Category: Banking
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Westpac hit with formal warning over failings to detect 8000 international transactions by Reserve Bank of New Zealand
Three banks in Latvia remain ‘high-risk’ for AML/CFT despite overall high efficiency being reached – FinCrime regulator
More than 700 ‘money mule’ transactions identified in first half of 2021 with majority of incidents involving 18 to 24 year olds – FraudSmart
Authorities warned that big techs may carry dangers as their financial capabilities grow; money laundering also a potential risk
Billions in illicit digital funds have moved across accounts in China in the last two years, new study finds
UK’s Financial Conduct Authority (FCA) investigates Monzo over potential anti-money laundering failures
WHAT IT MEANS FOR YOU: ‘It is quite smart’- expert praises EBA’s new compliance guidelines which will likely lead to more uniformity and seniority for bank FCC teams
Multiple banks and other firms will have to divulge information on wealthy Americans linked to tax fraud case
French banking watchdog warns institutions that they still remain ‘ultimately responsible’ in AML – even if they outsource some of their AML assignments
Major British bank Natwest to maintain dramatically reduced limit for online money transfers, saying early indications are that it is ‘helping to reduce fraud’
