Anti-money laundering (AML) refers to a set of laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Though anti-money-laundering laws cover a relatively limited range of transactions and criminal behaviors, their implications are far-reaching.
Some of the world’s largest banks have reportedly handled billions of dollars for a Kremlin-backed FinTech that used forgery to enter the international financial system....
The United Kingdom is preparing to spend 500 million pounds and hire hundreds of new financial crime specialists as it shifts its anti-money-laundering strategy from...
Treasury may raise longstanding bank reporting thresholds and take into account how long financial institutions have known their customers, Treasury Secretary Scott Bessent told lawmakers...
Financial institutions have spent years trying to see more suspicious activity. New data from the Financial Crimes Enforcement Network (FinCEN) suggests the more valuable question...
Four U.S. regulators have reached separate agreements with UBS Financial Services in which the company will pay a total of $125 million to settle violations...
The New York State Department of Financial Services (DFS) secured a $50 million penalty from Swedbank AB and its New York branch in a case in which...
The Financial Action Task Force is urging governments to bring decentralized finance platforms under anti-money laundering rules when developers, token holders or other identifiable parties...
The Federal Reserve Board plans to amend its requirements for banks to maintain anti-money laundering (AML) programs to, among other things, require them to focus...