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A former anti-money laundering compliance executive at Coutts private bank went on trial in Switzerland for allegedly failing to respond to warnings that funds linked to theft of billions of dollars from Malaysian state fund 1MDB had moved through the private lender, Reuters reported. More U.S. firms are jettisoning corporate compliance staff, freezing hires and implementing other cost-cutting measures in response to budget pressures caused by COVID-19, The Wall Street Journal reported. More PayPal, Western Union and other U.S. money services businesses have started incorporating financial crime typologies linked to the coronavirus pandemic into their AML controls, The Wall Street...