Reputational risk could pose a regulatory threat to payment providers, legal experts have warned, after multiple firms took steps to disassociate themselves from political tensions in the U.S.
UK regulator says GDPR is a "boardroom-level" issue; Germany issues video KYC reforms; the United States and Saudi Arabia sign an "historic" agreement to combat terrorism financing; Estonia's e...
The U.S. Treasury has blacklisted two money service businesses and a financier for helping Islamic State move money in the first case such sanctions have been used against the global terror group.
Countries grappling with the withdrawal of correspondent banking relationships must work to improve their anti-money laundering and counter-terrorist financing regimes, a U.S. Treasury boss has...
UK financial firms have been advised to check whether their payments operations have been interrupted by the blacklisting of a Canadian payments processor, as the reverberations of the 20-year...
U.S. regulators have blacklisted and launched criminal action against a Canadian payments processor accused of laundering millions of dollars from around the world for conmen for more than 20 years.
U.S. regulators are trying to assuage banks’ concerns over anti-money laundering enforcement, following complaints that global financial institutions are continuing to cut ties with foreign partners.
U.S. regulators' $35m (£27m) enforcement action against a credit card issuer in Nebraska is being cited as evidence of tough policing of the sector, with authorities even targeting third-party...
A U.S. bill seeking to break the stalemate between regulators, banks and remitters has passed its first legal hurdle, giving hope that a pilot program for transfers to Somalia could be established.
Compliance officers at money transmitters in New York will not be personally liable for adhering to new anti-money laundering rules, following successful lobbying from financial services groups.
U.S. regulators are warning that blockchains could destabilize financial systems amid a surge in banks adopting the technology as part of their cross-border payments facilities.
The Financial Stability Oversight Council's (FSOC) Annual Report 2016 has been published by the U.S. Treasury Department, together with the Office of the Comptroller of the Currency, the Securities...
U.S. officials have said that financial sector regulatory reforms are imminent, in an attempt to correct “long-standing weakness” around beneficial company ownership in the country’s anti-money...
Michael Gershberg, Steven Witzel, Justin Schenck and Joshua Roth from Fried Frank law firm summarize the main provisions of the proposed new AML regulation and key takeaways for financial...
New initiatives by international financial crime authorities may give a glimmer of hope to remittance businesses grappling with the global “de-risking crisis”, representatives of SWIFT and Western...
Anthony Rapa and Jessica Piquet Megaw from Steptoe & Johnson LLP provide some detail on OFAC’s recent fine of Barclays for violating Zimbabwe sanctions.

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