Full Story Complete the form to unlock this article and...
U.S. legislators say they are getting closer to adopting what could be the biggest anti-money laundering (AML) reforms in decades. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
