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The National Crime Agency has seen a surge in so-called suspicious activity reports filed by banks and other regulated institutions in the U.K. since February.
July 22
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New types of financial products designed for the underserved can also be susceptible to scamsters, Juniper Research found, mirroring the Federal Trade Commission's concerns.
July 21
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JPMorgan Chase must face a trial over claims by a former vice president in its anti-corruption unit that she was marginalized, mistreated and fired from the bank for complaining about compliance failures.
July 20
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In one scheme, criminals impersonated a financial institution and defrauded victims of $3.7 million. The FBI advised banks to warn customers about such scams.
July 19
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If the agency’s treatment of Bank of America is extended to the rest of the industry, it will cause widespread confusion and excessive regulatory burden.
July 18
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The operators of a Texas payments firm with ties to the U.K. pleaded guilty in the U.S. to money laundering failures after their business facilitated the shipping of $160 million to Nigeria over about three years.
July 15
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At a minimum, the court’s ruling will create confusion and invite endless litigation.
July 15
North Carolina School of Law -
The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau, which levied the penalties, say Bank of America unfairly froze customer accounts in its effort to stop rampant fraud in a program that distributed pandemic aid through prepaid debit cards.
July 14
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The cryptocurrency lender Celsius Network filed for Chapter 11 bankruptcy, the latest casualty of a $2 trillion crash that has wiped out some of the industry’s biggest names and exposed hundreds of thousands of individual investors to steep losses.
July 14
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Citigroup has won part of its appeal in a discrimination suit brought by a former banker who was laid off after being called “old” at the age of 55.
July 14
