U.K. FinTech Stenn has reportedly collapsed over possible ties to a Russian money laundering scheme. The company was placed into administration — a type of insolvency procedure — earlier this month after a reference to it appeared in a U.S. indictment in a money laundering case, the...
Klarna has been fined $50 million in Sweden over faults in its anti-money laundering protections. Sweden’s Financial Supervisory Authority, or FI, announced Wednesday (Dec. 11) that an investigation into the Swedish payments firm’s compliance with anti-money laundering (AML) regulations between April 2021 and the end...
Banking regulators say a change in presidential administrations won’t change their approach to financial crime. While Donald Trump may be focused on deregulation, banking industry experts at a conference in New York this week say financial crime will remain a bipartisan focus, Reuters reported Wednesday (Nov. 13)....
Last month, the Justice Department settled an anti-money laundering probe into TD Bank. But according to U.S. Sen. Elizabeth Warren, D-Mass., the $3 billion the government received from the Canadian lender was not enough. As The Wall Street Journal (WSJ) reported last week, Warren said...
November 22, 2023
Cryptocurrency exchanges play a vital role in the digital asset ecosystem. They facilitate the buying, selling, trading, transferring, and storing of both individual and institutional holdings of the more than 20,000 crypto tokens in circulation. The role they play, however, is rarely without governmental scrutiny and increasingly legal consequences. From the U.S. Securities Exchange Commission […]
March 14, 2023
The year 2022 was one of the most tumultuous in the cryptocurrency industry’s brief history. It was a record year for another reason, too, as illicit crypto transactions hit a...
July 06, 2022
Where consumers once had to wait for payments to post, they now expect their money to move instantly between accounts. Maximum money mobility is the new imperative of a digital-first...
March 23, 2022
Digital identities are becoming more prevalent as awareness of their security and convenience grows, and they are expanding into new use cases like anti-money laundering (AML). This crime has ballooned...
December 20, 2024
Deutsche Bank Securities agreed to pay a $4 million civil penalty to settle Securities and Exchange Commission (SEC) charges that it failed to file certain Suspicious Activity Reports (SARs) in a timely manner. Without admitting or denying the regulatory agency’s findings, the registered broker-dealer and Deutsche Bank subsidiary agreed to a censure and a cease-and-desist order in […]
December 16, 2024
U.K. FinTech Stenn has reportedly collapsed over possible ties to a Russian money laundering scheme. The company was placed into administration — a type of insolvency procedure — earlier this month after...
December 11, 2024
Klarna has been fined $50 million in Sweden over faults in its anti-money laundering protections. Sweden’s Financial Supervisory Authority, or FI, announced Wednesday (Dec. 11) that an investigation into the...
November 14, 2024
Banking regulators say a change in presidential administrations won’t change their approach to financial crime. While Donald Trump may be focused on deregulation, banking industry experts at a conference in...
