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.
An ex-Goldman Sachs banker who’s accused of being involved with a multibillion-dollar scandal in Malaysia has requested to be sent to the U.S. to face...
Bafin, the German financial watchdog that is monitoring Deutsche Bank’s involvement in the Danske Bank money laundering scandal, has asked the bank to review some...
Legal marijuana sellers want bank accounts just like any other business. Over the last two years, more than $500 million worth of cash deposits from...
The story goes something like this: During the reign of drug kingpin Pablo Escobar — estimated to have supplied up to 80 percent of the...
Payments messaging firm SWIFT announced on Tuesday (Feb. 12) that it will now allow corporates to join its KYC Registry in an effort to facilitate the...
One of the main differences between a successful criminal and a wanna-be is that the smart one knows how to hide (often in plain sight),...
In the wake of an investigation of over 200 billion euros ($229 billion) in suspected money laundering at Danske Bank’s Estonia branch, Deutsche Bank has...
The following Deep Dive examines how the 2008 financial meltdown paved the way for existing AML/KYC practices, and how FIs can work toward remaining compliant.
After being implicated in one of the largest money laundering scandals ever, Estonia is struggling to realize its dream of becoming a digital society, according...