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.
With fraud attempts continually on the rise around the world, financial institutions have their work cut out for them. They must remain fully compliant with...
Among the latest headlines swirling in FinTech: Digital bank Revolut, based in the United Kingdom, has taken on an adviser, along with filling new positions,...
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In the wake of a slew of European money laundering scandals, deposits in the euro zone region from foreign countries dropped significantly in the latter...
Amid controversy around an anti-money laundering system, Revolut CFO Peter O’Higgins resigned from the firm. O’Higgins didn’t mention the issue in his resignation statement, according to...
European Union lawmakers released a report on Wednesday (Feb. 27) recommending that the EU create a police unit dedicated to the investigation of tax and...
MUFG Bank, a Japan-based institution, announced on Friday (Feb. 22) that it was entering into a consent order with the U.S. Office of the Comptroller...
Estonia’s investigation of money laundering involving Danske Bank is widening to include Swedbank, according to a report by Reuters. Get the Full Story Complete the...