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Weekly Roundup: UK Startup Disabled Transaction Filters, US Legislation Would Boost FinCEN Resources, and More

U.K. financial startup Revolut switched off its automated system for flagging suspicious activity for more than three months last year, allowing thousands of potentially illegal transactions to be processed, the Telegraph reported. More Reps. Jennifer Wexton (D-VA) and Denver Riggleman (R-VA) introduced the FinCEN Improvement Act of 2019, which aims to boost the financial intelligence unit's resources, cooperation with Native American tribal authorities and oversight of cryptocurrency firms, Augusta Free Press reported. More U.K. financier Bill Browder said he is preparing criminal complaints in Sweden and other countries against Swedbank for reportedly handling funds linked to the €200 billion money-laundering...

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