Cleaning up a dirty business: Money laundering in financial markets

In recent weeks, regulators have reprimanded leading investment banks for insufficient money laundering controls within their markets and broker-dealer business. This comes as no surprise; few have invested adequately in protective controls, which creates unnecessary exposure. In its 2018 Report on Examination Findings, the Financial Industry Regulatory Authority (FINRA) noted increased trading within firms by foreign entities Read More

By |2020-05-27T17:58:09-05:00April 22nd, 2019|Comments Off on Cleaning up a dirty business: Money laundering in financial markets

In the money laundering fight, what comes out in the wash? Artificial intelligence

It’s an eternal worry for banks: how best to detect and report money laundering. And the problem grows bigger and costlier by the day. Such transactions represent 2 to 5 percent of global GDP—or roughly $1 trillion to $2 trillion a year, according to a PriceWaterhouseCoopers global survey of banks in 2015 and 2016. And to be Read More

By |2020-05-27T17:59:44-05:00May 25th, 2017|Comments Off on In the money laundering fight, what comes out in the wash? Artificial intelligence