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Midweek Roundup: EU Investigates Bank Decisions to Drop MSBs, Signature Bank Faces Lawsuit for Ponzi Scheme, and More
printThe European Commission is investigating claims that banks unduly cited counterterrorist financing concerns when dropping money services businesses clients in collusion with Western Union's efforts to drive its rivals out of the market, Bloomberg reported. More U.S. authorities are looking into whether Western Union's compliance program failed to identify prohibited gaming-related transactions linked to Haiti, the Philippines, Vietnam, the Dominican Republic, Peru, the Bahamas, Costa Rica, Nicaragua and Panama, according to Bloomberg. More HSBC's compliance monitor has expressed concerns about the pace of reforms to its anti-money laundering program and the U.S. Securities and Exchange Commission has separately launched an...
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