Regulation

Former Goldman Sachs Group banker Asante Berko was arrested on charges that he orchestrated bribes to Ghanaian officials while employed at the investment bank.

UBS Group's Frankfurt and Munich offices are being searched by prosecutors as part of a money laundering investigation linked to the sanctioned Russian oligarch Alisher Usmanov, people familiar with the probe said. 

Deutsche Bank was told by the German financial watchdog BaFin that it must fix its controls within given deadlines if it wants to avoid a financial punishment.

The $7.1 billion-asset bank has established a partnership with the nonprofit HoneyBee that harks to its early days serving underbanked Korean business owners in Los Angeles in the early 1980s.

The central bank terminated a cease-and-desist order issued against the Agricultural Bank of China and its New York branch in 2016 for breaking anti-money-laundering rules.

U.S. Supreme Court justices questioned the legality of stiff penalties the federal government says it can impose on people who fail to file required reports listing their foreign bank accounts.

The rule, which is not due out until 2024, will promote competition among financial institutions and data aggregators, Consumer Financial Protection Director Rohit Chopra said at a fintech conference.

ING said it is aware of the Payvision probe but is not itself a subject of this investigation.

The industry needs a leader to be the face of a lawsuit challenging the proposal. The author nominates JPMorgan Chase's Jamie Dimon.

Labor costs constitute a major piece of banks' spending on preventing financial crimes despite technological advancements, and costs are leveling off despite new legislation. Here's why.