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.
Know Your Customer (KYC) regulatory requirements are frequently cited as a top — if not the top — challenge for banks. However, for non-bank lenders, those compliance...
Sweden’s oldest bank is facing investigations in the United States as it has acknowledged it hasn’t done enough to prevent money laundering. Get the Full...
Online games are growing in popularity, and regulators are starting to worry as more players are using real-world currency for in-game purchases. To fend off...
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Only 1 percent of proceeds from financial crimes are intercepted, which means the bad guys are getting away with hundreds of billions of dollars, even...
The Financial Supervisory Authority (FSA) in Norway said that several banks didn’t make sufficient anti-money laundering assessments in 2018, according to a report by Reuters....
Swedbank has revealed it will release the results of an external investigation looking into the bank’s involvement in a Baltic money laundering scandal on Friday...