Money Laundering news and trends

Block to Pay $80 Million to Settle AML Violation Allegations
Regulation // January 15, 2025

Block has agreed to pay an $80 million fine and undertake corrective actions to resolve a coordinated enforcement action by 48 state financial regulators that alleged the company violated Bank Secrecy Act (BSA) and anti-money laundering (AML) laws. The enforcement action centered on Block’s mobile...

5 Banks Enter Into Stipulated Orders and Written Agreements With FDIC
Bank Regulation // December 27, 2024

Five banks entered into stipulated orders and written agreements with the Federal Deposit Insurance Corporation (FDIC) in November. These cases were among 13 FDIC enforcement decisions and orders delivered in November and made public Friday (Dec. 27) by the FDIC, according to a Friday press release. Among them...

SEC Fines Deutsche Bank Securities $4 Million for ‘Stale’ Suspicious Activity Reports
Bank Regulation // December 20, 2024

Deutsche Bank Securities agreed to pay a $4 million civil penalty to settle Securities and Exchange Commission (SEC) charges that it failed to file certain Suspicious Activity Reports (SARs) in a timely manner. Without admitting or denying the regulatory agency’s findings, the registered broker-dealer and Deutsche Bank...

Stenn Collapses Over FinTech’s Possible Ties to Money Launderers
AML // December 16, 2024

U.K. FinTech Stenn has reportedly collapsed over possible ties to a Russian money laundering scheme. The company was placed into administration — a type of insolvency procedure — earlier this month after a reference to it appeared in a U.S. indictment in a money laundering case, the...

Interviews & Exclusives
Tale of 2 Crypto Exchanges: Binance’s Money Laundering vs FTX’s Misappropriation

November 22, 2023
Cryptocurrency exchanges play a vital role in the digital asset ecosystem. They facilitate the buying, selling, trading, transferring, and storing of both individual and institutional holdings of the more than 20,000 crypto tokens in circulation. The role they play, however, is rarely without governmental scrutiny and increasingly legal consequences. From the U.S. Securities Exchange Commission […]

Chainalysis Says Data and Smart Regulation Critical for Crypto Rehabilitation

March 14, 2023
The year 2022 was one of the most tumultuous in the cryptocurrency industry’s brief history. It was a record year for another reason, too, as illicit crypto transactions hit a...

Biometrics, Digital Identity Help Online Banks Push the Limits on Money Mobility

July 06, 2022
Where consumers once had to wait for payments to post, they now expect their money to move instantly between accounts. Maximum money mobility is the new imperative of a digital-first...

FIs Use Digital Identity to Curb Money Laundering and Comply With Gov’t Rules

March 23, 2022
Digital identities are becoming more prevalent as awareness of their security and convenience grows, and they are expanding into new use cases like anti-money laundering (AML). This crime has ballooned...

Quick Reads
5 Banks Enter Into Stipulated Orders and Written Agreements With FDIC

December 27, 2024
Five banks entered into stipulated orders and written agreements with the Federal Deposit Insurance Corporation (FDIC) in November. These cases were among 13 FDIC enforcement decisions and orders delivered in November and made public Friday (Dec. 27) by the FDIC, according to a Friday press release. Among them were 11 orders, one notice and one adjudicated decision and […]

SEC Fines Deutsche Bank Securities $4 Million for ‘Stale’ Suspicious Activity Reports

December 20, 2024
Deutsche Bank Securities agreed to pay a $4 million civil penalty to settle Securities and Exchange Commission (SEC) charges that it failed to file certain Suspicious Activity Reports (SARs) in a...

Stenn Collapses Over FinTech’s Possible Ties to Money Launderers

December 16, 2024
U.K. FinTech Stenn has reportedly collapsed over possible ties to a Russian money laundering scheme. The company was placed into administration — a type of insolvency procedure — earlier this month after...

Klarna Fined $50 Million for Anti-Money Laundering Defects

December 11, 2024
Klarna has been fined $50 million in Sweden over faults in its anti-money laundering protections. Sweden’s Financial Supervisory Authority, or FI, announced Wednesday (Dec. 11) that an investigation into the...