The recent enforcement action against Bank of America by the Office of the Comptroller of the Currency (OCC) highlights the significant regulatory pressures financial institutions face in ensuring robust Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance. The OCC's cease-and-desist
Money laundering with cryptocurrency presents a significant challenge as the nature of cryptocurrencies complicates tracking transactions, often enabling illegal activities to thrive. This article delves into how money laundering occurs within the crypto ecosystem, the techniques employed by
The intricate challenges of financial crimes, especially involving large sums of government funds, were spotlighted as the Economic and Financial Crimes Commission (EFCC) arraigned businessman Akindele Akintoye on December 24, 2024. These charges, which include money laundering and contract fraud,
The Canadian Regulatory Technology (RegTech) sector is experiencing significant growth, driven by technological advancements and increasing regulatory pressures. As businesses seek more efficient compliance solutions, the market is projected to reach $877 million by 2029. This article delves into
The RegTech market, which leverages technology, artificial intelligence (AI), and big data to aid organizations in complying with regulations more efficiently, is set to reach an impressive USD 24 billion by 2030. This surge represents a compound annual growth rate (CAGR) of 16.5%, highlighting the
In a striking revelation, three individuals linked to Evergreen Recovery, Inc., a drug and alcohol treatment center, have been implicated in an extensive Medicaid fraud and money laundering scheme that highlights the vulnerabilities in healthcare systems. Operating from March 2018 to July 2024, the
