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.
U.S. banking regulators want to apply new compliance standards to stablecoin issuers. The Office of the Comptroller of the Currency (OCC) issued a proposed rulemaking Monday (June 22) that...
Two lawmakers have asked the Financial Crimes Enforcement Network (FinCEN) to ensure that reducing unnecessary compliance burdens and prioritizing high-risk financial crimes in its enforcement...
Flagright raised $12.5 million in a Series A funding round to increase the capabilities and adoption of its artificial intelligence operating system for financial crime...
Wise is facing an investigation in Europe related to possible criminal usage of its services. The money transfer company confirmed the investigation in a statement issued...
For decades, catching financial crime meant hiring more people to review more alerts. Most of those alerts turned out to be nothing. Speaking at Semafor’s...
Australia’s financial crime watchdog says AI is making money launderers’ jobs easier. In a report issued Tuesday (May 12), the Australian Transaction Reports and Analysis Center (AUSTRAC) said the...
FIS and Anthropic have developed a Financial Crimes AI Agent and plan to build additional artificial intelligence agents for bank-grade operations. The companies built the...
A Wednesday (April 22) hearing on sanctions and illicit finance placed the machinery of anti-money laundering (AML) under scrutiny, as lawmakers and Treasury officials examined...