Reported by Braddock Stevenson The revised rules’ renewed emphasis on innovation, and their requirement that financial institutions ensure their operational program requirements are US-based, also carry potential impact. To drive innovation and effective programmatic changes and reduce regulatory hindsight, banks and other financial institutions should consider several steps. Develop data-driven measurements for risk over qualitative […]
Reported by Lisa Cavazuti For much of his career as a federal drug agent, Ray Donovan had a singular focus: the capture of Mexican cartel boss Joaquin “El Chapo” Guzman. When Guzman was finally arrested in early 2014, fentanyl trafficking was on the rise in the U.S., and Donovan soon found his next project. He enlisted a data […]
Reported by Lananh Nguyen NEW YORK (Reuters) -Wells Fargo is being investigated by government authorities over issues in its anti-money laundering and sanctions programs, the bank said on Thursday in a filing. The company did not specify which government was inquiring about its practices. Read full report: https://finance.yahoo.com/news/wells-fargo-faces-government-probe-215048093.html
Reported by Bruce Kelly David Gentile, founder and CEO of GPB Capital Holdings, and Jeffry Schneider, broker-deal chief, were founder guilty on all fraud counts they faced on Thursday morning in a seven-week trial in federal court in downtown Brooklyn. The 12-person jury found Gentile guilty of all five counts he faced; conspiracy to commit […]
Financial Crime News Briefs 