Despite the decentralized nature of cryptocurrencies and other digital assets, Web3 businesses need banking partners. But on Thursday (Aug. 8), news broke that Pennsylvania-based Customers...
A recent enforcement action by the Federal Reserve taken against Customers Bancorp and its Customers Bank subsidiary has taken note of the risks and challenges...
Axle Automation raised $2.5 million in a seed funding round to grow its artificial intelligence (AI)-powered anti-money laundering and know your customer (AML/KYC) solutions. The...
The House of Representatives passed a bill on Monday (July 22) that is designed to combat the use of financial technology for illicit finance. The...
Enforcement actions and fines from regulators — the Federal Reserve, the Office of the Comptroller of the Currency and others — highlight the growing scrutiny...
The Federal Reserve Board said Friday (July 19) that it fined Green Dot $44 million for unfair and deceptive practices and a deficient consumer compliance risk management...
German financial regulator BaFin said Friday (July 12) that Solaris SE faces financial penalties if it doesn’t improve its controls. Solaris, which has a banking license in Germany...
Federal investigators say drug traffickers laundered money through Citigroup, believing it had looser fraud measures. As the Financial Times (FT) reported Monday (July 1), a...
Singapore has identified banks as the entities posing the greatest money laundering (ML) risk to the country. The Monetary Authority of Singapore (MAS), which is a...