Federal law enforcement agencies will ask multiple financial institutions next week to take part in a pilot program intended to improve how banks identify suspicious clients and communicate with investigators.
The terms of a $100 million settlement disclosed Friday by MoneyGram for anti-money laundering lapses will cost the Dallas-based money remitter nearly $200 million once completed, regulatory documents show.
The U.S. Justice Department is investigating possible anti-money laundering compliance infractions related to how MoneyGram oversees agents working near Mexico's border, say current and former government sources.
Financial crimes against the elderly in the United States cost the victims at least $2.6 billion annually and that number is rising, says Elizabeth Loewy, the attorney in charge of the Elder Abuse Unit under Manhattan District Attorney Cyrus R. Vance, Jr.