How Regulators Should Treat Virtual CurrenciesJune 13, 2013Regulators have turned an alert eye on the emerging virtual currency market, and it is only a matter of time before they formulate anti-money laundering and fraud prevention rules specific to the new market.
More Bang for the FATCA BuckMay 10, 2013In the final article in a three-part series on FATCA compliance, we explain why banks need to look for solutions that help them collect and analyze customer identification information to help with compliance in multiple areas beyond FATCA.
Rewriting the KYC PlaybookJanuary 18, 2013Banks must address the "V3challenge" -- questions around variety, velocity and vagueness -- in order to achieve better bank counterparty due diligence, as part of Know Your Customer compliance.
Standard Chartered Fined $330 Million in Iran ProbeDecember 06, 2012Standard Chartered
expects to pay $330 million to settle a case with U.S.
regulators for breaking sanctions on Iran, the Asian-focused
bank said on Thursday, a second such penalty which could almost
wipe out its profit growth this year.
RBS, Commerzbank Drawn Into U.S. Iran Money ProbeAugust 22, 2012U.S. authorities are investigating Royal Bank of Scotland and Commerzbank over possible breaches of sanctions on Iran, in a widening crackdown which has already cost Standard Chartered a hefty fine.
Standard Chartered's New York Nemesis Wins Deal But Makes EnemiesAugust 16, 2012Benjamin Lawsky played hardball with Standard Chartered Plc and a gauntlet of federal and New York regulators and prosecutors right up until the last hours of the $340 million settlement on Tuesday with the British bank over improper and concealed transact