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Banks face gaps in fraud and money laundering defenses

Banks face gaps in fraud and money laundering defenses

Fragmented monitoring leaves financial institutions exposed to financial crime risks
Bank Of America Reeling From $1.2bn Money Laundering Fine

Bank Of America Reeling From $1.2bn Money Laundering Fine

Fresh scrutiny of lender’s compliance controls as penalty hits Q3 earnings
American Express Fined $350m Over AML Failures

American Express Fined $350m Over AML Failures

Regulators cite systemic weaknesses after bank failed to adequately report around $13bn in suspicious activity
Polymarket Valued at $21bn in Trump Jr.-Linked Funding Round

Polymarket Valued at $21bn in Trump Jr.-Linked Funding Round

Round raises prediction-market platform’s valuation by 40% as it expands its regulated US business
Slow Advancement of AI Poses Risks to Fincrime Defense, According to SAS Study

Slow Advancement of AI Poses Risks to Fincrime Defense, According to SAS Study

It is striking that 40% have no plans to adopt AI/ML in the near future
Metro Bank fined over money laundering risks

Metro Bank fined over money laundering risks

The Financial Conduct Authority has fined Metro Bank £16.7 million
AI Could Save $3.13 Trillion in Money Laundering

AI Could Save $3.13 Trillion in Money Laundering

Global economies can use AI to prevent and detect money laundering and terrorist financing
Bank Associations Call for Industry-Wide Collaboration to Combat Scams

Bank Associations Call for Industry-Wide Collaboration to Combat Scams

Despite their efforts and technological investments, banks cannot fight fraud on their own
FinCEN Underestimates Community Banks’ Reporting Burden

FinCEN Underestimates Community Banks’ Reporting Burden

ICBA says rules for reporting suspicious activity reduces community bank’s ability to attract capital
Jefferies: TD fines could reach $4 Billion

Jefferies: TD fines could reach $4 Billion

Toronto Dominion Bank could face fines of $4 billion relating to money laundering charges in the United States
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