Challenges keep mounting for TD Bank (TD), making a rough year for the Canadian banking giant even rougher. The Toronto lender on Thursday reported a third quarter net loss of $133 million, largely in light of billions the bank set aside to pay for expected fines from an ongoing US investigation into its anti-money laundering
Despite the decentralized nature of cryptocurrencies and other digital assets, Web3 businesses need banking partners. But on Thursday (Aug. 8), news broke that Pennsylvania-based Customers Bank, one of the only crypto-friendly banks in the U.S., was served with a 13-page regulatory enforcement action by the Federal Reserve related to its digital asset and dollar token
Cutting-edge financial technology is fast becoming the handmaiden of organised crime, helping some of the world’s most dangerous crooks to move and hide ill-gotten gains. This situation will only get worse, unless governments and the technology industry can find common ground. Money-laundering has a history almost as long as crime itself. But it became much
Binance has been fined $2.25 million (Rs 18.82 crore ) by India’s Financial Intelligence Unit (FIU) for violating the country’s anti-money laundering regulations, reports Reuters. “After considering the written and oral submissions of Binance, the Director, FIU-IND, based on the material available on record, found that the charges against Binance were substantiated” the financial watchdog
The Department of the Treasury has outlined the priorities it will pursue this year to step up the fight against illicit finance. The agency aims to increase transparency, leverage partnerships and support responsible technological innovation, it said in a Thursday (May 16) press release announcing the publication of its “2024 National Strategy for Combating Terrorist and Other Illicit Financing.” One