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.
As nonbank enterprises offer financial services, aided by traditional financial institutions and FinTechs, the emergence of the banking-as-a-service (BaaS) model has promised to transform lending...
Neobank Starling expanded its customer base last year, even as regulatory issues diminished profits. The U.K.-based company released full-year earnings Wednesday (May 28), showing customer deposits reaching a record...
Banks in the United States are increasingly finding themselves ensnared in cartel-connected money laundering operations. Underground banking networks are working with drug cartels to deposit...
FinTech sponsor banks have had a difficult 18 months. Tasked with mediating between the speed of the tech world and the caution of the regulatory...
CSI has launched an artificial intelligence (AI)-powered anti-money laundering (AML) solution and said it plans to add more solutions of this kind later this year....
Crypto company Anchorage Digital Bank is reportedly being investigated by the Department of Homeland Security (DHS). The nature of the investigation is not known, but...
Block will pay a $40 million penalty over anti-money laundering deficiencies in its Cash App. The New York Department of Financial Services (NYDFS) announced the penalty Thursday (April 10), saying it...
Fraud and money laundering prevention provider Hawk has raised $56 million in new funding. The Germany-based company says its Series C round, announced Tuesday (April...