Anti-money laundering (AML) refers to a set of laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Though anti-money-laundering laws cover a relatively limited range of transactions and criminal behaviors, their implications are far-reaching.
Revolut’s chairman is reportedly part of a group aiming to purchase part of Banque Havilland. Martin Gilbert is among the investors in talks to buy the Monaco-based arm...
Oracle has launched a new service designed to help banks, FinTechs and other financial services companies identify potential financial crime and compliance issues and reduce...
Trouble with federal regulators continues for Wells Fargo. The Office of the Comptroller of the Currency (OCC) said Thursday (Sept. 12) that it has signed...
If you’re tracking year-to-date news stories, Banking-as-a-Service (BaaS) has been in the hot seat. The situation surrounding the Synapse bankruptcy and the limited ripple effect...
Sweden’s Financial Supervisory Authority (FSA) reportedly criticized Klarna’s risk assessment, saying the company has not done enough to battle money laundering and terrorist financing. The...
Seamless cross-border B2B payments remain one of the white whales of the connected economy. And with the news Friday (Aug. 30) that Bridge has raised an...
TD Bank’s ongoing issues with its anti-money laundering (AML) controls could usher in a leadership change. That’s according to a Wednesday (Aug. 28) Reuters report,...
Nordea Bank Abp has reached a settlement with the New York State Department of Financial Services (DFS) after the regulator determined that the bank had compliance...
Lapses in its anti-money laundering (AML) program continue to cost Toronto-Dominion Bank (TD Bank). The lender announced third-quarter earnings Thursday (Aug. 22) that include a $2.6 billion provision related...