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.
Today’s interconnected world is, well, increasingly connected. Fundamentally, that means it relies on trust. In the contemporary era dominated by digital payments and financial innovation,...
Wells Fargo’s CEO reportedly has more confidence in his bank’s efforts to remedy its compliance issues. Charlie Scharf’s comments, as reported Wednesday (Dec. 11) by...
Klarna has been fined $50 million in Sweden over faults in its anti-money laundering protections. Sweden’s Financial Supervisory Authority, or FI, announced Wednesday (Dec. 11)...
A wave of funding rounds over the past several months is giving challenger banks fresh financial firepower to position themselves as alternatives to traditional banks,...
TD Bank Group said Thursday (Dec. 5) that for the coming fiscal year, “it will be challenging for the Bank to generate earnings growth,” as...
It’s almost 2025, but many businesses are still facing the same old anti-money laundering (AML) and know your customer (KYC) concerns, among other compliance requirements....
FinTech Wise reportedly has implemented a European regulator’s recommendations to bolster its anti-money laundering (AML) programs. Wise was forced into a formal remediation plan after the National...
Two U.S. lawmakers reportedly want the country to rethink its banking relationship with Hong Kong. Rep. John Moolenaar, R-Michigan, and Rep. Raja Krishnamoorthi, D-Illinois, sent a letter to...