A former board member of a California financial technology company that marketed itself as being environmentally driven was sentenced to prison for 14 years for defrauding lenders and investors of more than $248 million, according to the DOJ.
Financial Institutions
Posted inFinancial Services
FinCEN proposes overhaul AML rules, would end 2024 risk assessment requirements
A rule overhaul proposed by the U.S. Treasury Department’s Financial Crimes Enforcement Network is designed to reduce compliance burden and would free up banks from tracking all but the most egregious illicit financial activities.
