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Midweek Roundup: U.S. Weighs Casino Role in Probe of Illegal Sports Wagers, Westpac to Exit Remittance Business, and More
printThe U.S. Treasury Department is considering enlisting casinos to identify and report on illegal sports wagers flowing into American banks, Reuters reported Monday. Upcoming guidance from the Financial Crimes Enforcement Network will outline red flags of illicit gambling, including signs of pooled betting. More Australia's Westpac Banking Corp. is exiting the global remittance business due to regulatory pressure, Reuters reported. The financial institution, which cited rising compliance costs in its decision, is the last large bank in the country to offer remittance services and the gradual pullout is expected to hit the Somali community. More Separately, four Somali men each...
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