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.
Sandbar says it has raised $4.8 million to enhance its financial crime detection software. The funding, announced by the New York FinTech Tuesday (Jan. 24),...
As long as banks have been around, they’ve been tremendously attractive targets for “robbers.” The tit-for-tat between bad actors chasing after bank deposits has evolved...
Penalties for failing to stop financial crimes jumped by more than 50% last year. That’s according to a Thursday (Jan. 19) report by the Financial...
Cryptocurrency exchange Bitzlato has had assets seized and its founder arrested in the United States. Anatoly Legkodymov, a Russian national who resides in China and...
Bulgarian police have reportedly raided cryptocurrency lender Nexo in a money laundering and tax probe. Authorities are looking into Nexo on suspicion of money laundering,...
The FCA has fined Al Rayan and Guaranty Trust banks over anti-money laundering (AML) failures. In the first penalty, announced by the U.K.’s Financial Conduct Authority on...
Recent regulatory action against U.S.-based Coinbase underscores that crypto is reaching a post-FTX inflection point. The pressure is on for the business-as-usual attitude to button...
Nigeria will ban cash withdrawals from government accounts from March 1. Modibbo Tukur, the chief executive of the Nigerian Financial Intelligence Unit (NFIU) said the...