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.
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.
The U.S. Treasury Department finalized rules Thursday requiring federal home-loan banks to implement anti-money laundering controls and report suspicious activity.
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.
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.
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.
Plans by the Obama administration to pursue civil and criminal cases against institutions that illegally promoted mortgage-backed securities could also bring scrutiny to anti-money laundering compliance officers.
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.
The number of bank regulatory reports of suspected cases of commercial real estate fraud rose nearly threefold between 2007 and last year, the U.S. Treasury Department said Wednesday.
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 U.S. Treasury Department advisory detailing red flags of reverse-mortgage scams takes another step in placing more responsibility for identifying such frauds within banks' anti-money laundering programs, say consultants.
Nearly 60 percent of the suspicious activity reports filed in fiscal 2006 had missing, incorrect or incomplete data in fields critical to law enforcement agencies, according to a federal watchdog report.
Bank reports of suspected mortgage fraud increased more than regulatory filings of any other financial crime in the twelve-month period ending June 30, the U.S. Treasury Department said Wednesday.