News

Silvergate Capital Corporation—the parent company of California-based Silvergate Bank—and the company's former chief executive and chief risk officers will pay more than $60 million combined to resolve U.S. state and federal charges that the lender failed to monitor $1 trillion of transactions for signs of financial crime from November 2022 to January 2023. More Drug traffickers exploited allegedly lax anti-money laundering controls at Citigroup to deposit tens of thousands of dollars through ATMs before transferring them to accounts controlled by cartels in Mexico, federal investigators told the Financial Times. More Austrian authorities assessed a record €2 million fine against Raiffeisen...