Tag: Money Laundering


Morgan Stanley AML probe draws SEC, OCC, Treasury focus: report

April 12, 2024

Via: Banking Dive

Multiple U.S. regulators have joined the probe into Morgan Stanley’s efforts to prevent potential money laundering by its wealth clients, according to a report from The Wall Street Journal. The Securities and Exchange Commission, the Office of the Comptroller of […]

Capital and Risk, Operational

MAS unveils new Cosmic platform to help banks defend against terrorism financing and money laundering

April 3, 2024

Via: FinTech Futures

Cosmic was co-developed by MAS and six commercial Singaporean banks – Citibank, DBS, HSBC, OCBC, UOB, and Standard Chartered Bank – with these financial institutions being the first to implement the solution during its initial phase. MAS states that information […]


Germany’s BaFin warns Deutsche Bank of potential fines if it doesn’t improve money laundering controls

February 20, 2024

Via: FinTech Futures

The regulator has extended the stay of its special representative at Deutsche Bank until 30 October 2024 to report on and assess the progress of the bank’s implementation of safeguards against money laundering and terrorist financing. The representative was first […]


Treasury Announces Renewed Push for Investment Adviser AML Rules in Q1 2024

January 11, 2024

Via: JD Supra

The United States Department of the Treasury has announced that it is working to address what it perceives as money laundering risks associated with investment advisers. Specifically, the agency asserts that absent consistent and comprehensive anti-money laundering (“AML”) and countering […]


Cryptocurrency Exchange Binance and its Founder Plead Guilty to Money Laundering Charges

November 27, 2023

Via: JD Supra

On November 21, 2023, the U.S. Justice Department unsealed charges against cryptocurrency exchange Binance and Binance CEO Changpeng Zhao for violating anti-money laundering provisions of the Bank Secrecy Act (“BSA”) and for causing violations of U.S. sanctions issued pursuant to […]


EU drafts crypto transfer rules to fight money laundering

April 4, 2023

Via: FinTech Futures

Members of the European Parliament (MEP) have adopted draft legislation strengthening EU rules against money laundering and terrorist financing with MEPs set to negotiate the final shape of the legislation with EU governments. The parliament will vote on it during […]

Capital and Risk, Operational

5 Cyber Threats FinTech Companies Should Watch Out For

April 26, 2021

Via: TechBullion

FinTech companies have been gaining momentum since the beginning of the pandemic. They have significantly improved their services and even merged with the traditional banking methods. Major banks have integrated fintech into their existing systems to offer more options. So […]

Activity, Investment Banking

JPMorgan and Deutsche Bank Named in Money Laundering Report

September 21, 2020

Via: TheStreet

Bank shares were reeling Monday morning following a report charging that JPMorgan Chase (JPM) – Get Report, Deutsche Bank (DB) – Get Report and other financial services companies had defied money laundering crackdowns even after being fined by U.S. authorities. […]


EBA calls for EU-wide set of anti-money laundering rules

September 14, 2020

Via: Banking Technology

The EBA is responding to a call for advice issued by the European Commission (EC). It sets out how the EU legal framework needs a boost to tackle vulnerabilities linked to divergent national approaches. Under current guidelines, EU states have […]

Capital and Risk, Operational

Deutsche Bank Offices Are Searched in Money Laundering Investigation

November 29, 2018

Via: The New York Times

One hundred seventy officers searched the headquarters of Deutsche Bank in Frankfurt and five other sites in the area early Thursday as part of a money-laundering investigation involving hundreds of millions of euros, prosecutors in Frankfurt said. Two employees, who […]


Danske Bank Whistleblower Says U.S., European Banks Helped Launder Money

November 19, 2018

Via: Insurance Journal

The whistleblower who revealed suspected money laundering involving Danske Bank said on Monday that two major U.S. and one European banks were among several which had helped process suspicious payments. Payments totaling 200 billion euros ($228.5 billion) made through Danske […]


Danske Bank Faces U.S. Inquiry Over Money Laundering

October 5, 2018

Via: Banking Industry NY Times

COPENHAGEN — Danske Bank, which last month acknowledged failing to prevent suspected money laundering at its Estonian branch, has now drawn the attention of United States authorities. In a statement on its website, the Danish lender said it was cooperating […]

Activity, Trading

Bitcoin tumbles 9% after Japan watchdog orders exchanges to beef up practices against money laundering

June 22, 2018


Bitcoin prices fell roughly 9 percent Friday after Japan’s financial regulator ordered several cryptocurrency exchanges to improve their practices against money laundering. The digital currency was trading at $6,150, according to CoinDesk, breaking below $6,400 for the first time in […]


HSBC dodges US money laundering charges

July 13, 2016

Via: Banking Technology

HSBC has escaped charges of money laundering by US officials due to fears by the Department of Justice (DOJ) it might create a “global financial disaster”. A US Congressional report shows that UK officials, including Chancellor George Osborne, used their […]