In light of growing militant threats and increasing sophistication in terrorist funding networks, a handful of banks are rethinking how to monitor and act upon financial intelligence.
Recent political turmoil and ever-rising regulatory expectations for banks have made it significantly tougher for British charities to send financial aid abroad, according to a survey.
The U.S. House of Representatives Tuesday unanimously passed a bill aimed at foreign banks that provide financial services to Hezbollah, an Iran-backed, Lebanon-based Shiite militant group.
A transactional data handover mandated under a $102 million settlement disclosed Tuesday between the U.S. Justice Department and a defunct Beirut bank will likely lead to new financial crime investigations.
As U.S. officials work to shield American prepaid cards from abuse by financial crooks, foreign-issued stored value products remain a relatively easy avenue to move money into the United States anonymously.
A decision by the U.S. Second Circuit Court of Appeals affirming sanctions against Jordan's largest bank for not turning over data on suspicious accounts could leave some financial institutions with an unwanted choice, say attorneys.
The U.S. Treasury Department Friday fined a Sioux Falls, SD bank branch $10 million for not properly reporting instances of suspected structuring and terrorist financing.
Increases in the rates that U.S. states tax cigarette purchasers has led to a rise in tobacco smuggling by organized crime groups and terrorist financiers, say governmental officials.
U.S. officials have launched a criminal investigation after linking data seized at Osama bin Laden's compound in Abbottabad, Pakistan to a Bank Secrecy Act report, counterterrorism investigators said Monday.
The U.S. Justice Department seized $150 million held for a Lebanese financial institution at accounts at five U.S. banks, as part of a crackdown on a purported terrorist financing network.
The U.S. Treasury Department's ability to freeze the funds of suspected terror financiers without a warrant is likely curtailed to emergency circumstances under a court order handed down last week.
Lawmakers are asking the U.S. Justice Department to clarify how it will prosecute individuals and groups that aid terrorist organizations, and whether those cases could involve innocent charity groups.
U.S. efforts to clamp down on terror financiers have been largely a success, a federal official told American lawmakers at a hearing in downtown Manhattan Tuesday.
U.S. lawmakers Thursday questioned how a blacklisted Lebanese terrorist organization works with political leaders and narco-traffickers in Latin America.
The Senate Thursday named David Cohen the nation's top sanctions official after legislators agreed to end a standoff over the U.S. Treasury Department's implementation of financial measures aimed at Iran.
The release of hundreds of U.S. State Department cables as part of a massive leak of sensitive diplomatic communiqués is likely to prompt bank compliance departments to tweak risk rankings.
Any plans to return frozen assets to donors who unwittingly contributed the money to charities tied to terrorist organizations would likely face stiff legal resistance, a government official said Wednesday.
With the leak of CIA reports and other government documents on possible terrorist ties to Saudi-based Al Rajhi Bank, regulators "will fully expect" financial institutions to modify their risk assessment of the bank, compliance professionals say.
To counteract criticisms about its weak efforts against terrorist financing, Saudi Arabia issued an eight-page report on Dec. 3 detailing what it says are the strong action it has taken.
According to a new report on terrorist financing by the U.S. Council on Foreign Relations, individuals and charities based in Saudi Arabia have been "the most important source" of funding for the Al Qaeda network.