When you work in financial services, your boss is under extraordinary pressure to make sure that you do not share evidence or testimony of misconduct…
Banks Struggling to Keep Up with AML Regulations in Wake of Russia Sanctions
U.S. banks are treading carefully when it comes to sanctions against Russia, making sure to comply with a growing list of requirements while ensuring lawful…
FATF Pushing to End Corporate Anonymity
New guidelines announced with little fanfare by the world’s anti-money laundering watchdog this month were unrelated to the race to punish the Kremlin and its…
WeChat Embroiled in Sprawling Money Laundering Scheme
Chinese financial regulators are deliberating over a record fine for Tencent’s mobile payment product WeChat Pay, The Wall Street Journal reported on Monday. The exact…
Whistleblowers Catch Banks Continuing to Launder Money Even After Flags
A whistleblower recently leaked data from Credit Suisse revealing that the bank opened accounts for and served numerous individuals with criminal ties, including sanctioned businessmen…
Treasury Looks to Beef Up Protections for AML Whistleblowers
The U.S. Treasury Department is currently drafting proposed rules to implement the whistleblower provisions of the Anti-Money Laundering (AML) Act of 2020. These rules will…
$365 Million Money Laundering Scheme Exposed by DOJ
A Queens, New York, man today admitted his role in coordinating a $653 million money laundering conspiracy, operating an unlicensed money transmitting business, and bribing…
Judge Excoriates SEC Over Loose Whistleblower Regulations
A federal appellate judge criticized the U.S. Securities and Exchange Commission over its whistleblower award program on Monday, saying its rules were among the “sloppiest”…
Swedish Banker Faces Jail Time over AML Charges
The former chief executive of Swedbank has been charged with fraud, market manipulation and the unauthorised disclosure of inside information, after an investigation into a…
The Former King of Spain Escapes Money Laundering Charges, For Now
Geneva prosecutors have dropped a criminal investigation into suspected money laundering connected to former Spanish king Juan Carlos. Investigators said there was not enough evidence…