Banking
Follow AML/CFT developments affecting retail, commercial, corporate, correspondent, private and digital banks. Coverage includes customer due diligence, beneficial ownership, transaction monitoring, suspicious transaction reporting, sanctions controls, correspondent banking and regulatory enforcement.
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Fintel Alliance Finds Coordinated Mortgage Fraud Across Major Australian Banks
AUSTRAC’s Fintel Alliance has identified coordinated mortgage fraud and systemic weaknesses across Australia’s lending sector after analysing data from 10 major banks. According to AUSTRAC,…
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Saudi Banks Apply Enhanced AML Checks to UAE-Bound Transfers, Reuters Reports
Saudi banks have begun applying additional anti-money laundering and counter-terrorist financing checks to transfers destined for the United Arab Emirates, according to a Reuters report…
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JPMorgan Ended Polymarket Banking Relationship Amid Regulatory Concerns
JPMorgan Chase ended its direct banking relationship with prediction-market platform Polymarket in October 2025 because of regulatory concerns, according to reporting published by Reuters on…
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Former Brooklyn Bank Manager Sentenced for Laundering $8 Million in Medicare Fraud Proceeds
A former Brooklyn bank relationship manager has been sentenced to 18 months in prison for helping a transnational criminal organisation launder more than $8 million…
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Union of Arab Banks Training Focuses on Agentic AI and AML/CFT Governance
The Union of Arab Banks is holding a two-day training programme on 13–14 August 2026 focused on governing autonomous banking systems and the use of…
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US Treasury Targets Iran’s Global Clandestine Currency Networks
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned a network of exchange houses, companies and facilitators accused of helping…
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Ex-Raiffeisen CEO Pierin Vincenz Appeals Fraud Conviction
Former Raiffeisen CEO Pierin Vincenz has returned to court as judges review his 2022 fraud conviction and disputed acquisition-related gains.
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Former Goldman Banker Convicted in $1m Ghana Bribery Case
A former Goldman Sachs banker has been convicted of bribing Ghanaian officials and concealing the scheme from the bank’s compliance function.
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US Senator Seeks Bank Probes Over Epstein-Linked Accounts
Senator Ron Wyden has called for regulators to examine whether major banks reported suspicious transactions linked to Jeffrey Epstein in a timely manner.
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Bank of America Warns of Possible New AML Penalties
Bank of America says it is discussing a resolution with the OCC over deficiencies addressed in a December 2024 AML consent order.
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