The U.S. Treasury Department's financial intelligence unit fined a now-defunct New Jersey money transmitter $125,000 for repeatedly and willfully violating Bank Secrecy Act requirements.
Mexican officials will extend until February an upcoming deadline for nonbank companies to implement anti-money laundering controls, according to sources with knowledge of the matter.
The nation's largest nongovernmental regulator of securities is signaling it wants executing brokers to know their customers better, even when the clients come from larger firms.
Lawmakers should expand financial safe harbor protections to allow banks to better share their suspicions about money laundering and its predicate crimes, a top U.S. regulatory official said Sunday.
Plans by the U.S. securities market regulator to more strictly enforce regulations will result in a jump in anti-money laundering penalties both by the agency and its private sector partner.
As a deadline for the implementation of electronic Bank Secrecy Act reporting approached earlier this month, hundreds of financial institutions questioned whether they had too little time to comply with the requirements.
Penny stock fraud and soon-to-be introduced customer due diligence regulations should be foremost on the minds of compliance officers at small securities firms, believes Kenneth Cherrier, senior vice president and chief supervisory officer at Overland, KS-based Waddell & Reed, Inc.
The New York County District Attorney's Office is creating a financial intelligence unit in an effort to expand its use of Bank Secrecy Act reports, the agency's highest official said Monday.
The U.S. Treasury Department and Federal Reserve Board disclosed long-awaited enforcement actions against JPMorgan Chase for Bank Secrecy Act failures Monday - the same day the regulators punished the company for trading violations.
The number of fines levied by the U.S. nongovernmental regulator of securities and brokerage firms more than doubled in the first five months of 2012 compared to the same period in 2011.
A U.S. Treasury Department effort to better ensure the confidentiality of suspicious activity reports contributed to a delay in regulatory penalties by the nation's non-governmental regulator of brokerage firms.
The Manhattan District Attorney's Office has opened dozens of financial crime investigations since the 2010 formation an internal team that reviews suspicious activity reports, a New York official said Monday.
It's a message that has been hammered home repeatedly by the U.S. Treasury Department: the confidentiality of data included in suspicious activity reports is sacrosanct.
Divergences in international lists of predicate offenses to money laundering have hampered the fight against financial criminals, according to a report by the Australian government.
In violation of federal law, the confidentiality of suspicious activity reports is being breached regularly by some securities firms, a securities markets regulator said Friday.
Hundreds of banks and credit unions are likely to miss a June deadline to comply with federal rules mandating that they file all anti-money laundering regulatory reports electronically.
A Miami bank already on the hook with federal regulators for a lax compliance program was fined $7 million Thursday for failing to address multiple Bank Secrecy Act violations.
Countries should ease their privacy restrictions that hinder cross-border data-sharing on suspicious transactions, according to a Toronto-based intergovernmental group of financial intelligence units.
A former loss mitigation specialist at Chase Bank accepted $10,000 in bribes and illegally disclosed a suspicious activity report to the client it was filed on, a California jury said Monday.
Financial institutions must keep a tight lid on investigations of suspicious account activity, even when transactional alerts don't merit federal regulatory reporting, the U.S. Treasury Department said Tuesday.