Bunq wins AML case against Dutch Central Bank

Dutch challenger bank Bunq has hailed a "landmark" verdict in the Dutch courts over the use of artificial intelligence (AI) for anti-money laundering processes.

Fincen Files: Leaked documents allegedly show global banks moving vast sums of illicit cash


Yahoo Finance’s Tom Belger reports on the Fincen Files which exposed banks allegedly moving illicit cash around the world for corrupt officials, drug lords, and terrorists.
#Fincen #bankstocks #FincenFiles

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Banks Moved $2 Trillion, Defying Orders, ICIJ Report Says


Sep.21 — An investigation by the International Consortium of Investigative Journalists says JPMorgan Chase & Co., Deutsche Bank AG and several global banks “kept profiting from powerful and dangerous players” in the past two decades even after the U.S. imposed penalties on these financial institutions. The documents identified more than $2 trillion in transactions between 1999 and 2017 that were flagged by financial institutions’ internal compliance officers as possible money laundering or other criminal activity, the report, dubbed the FinCEN Files, said.

Money Talks: UK banks flagged for money laundering


They’ve been hit with fines amounting to tens of billions of dollars in recent years, for mis-selling insurance and mortgage products. And some have even been bailed out by the government. But now the UK’s high street banks are facing up to a new scandal. Some, including HSBC and RBS, have reportedly been allowing Russian criminals to launder hundreds of millions of dollars over the past few years. TRT World reporter Matthew Moore is in London and Robert Barrington, executive director at Transparency International UK, comments.

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How money is laundered through New York banks


By filing suspicious activity reports to regulators, big banks in the U.S. can collect transfer fees on suspicious transactions. Failure to file a SAR can expose banks to fines or penalties.

Read our full investigation: https://www.icij.org/investigations/fincen-files/