News

Weekly Roundup: Rabobank Wants More Time, AML Costs Consume Deutsche Bank Profits, and More

Dutch cooperative lender Rabobank has asked domestic regulators for more time to address its anti-money laundering weaknesses, arguing that Western sanctions against Russia have stretched its staff and resources thin, ACAMS moneylaundering.com reported. More Deutsche Bank's planned expenditure of hundreds of millions of additional euros on AML upgrades threaten the German lender's profitability targets, Bloomberg reported. More RenBridge, a decentralized platform that helps customers swap cryptocurrencies and move across different blockchains, helped criminals launder more than $500 million since 2020, Cointelegraph reported, citing independent research. More Three U.S. bills would task federal securities and commodities regulators with supervising cryptocurrency and crypto-assets,...

TO READ THE FULL STORY