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Weekly Roundup: Western Union Targets COVID-19 Fraud, Bank Shares Drop After FinCEN Files, and More

Western Union has shifted its compliance protocols to better identify schemes related to the novel coronavirus pandemic, which now compose at least 4 percent of the total frauds identified at the money services business, a senior compliance officer told The Wall Street Journal. More Shares in Deutsche Bank, HSBC and JPMorgan dropped in value amid negative news coverage brought on by the publication of the FinCEN Files, the Associated Press reported. More Swiss regulators reprimanded private bank SYZ for "inadequate" anti-money laundering controls vis-a-vis the lender's ties with a politically exposed Angolan client who transferred more than $1 billion, Swissinfo reported. More French...

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