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Shell companies, stablecoin and a Bahaman bank that took orders from a gang of fraudsters all took part in a scheme that bilked U.S. victims of millions.
June 10
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Congressional Democrats offered a bill Friday requiring the Treasury Department to apply the anti-money-laundering requirements of the Corporate Transparency Act more fully and help educate small businesses on how to comply with reporting of beneficial ownership information.
June 6
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Maryland passes legislation to oversee the earned wage access industry; Truist Financial adds ex-Morgan Stanley Finance Chief Jonathan Pruzan to its board; The Citizens Bank agrees to buy a First Capital Bank branch in North Carolina; and more in this week's banking news roundup.
May 30
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Upgrading its anti-money-laundering controls is the Canadian bank's top priority following historic failures that led to a $3.1 billion penalty and a U.S. asset cap.
May 22
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Bribed overseas contractors accessed internal systems, triggering a monthslong breach with costs reaching up to $400 million.
May 16
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As banks face mounting check fraud, a newly unsealed indictment reveals how one criminal ring exploited weak spots in the system.
May 14
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Experts warn that stopping modern scams requires more than AI. It takes human oversight, customer engagement and cross-industry collaboration.
May 8
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A Credit Suisse unit pleaded guilty to conspiring to help its customers hide more than $4 billion from the Internal Revenue Service in at least 475 offshore accounts.
May 6
