money laundering

Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

Source: en.wikipedia.org

SWIFT Extends Sanctions Screening Service To Cover All Financial Messaging
SWIFT Extends Sanctions Screening Service To Cover All Financial Messaging
January 15, 2015  |  B2B Payments

Global financial-messaging network SWIFT has extended its Sanctions Screening service to support all messages used in financial transactions, regardless of format or financial network, according...

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Euro Lawmakers Concerned About SWIFT Payments Data Sharing With The US
Euro Lawmakers Concerned About SWIFT Payments Data Sharing With The US
January 09, 2015  |  Europe

European policymakers are fighting over how financial messaging information from the SWIFT network can be used to fight terrorism, and who gets to use it,...

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More Red Tape Coming For Cross-Border Payments
More Red Tape Coming For Cross-Border Payments
January 08, 2015  |  B2B Payments

Regulators around the world are stepping up anti-money-laundering (AML) efforts, and, as a result, lenders are tightening the screws on cross-border payments, according to Corporate...

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New AML Rules Released
New AML Rules Released
December 04, 2014  |  B2B Payments

For the first time since 2010, federal regulators have released a new guidebook on how to meet anti-money-laundering (AML) regulations, Bank Info Security reported. Get...

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Casino Money-Laundering Probe Raises Cross-Border Payments Issues
Casino Money-Laundering Probe Raises Cross-Border Payments Issues
November 25, 2014  |  B2B Payments

In the world of payments, casinos are highly-complex players, with an unusually high mix of cash and cross-border transactions. That’s one of the reasons federal...

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Argentine Bank’s Money Transfers Linked To Money-Laundering Investigation
Argentine Bank’s Money Transfers Linked To Money-Laundering Investigation
November 12, 2014  |  International

An Argentine bank whose anti-money-laundering controls got a clean bill of health from the New York Federal Reserve is now at the center of civil...

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Money-Laundering, Russian Style
Money-Laundering, Russian Style
November 06, 2014  |  News

Several close aides to Russian President Vladimir Putin are now the target of a U.S. Justice Department probe into an elaborate money-laundering scheme involving the...

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