All Financial Services articles – Page 65
-
ArticleDeutsche Bank ordered to further improve AML controls
BaFin, Germany’s market regulator, signaled Deutsche Bank still has more to do concerning previously ordered improvements to its AML compliance controls.
-
ArticleMoneyGram plagued by tech, human error in OFAC sanctions settlement
The Office of Foreign Assets Control announced a $34,329 settlement with MoneyGram Payment Systems for apparent violations of multiple sanctions programs, including the processing of transactions involving Syria.
-
Article
Danske Bank compliance costs down after completing internal Estonia probe
New Danske Bank CEO Carsten Egeriis told investors compliance costs at the bank have stabilized now that a forensic audit into a money laundering scandal involving its Estonia branch is complete.
-
ArticleGoldman Sachs hires chief risk officer back from Wells Fargo
Brian King will return to Goldman Sachs as consumer chief risk officer and head of business operations after seven months with Wells Fargo.
-
VideoVideo: ABN AMRO refreshingly accountable; pharmacists lose in COVID-19 vaccine push
Kyle Brasseur seeks silver linings from ABN AMRO’s €480 million settlement for AML failures, while Aly McDevitt calls out the retail pharmacies overextending their employees for the sake of distributing more COVID-19 vaccines.
-
ArticleCredit Suisse’s governance rebound a tall task after ‘unacceptable’ losses
Putting the collapses of Archegos Capital and Greensill Capital behind it won’t be simple for Credit Suisse amid staggering financial losses and widening scrutiny from Switzerland’s financial regulator.
-
ArticleRegulators want answers from financial services on AI/ML tools
The financial services industry is at the cutting edge of the utilization of artificial intelligence and machine learning tools. Regulators have recently requested to understand how these technologies are being used—or misused.
-
ArticleABN AMRO fine response suggests moral compass of banking is shifting
ABN AMRO CEO Robert Swaak acknowledging his bank’s “moral duty” to prevent money laundering should be welcomed by all in the global AML community as progress, writes Martin Woods.
-
ArticleABN AMRO to pay $575M in money laundering settlement with Dutch authorities
Dutch bank ABN AMRO reached a €480 million (U.S. $575 million) settlement with the Netherlands Public Prosecution Service to resolve money laundering charges.
-
ArticleDanske Bank CEO, board member resign amid ABN AMRO probe
Danske Bank CEO Chris Vogelzang and board member Gerrit Zalm each resigned after being identified as suspects in ABN AMRO’s money laundering scandal. Chief Risk Officer Carsten Egeriis will take over as Danske’s CEO.
-
ArticleU.S. sanctions Russia over SolarWinds hack
The Treasury Department announced sanctions against Russia implemented under an executive order from President Joe Biden in response to the SolarWinds hack and alleged election interference by the country.
-
Article
Ponzi scheme mastermind Bernie Madoff dead at 82
Disgraced financier Bernie Madoff, whose decades-long fraud swindled thousands of investors out of billions of dollars, died in federal prison Wednesday.
-
ArticleArchegos collapse: $20 billion in losses, but a win for compliance
The collapse of Archegos Capital Management may go down as yet another episode that champions the importance of the voice of the compliance professional, writes Martin Woods.
-
ArticleCompliance lessons, regulatory fallout from Archegos meltdown
There are plenty of unanswered questions following the recent meltdown of family office Archegos Capital Management—and plenty of compliance lessons to be learned, writes Aaron Nicodemus.
-
VideoVideo: Deutsche Bank, Credit Suisse, and combining risk and compliance
Aly McDevitt and Kyle Brasseur assess changes in compliance and risk management functions at Deutsche Bank and Credit Suisse in light of recent scandals at each bank.
-
ArticleCredit Suisse compliance chief steps down in Archegos collapse aftermath
Credit Suisse Chief Risk and Compliance Officer Lara Warner has stepped down from her role and left the company following the bank’s loss of an estimated $4.7 billion due to the meltdown of hedge fund Archegos Capital Management.
-
ArticleOutgoing FinCEN head Kenneth Blanco to join Citi as financial crimes CCO
Kenneth Blanco has been tapped to lead a new financial crimes unit at Citi following his departure as director of the Treasury Department’s Financial Crimes Enforcement Network later this week.
-
ArticleRobert Mazur: Old tricks still work for launderers; new policies could help
Former federal agent Robert Mazur revealed secrets of the money-laundering trade to attendees of CW’s Financial Crimes virtual event and proposed two solutions for financial institutions in the fight against bad actors.
-
ArticleMoody’s fined $4.4M for European conflict-of-interest violations
Five European subsidiaries of Moody’s Corp. have been fined a total of €3.7 million (U.S. $4.4 million) by the European Securities and Markets Authority for violating conflict-of-interest rules.
-
ArticleChina, Russia to face more sanctions under Biden, experts say
Companies should prepare for more U.S. sanctions to be levied against China and Russia under the Biden administration, two former financial crime regulators predicted at Compliance Week’s Financial Crimes virtual event.