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.
Hummingbird has deepened its investment in transaction monitoring by acquiring Quantimon, the company said in a Wednesday (Oct. 28) press release. The acquisition adds the...
An artificial intelligence agent developed by FIS and Anthropic is now commercially available to any bank based in the United States, according to a Thursday...
Bank of America’s profits dropped 17% during the third quarter, according to a Wednesday (Oct. 14) quarterly earnings press release, following a $1.2 billion regulatory...
The U.S. Department of Justice (DOJ) is reportedly investigating the chain of companies surrounding payments firm Euro Exchange Securities. This probe comes after British authorities seized...
Three federal agencies have imposed penalties totaling more than $1.21 billion on Bank of America, alleging that the bank violated anti-money laundering and sanctions laws, according...
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...