Broker-dealer Merrill Lynch has agreed to pay a total of $12 million in fines to regulators for failing to file about 1,500 suspicious activity reports over more than a decade. Under U.S. anti-money-laundering rules, broker-dealers like Merrill Lynch are required to file suspicious activity reports to ...Read More

A landmark U.S. reform to stamp out anonymous companies that hide dirty money is in danger of effectively dying at the hands of the federal agency tasked with implementing it, advocates of the effort warn. For months, the U.S. Treasury Department’s quest to build ...Read More

Penalties for failing to stop financial crimes jumped by more than 50% last year. That’s according to a report by the Financial Times (FT), which says the spike has led to warnings that these fines aren’t stopping the flaws in the system that have allowed ...Read More

The U.K.’s Financial Conduct Authority (FCA) is reportedly investigating Barclays for suspected failings in its compliance and anti-money laundering systems. The Authority requested an independent review of Barclays’ systems last year after noting the number of anti-money laundering incidents, the Financial Times reported, citing people ...Read More