U.S. federal officials will soon resurrect an investigative unit targeting money launderers following a decision to shut down its predecessor two years ago in response to a budgetary sequester.
Steep fines against banks that fail to prevent money laundering are complicating efforts by investigators to suss out cybercrime, a top London police official said Wednesday.
The Internal Revenue Service will no longer move to quickly seize funds linked solely in suspicious activity reports to potential structuring of legally derived money, an agency leader said Sunday.
The U.S. Securities and Exchange Commission is taking a deeper look at suspicious activity reports following an overhaul of the federal database of Bank Secrecy Act regulatory filings, according to an agency official.
A growing number of compliance professionals expect that someone at a bank, even a compliance officer, will be prosecuted for violating the Bank Secrecy Act in the not-too-distant future.
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.
If you detect even one case of cybercrime at your bank, it's likely that you've only begun to uncover a larger cyberattack, according to panelists at an anti-money laundering conference.
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