AntiMoneyLaundering

Former TD Bank Employee Admits Guilt in Major Data Theft Case

1 month ago

In a significant legal development that underscores the importance of data security in the financial sector, a former employee of TD Bank has pleaded guilty to charges related to the theft of sensitive customer information. The individual, now facing serious legal consequences, admitted to unlawfully accessing and stealing data during their time at the bank.

Philippines Set to Exit FATF Watchlist: Boosting Cross-Border Transactions

3 months ago

The Philippines is on track to be removed from the Financial Action Task Force (FATF) grey list, a move that is expected to significantly enhance the country's business environment and improve cross-border deals. This development follows concerted efforts by the Philippine government to strengthen its anti-money laundering and terrorist financing measures, which had previously placed the country under increased surveillance by the FATF.

Bank of America Agrees to Anti-Money Laundering Consent Agreement with OCC

5 months ago

In a significant move towards enhancing its compliance protocols, Bank of America (BofA) has recently entered into a consent agreement with the Office of the Comptroller of the Currency (OCC). This action follows a series of findings from a comprehensive review of the bank’s anti-money laundering (AML) practices.

Metro Bank Hit with £16.7 Million Penalty for Lapses in Anti-Money Laundering Protocols

6 months ago

Metro Bank, a prominent player in the UK's banking sector, has come under fire following a hefty fine totaling £16.7 million, equivalent to approximately $20.5 million. This reprimand was issued by the Financial Conduct Authority (FCA), which cited significant failures in the bank's anti-money laundering (AML) systems and controls. The financial impact stems from deficiencies that the FCA determined could lead to severe repercussions if not rectified.