Bank compliance departments continue to underreport Internet Protocol and e-mail addresses in their regulatory filings to the U.S. Treasury Department despite repeated requests for such disclosures from federal officials.
A U.K. regulator on Monday published new draft of rules that would hold top bankers accountable for compliance lapses but said it could amend its plans to presume guilt for bank misconduct.
The U.S. Treasury Department's financial intelligence unit fined a now-defunct New Jersey money transmitter $125,000 for repeatedly and willfully violating Bank Secrecy Act requirements.
Mexican officials will extend until February an upcoming deadline for nonbank companies to implement anti-money laundering controls, according to sources with knowledge of the matter.
Lawmakers should expand financial safe harbor protections to allow banks to better share their suspicions about money laundering and its predicate crimes, a top U.S. regulatory official said Sunday.
As a deadline for the implementation of electronic Bank Secrecy Act reporting approached earlier this month, hundreds of financial institutions questioned whether they had too little time to comply with the requirements.
The New York County District Attorney's Office is creating a financial intelligence unit in an effort to expand its use of Bank Secrecy Act reports, the agency's highest official said Monday.
The U.S. Treasury Department and Federal Reserve Board disclosed long-awaited enforcement actions against JPMorgan Chase for Bank Secrecy Act failures Monday - the same day the regulators punished the company for trading violations.
A team of law enforcement and bank officials may provide a model for how investigators and compliance officers at small and midsize financial institutions can better communicate, say individuals involved.
The Manhattan District Attorney's Office has opened dozens of financial crime investigations since the 2010 formation an internal team that reviews suspicious activity reports, a New York official said Monday.
It's a message that has been hammered home repeatedly by the U.S. Treasury Department: the confidentiality of data included in suspicious activity reports is sacrosanct.
Personally letting law enforcement agents know about clients' questionable activity can be crucial to identifying money launderers, according to Hector Colon, unit chief of the Illicit Finance and Proceeds of Crime Unit of Homeland Security Investigations at U.S. Immigration and Customs Enforcement.
Divergences in international lists of predicate offenses to money laundering have hampered the fight against financial criminals, according to a report by the Australian government.
The chief self-regulatory organization examining broker-dealers for anti-money laundering compliance is again allowed to have direct access to suspicious activity reports, the U.S. Securities and Exchange Commission confirmed Thursday.
Hundreds of banks and credit unions are likely to miss a June deadline to comply with federal rules mandating that they file all anti-money laundering regulatory reports electronically.
Once confined to large banks, the practice of forming teams to review suspicious activity reports ahead of regulatory filing deadlines is increasingly being adopted by midsize financial institutions, say compliance professionals.
The first hint of a problem was when monthly customer transaction reports from a normally busy branch dropped more than 30 percent, a compliance officer at a large Southern bank recalls.
A Miami bank already on the hook with federal regulators for a lax compliance program was fined $7 million Thursday for failing to address multiple Bank Secrecy Act violations.
Countries should ease their privacy restrictions that hinder cross-border data-sharing on suspicious transactions, according to a Toronto-based intergovernmental group of financial intelligence units.
A former loss mitigation specialist at Chase Bank accepted $10,000 in bribes and illegally disclosed a suspicious activity report to the client it was filed on, a California jury said Monday.