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 overseer at HSBC flagged questionable transactions by Huawei Technologies, leading to the arrest of Huawei Chief Financial Officer Meng Wanzhou, according to a report...
Several regulatory agencies issued a joint statement Monday (Dec. 3) that urged banks to study and implement “where appropriate” methods that would bring innovate approaches...
HSBC, one of the largest banks in the world, wants to launch its new cloud-based anti-money laundering risk management system by next year, according to Reuters....
Preliminary charges have been filed against Denmark’s biggest lender, Danske Bank, over allegations that it violated the country’s money laundering laws, according to a report...
It’s the age of algorithms, but not all algorithms are the same — and not all of them constitute true AI. A new PYMNTS report...
Société Générale S.A. of Paris, France has agreed to pay U.S. federal and state authorities $1.34 billion to resolve legal disputes due to the firm’s...
To look into crimes involving digital currencies, U.S. Deputy Attorney General Rod Rosenstein is looking for international support. He took on the topic at Interpol’s...
Amid stricter checks for money laundering, banks are moving away from the international money transfer practice known as correspondent banking. The shift could possibly cause...
The Financial Crimes Enforcement Network (FinCEN) announced that it has issued revised Geographic Targeting Orders (GTOs), which will now require U.S. title insurance companies to...