The UK government has rejected calls to reconsider the anti-money laundering (AML) supervisory role of the country’s tax regulator, speed up action on de-risking and focus on calculating the true...
Despite the perception that U.S. legalized marijuana has a payments problem, industry executives and analysts believe an increasing number of financial institutions are quietly opening their doors...
U.S. banks and payments providers eyeing state-legalized cannabis businesses must battle with both a lack of legal clarity at the federal level and difficulties carrying out due diligence on...
A Lebanese money dealer who allegedly moved around tens of millions of dollars a week in laundered drug money was slapped with sanctions by the U.S. Treasury on Thursday.
On April 10, 2019, UK Finance released a report, jointly drafted with EY Financial Services, titled “Third-Party Risk Management: Keeping control in a rapidly changing world”, which recognises the...
A top Federal Reserve lawyer is sounding the alarm over trade-based money laundering, calling on banks across the globe to step up their efforts on the front lines of combating what has become a...
A bill designed to help break the impasse that has long kept legal cannabis businesses in the U.S. from accessing banking services has passed a key step toward approval by the House of...
UK authorities have not yet taken any regulatory action against banks that deny account services to payment providers, new figures reveal, reigniting debates over the industry’s battle against...
Malta’s financial regulator is seeking to stop risks from its new virtual asset licensing regime spilling over into other parts of the country’s financial sector, following a rebuke from the...
The House Financial Services Subcommittee on National Security, International Development and Monetary Policy held its first meeting of the current Congress on Wednesday, during which lawmakers...
The UK government must overhaul the country’s fractured anti-money laundering (AML) supervisory regime and come up with strategies to tackle de-risking, the parliament’s Treasury Select Committee...
Danske Bank’s €200bn money laundering scandal continues to escalate, with European authorities launching a probe into Estonia and Denmark’s handling of the affair just as the company pulls the plug...
HSBC has severed its long-standing ties with an Iranian-owned British bank subject to US sanctions, finally closing an account it had kept on its books even during the darkest days of the global...
In a milestone Congressional hearing this week U.S. lawmakers examined the challenges faced by legal marijuana businesses in accessing financial services, and considered establishing safe harbor...
Canada’s risk-averse banking sector has meant payment providers eyeing Canada’s multi-billion dollar marijuana industry are still struggling to gain a foothold in the market, despite federal...
U.S. marijuana companies were expected to generate as much as $10bn in retail sales last year, a figure that is only going to increase as more states consider legalizing recreational marijuana.

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