Inaccurate yet widely circulated media reports are threatening the ability of financial institutions to screen their existing and potential customers for anti-money laundering purposes, say sources. So-called "fake news" has proliferated in recent years thanks to websites in the United States and abroad that frequently publish or reprint highly partisan articles or even non-factual information made to look legitimate, and then use social media platforms like Twitter and Facebook to disseminate the stories internationally. As a result, compliance staff must exercise more caution when running the names of clients through search engines, social media forums or news websites to check...
U.S. financial institutions should respond to negative media coverage of current and former associates of President Donald Trump by reassessing the compliance challenges affected customers and transactions present, according to a former federal regulator.
A series of news reports alleging improper, potentially illegal dialogue and other ties between Russian officials and aides of U.S. President Donald Trump should prompt financial institutions to review batches of transactions for suspicious activity.
Although the grandson of a former head of the Communist Party USA, Bill Browder isn't exactly beloved by Russian officials, even those professing nostalgia for the Soviet Union's supposedly golden days.