The compliance departments of U.S. banks are ill-equipped to identify and flag financial activity linked to labor trafficking amid an expected surge in the crime in the run-up to and during the 2026 soccer World Cup, analysts told attendees at a conference hosted by ACAMS on Wednesday. The International Federation of Association Football, or FIFA, is hosting the World Cup in 16 cities across North America, 11 of which are in the U.S, from June 11 of next year. The five-week event is expected to bring in millions of visitors from around the world and will require the construction of...
Swiss private bank Julius Baer reached a highly anticipated $79 million deal with federal prosecutors in New York who accused the lender of laundering tens of millions of dollars for corrupt world soccer officials.