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Midweek Roundup: U.S. Accuses Lawmaker of Financial Wrongdoing, Western Union to Increase AML Spending, and More
printThe U.S. Justice Department charged U.S. Rep. Chaka Fattah (D-PA) and four of his associates with bank fraud, money laundering and racketeering related to his unsuccessful 2007 bid to become the mayor of Philadelphia, Reuters said. Prosecutors said Fattah disguised illicit contributions and post-election repayments. More Western Union will commit additional resources beyond the $250 million it spends annually to prevent fraud and money laundering, with some of the funding going towards improving compliance controls in Africa, Reuters reported. More Benjamin Lawsky, who until recently headed the New York Department of Financial Services, said at conference Tuesday that regulators could...
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