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.
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...
The Federal Trade Commission (FTC) said on Thursday (Nov. 8) that MoneyGram will pay $125 million in penalties after having violated a six-year-old settlement tied to...
Lender Investors Bancorp is reportedly ready to start reaching out to potential buyers as it considers a sale. According to The Wall Street Journal, Investors, which...
The Office of the Comptroller of the Currency (OCC) announced that it has fined Capital One $100 million due to shortcomings in the company’s Bank...