Western Union settlement is a stern warning about AML compliance
If you need further proof of how costly failed AML and BSA compliance can be, writes Joe Mont, look no further than a the $586 million settlement Wester Union was just hit with.
Related articles
-
ArticleEU targets crypto, fintech firms in push to tackle money laundering
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
-
ArticleDigital wallets should speed up compliance, but companies must focus on trust and security
The EU has one, the U.K. is getting one, many U.S. states are working with Google and Apple to provide one, and now industry sectors are developing their own digital wallet.
-
News BriefFinCEN again delays U.S. ban on three Mexican financial institutions
The order barring three Mexican financial institutions from doing business with U.S. financial institutions has been delayed until October.