Money laundering

U.S. Slaps Crypto Exchange With Sanctions
Technology

U.S. Slaps Crypto Exchange With Sanctions

In an unprecedented enforcement action, the Treasury Department says Suex OTC facilitated the laundering of illicit proceeds from ransomware attacks.
By Matthew Heller | September 21, 2021
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Justice Department Charges Five for Alleged $20M Cryptocurrency Mining Fraud
Risk & Compliance

Justice Department Charges Five for Alleged $20M Cryptocurrency Mining Fraud

The crypto club founders allegedly spent their victims' money on luxury cars, jewelry, and homes.
By Lauren Muskett | August 19, 2020
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International Crime Scholar Pleads Guilty in Money-Laundering Case
Risk & Compliance

International Crime Scholar Pleads Guilty in Money-Laundering Case

Bruce Bagley said he knew the funds were connected to corrupt projects in Venezuela.
By Lauren Muskett | June 2, 2020
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PayPal Pulls Out of Facebook’s Crypto Project
Technology

PayPal Pulls Out of Facebook’s Crypto Project

The payments company was reportedly concerned Facebook had not done enough to address the regulatory backlash against the Libra plan.
By Matthew Heller | October 7, 2019
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Five Ways CFOs Can Use AI — Today
Technology

Five Ways CFOs Can Use AI — Today

While AI is often overhyped, there are a number of practical applications that are available to finance chiefs.
By David McCann | July 3, 2019
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ING CFO Resigns After Money-Laundering Probe
Risk & Compliance

ING CFO Resigns After Money-Laundering Probe

The Dutch bank says "it is appropriate that responsibility is taken at [the] executive board level" for shortcomings in its anti-money laundering policies.
By Matthew Heller | September 11, 2018
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JPMorgan Avoids Fine in Malaysia Fund Scandal
Risk & Compliance

JPMorgan Avoids Fine in Malaysia Fund Scandal

A Swiss regulator finds the bank "seriously breached" anti-money laundering regulations but declines to impose financial sanctions.
By Matthew Heller | December 25, 2017
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Fed Faults Deutsche Bank Laundering Controls
Risk & Compliance

Fed Faults Deutsche Bank Laundering Controls

The bank agrees to pay $41 million for allowing "significant deficiencies" in its monitoring of billions of dollars in potentially suspicious transactions.
By Matthew Heller | May 31, 2017
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Citigroup Unit Settles Money Laundering Probe
Risk & Compliance

Citigroup Unit Settles Money Laundering Probe

Banamex USA will pay $97.4 million to resolve allegations that it failed to properly monitor millions of dollars in remittance payments to Mexico.
By Matthew Heller | May 22, 2017
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Deutsche Bank Fined Over Laundering Controls
Risk & Compliance

Deutsche Bank Fined Over Laundering Controls

A New York State regulator says the bank's deficient controls facilitated $10 billion in sham trades involving Russian investors.
By Matthew Heller | January 31, 2017
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Western Union Fined $585M for Aiding Scams
Risk & Compliance

Western Union Fined $585M for Aiding Scams

U.S. authorities say Western Union's own agents processed payments for fraudsters in return for a share of the proceeds.
By Matthew Heller | January 20, 2017
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Marketplace Lending ‘Untested’: Treasury
Risk

Marketplace Lending ‘Untested’: Treasury

How will online lenders fare in an adverse credit environment? More transparency on loans and securitization markets is needed, says Treasury.
By Matthew Heller | May 11, 2016
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U.S. Unveils Anti-Money Laundering Package
Risk & Compliance

U.S. Unveils Anti-Money Laundering Package

The measures include requiring financial institutions to identify the beneficial owners of companies opening accounts with them.
By Matthew Heller | May 10, 2016
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Citigroup Discloses FIFA Bribe Probe Subpoena
Risk & Compliance

Citigroup Discloses FIFA Bribe Probe Subpoena

Federal prosecutors are investigating whether banks should have raised alarms about money transfers linked to allegedly corrupt FIFA officials.
By Matthew Heller | February 29, 2016
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Feds Move to Curb Real Estate Secrecy
Risk & Compliance

Feds Move to Curb Real Estate Secrecy

The anti-money laundering action means buyers of high-end property in Manhattan and Miami can no longer hide behind shell companies.
By Katie Kuehner-Hebert | January 13, 2016
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