In a significant move for the financial sector, Treasury Prime, a leading embedded banking software provider, has announced a strategic partnership with Greenlite, an AI-driven compliance platform. This collaboration seeks to bolster anti-money laundering (AML) and risk management capabilities
The settlement reached between TD Bank and the United States government, involving a record $3 billion fine, serves as a stark reminder of the implications and consequences of lapses in Anti-Money Laundering (AML) measures. This historic case has drawn global attention, not just because of its
The Federal Reserve recently terminated a decade-old enforcement action against Citigroup that focused on deficiencies related to the bank’s anti-money laundering (AML) practices. This action, initially taken in 2013 by the Federal Deposit Insurance Corporation (FDIC) and the Office of the C
The Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Department of the Treasury, has recently made the significant decision to withdraw its previous finding that ABLV Bank, AS was a financial institution designated as a primary money laundering concern. This development
Wells Fargo and Mastercard, two giants in the financial industry, find themselves navigating different yet critical challenges. Wells Fargo is currently grappling with regulatory compliance issues that have plagued the bank for years, while Mastercard is taking proactive steps to enhance its
Federal authorities have indicted 18 individuals in connection with a complex bank fraud and money laundering scheme that spanned multiple states and impacted several financial institutions in Iowa. The indictment sheds light on a sophisticated operation involving defendants from Arizona, Iowa,
