Regulatory & Compliance

How Did Inmates Launder $30K from Drug-Laced Paper Sales in Jail?
Regulatory & Compliance How Did Inmates Launder $30K from Drug-Laced Paper Sales in Jail?

The recent revelation of a money laundering scheme within Harris County Jail has brought to light a complex operation involving Joshua Sinclair Owens, currently imprisoned for murder, and his two relatives. Owens managed to generate close to $30,000 by selling paper laced with synthetic marijuana

UK Banks Partner with NCA to Combat Economic Crime through Data Sharing
Regulatory & Compliance UK Banks Partner with NCA to Combat Economic Crime through Data Sharing

The UK has embarked on an ambitious project aimed at countering economic crime, notably money laundering and the handling of "dirty money." A collaborative initiative brings together major UK banks and the National Crime Agency (NCA) to share data and intelligence, marking a significant step in

Comprehensive Guide to Cookie Usage and Consent in Enhanced Browsing
Regulatory & Compliance Comprehensive Guide to Cookie Usage and Consent in Enhanced Browsing

In today's digital landscape, the extensive utilization of cookies and other tracking technologies by companies and their myriad partners plays a crucial role in enhancing the user experience on websites. These technologies, which involve storing and accessing information on user devices, enable

Can Florida's New Law Combat Financial Discrimination Effectively?
Regulatory & Compliance Can Florida's New Law Combat Financial Discrimination Effectively?

A groundbreaking law set to take effect on July 1 in Florida prohibits federal and state depository institutions from denying services to individuals based on their religion, political beliefs, or activities. Signed into law by Governor Ron DeSantis in May, HB 989 extends protections already in

Transforming Banking Compliance: Open AI's Impact on Risk Management
Regulatory & Compliance Transforming Banking Compliance: Open AI's Impact on Risk Management

Open AI has the potential to significantly transform the financial sector, particularly in compliance and risk management. Kinil Doshi, with two decades of experience in banking compliance and risk management, offers insightful perspectives on how Open AI technologies can revolutionize these

Citigroup Fined $136 Million for Persistent Risk Management Failures
Regulatory & Compliance Citigroup Fined $136 Million for Persistent Risk Management Failures

Citigroup Inc. and its subsidiary Citibank, N.A. have faced significant financial penalties from U.S. federal banking regulators due to recurring failings in risk management, internal controls, and data governance. The fines, imposed by the Federal Reserve and the Office of the Comptroller of the

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