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The Bank of England reportedly exerts "strong pressure" on Russia's second largest bank, an arrested Zetas leader's sons tweet incriminating photographs, and more, in this week's news roundup.
Last year, I told you not to believe any of that "best of years, worst of years" stuff à la Charles Dickens with regard to 2012. But if 2013 was less eventful than the prior year, every indication is that 2014 will be "challenging" for financial institutions and regulators.
Federal officials will weigh whether financial institutions can bank medical marijuana shops, New York's financial regulators asks two financial consultancies for data and more, in this week's news roundup.
Germany's BaFin is reportedly investigating potential AML violations by Deutsche Bank, a U.K. court could order the British government to pay millions to compensate a blacklisted Iranian bank, and more, in this midweek roundup.
U.S. lawmakers threaten to impose sanctions on Russia for harboring Edward Snowden, Switzerland transfers $962 million for backdated taxes, and more, in this week's news roundup.
As the compliance expectations of European regulators grow, banks should proactively move to adopt future changes outlined in proposals for the EU's Fourth Money Laundering Directive, according to the former global head of compliance at ABN Amro.
Some jurisdictions will likely struggle to comply with a call by the world's top anti-money laundering watchdog to assess their own vulnerabilities to financial crime, say industry experts.
A group of investigative journalists reveal the identities of thousands of suspected tax evaders, U.S. prosecutors increasingly turn to a civil fraud statute to prosecute money launderers, and more, in this week's news roundup.
The Reserve Bank of India confirmed that it is investigating three banks for potential money laundering violations, a forthcoming industry survey points to rising compliance salaries, and more, in this midweek news roundup.
The U.S. Treasury Department is nearing completion of a plan to use predictive analytics software to analyze regulatory data and identify possible financial crimes, an official said Tuesday.
The director of the U.S. financial intelligence unit and prominent Bank Secrecy Act officers have formed a group to discuss whether efforts to combat money laundering at times miss their mark.
The U.S. Treasury Department has launched a taskforce to evaluate the effectiveness of America's anti-money laundering regulations - the first ever such review of the 1970 Bank Secrecy Act and related laws.
A former director of the nation's financial intelligence unit will join the Washington, D.C. office of Cleary Gottlieb Steen & Hamilton LLP as of counsel, the law firm said Monday.
U.S. officials are weighing whether to expand the use of specialized financial analysis units beyond America's theaters of war as part of an effort to fight transnational crime groups, governmental sources say.
U.S. officials are continuing to contend with having to determine whether private equity firms investing in failed banks have prohibited links to bank secrecy jurisdictions, according to a federal official.
Over 14 percent of the bank failures reviewed by federal regulatory watchdogs during the last three years had serious deficiencies in their anti-money laundering programs, government data shows.
The U.S. Treasury needs to improve its collaboration with law enforcement and other stakeholders as it tries again to revise its process for reporting suspicious financial transactions, according to a U.S. Government Accountability Office released Monday.
Two agencies at the U.S. Treasury Department have done a poor job protecting sensitive Bank Secrecy Act information from hackers and potential data breaches, a government watchdog said Friday.
The U.S. Treasury Department must improve the way it designates financial institutions and jurisdictions it believes to be at higher risk for money laundering, according to a government watchdog report released Thursday.
The project--a data retrieval system to allow the sharing of Bank Secrecy Act information among regulators and law enforcement--was plagued by multiple cost increases.
