Should suspicions that drug traffickers infiltrated the compliance department of a U.S.-owned bank in Mexico prove valid, it won't be the first example of such a scheme, or the last.
A new U.S. Treasury Department strategy to improve bank oversight will entail more closely reviewing how consistently examiners evaluate risk modeling and transaction monitoring programs, say regulators.
The country's third largest financial institution is asking the U.S. Treasury Department for licenses related to thousands of transactions involving Iranian-sanctioned banks in the Middle East and Latin America that it says were performed to comply with local laws in those regions.
Citigroup, Inc. must improve its anti-money laundering compliance risk management across business lines and subsidiaries, under a consent order disclosed Tuesday by the Federal Reserve Board.
Citigroup's top anti-money laundering and sanctions compliance officer has resigned to take a position at JPMorgan Chase, according to an e-mail obtained by ACAMS MoneyLaundering.com and an individual familiar with bank discussions.
A London-based nonprofit group is calling for investigations of at least five financial institutions over their correspondent links to a Central Asian bank at the center of a money laundering probe.
For the past year, a compliance officer in a midsize Texas bank has been pushing executives to link bonuses to how the officials comply with anti-money laundering rules.
The biggest bank in the country is losing one of the biggest names in anti-money laundering. Rick Small, Citigroups Director of Global Anti-Money Laundering, leaves Citi effective Friday and will take over as Global AML Leader for General Electric subsid
Japans Financial Services Agency has ordered that Citigroup, one of the worlds largest banks, shut down its private banking operations in Japan as of September 30.
Citibank, the largest issuer of credit cards in the United States, will no longer allow the use of its Visa or MasterCard credit cards for online gambling transactions.
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