Directive (EU) 2024/1654, recently adopted by the European Union, marks a significant step in enhancing cross-border law enforcement access to centralized bank account registries. By amending Directive (EU) 2019/1153, it aims to streamline the process of investigating illicit financial activities
The fight against drug money laundering is a critical challenge facing financial institutions worldwide. Among these, Citigroup has recently come under scrutiny for its alleged role in facilitating drug money laundering activities. This article explores the intricacies of this case, examining the
Integrating Artificial Intelligence (AI) into the banking industry has become a strategic imperative for enhancing operational efficiency and boosting customer experience. This transformative wave aims to streamline processes, improve decision-making, and provide personalized services to customers.
The recent enforcement action taken by the Federal Deposit Insurance Corporation (FDIC) against Thread Bancorp highlights the heightened regulatory scrutiny smaller banks face, particularly concerning their relationships with FinTech firms. This examination underscores the operational, compliance,
The collapse of fintech upstart Synapse has sent ripples through the banking world, highlighting significant issues in the partnerships between fintech firms and traditional Financial Deposit Insurance Corporation-backed lenders. This article delves into the details of Synapse's downfall and
The Consumer Financial Protection Bureau (CFPB) recently extended the compliance deadlines for its small-business data collection rule, providing lenders with crucial additional time to adapt their systems and procedures. Announced in the wake of substantial legal and political challenges, this
