PYMNTS
FEBRUARY 22, 2019
Office of the Comptroller of the Currency (OCC), over deficiencies that the OCC identified in the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program. The OCC identified the deficiencies in the bank’s branches in New York, Los Angeles and Chicago. MUFG Bank said the OCC recognized improvements the bank made to its U.S.
PYMNTS
MARCH 18, 2019
The term “money laundering” is believed to have originated as a result of infamous Chicago gangster Al Capone’s habit of channeling criminally obtained funds through laundromats, as their cash-heavy nature made it more difficult for the right side of the law to detect such money mixed in among legitimate payments.
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PYMNTS
SEPTEMBER 29, 2020
The Chicago-based FinTech announced on Tuesday (Sept. A division of Partner Colorado Credit Union, Safe Harbor provides a compliance-based banking program for cannabis businesses. Alternative payments platform AeroPay is looking to accelerate its growth after closing a seed round of capital led by a top FinTech investment firm.
Bank Innovation
APRIL 9, 2019
The speed at which financial institutions are expected to meet changing customer demands drove Chicago-based fintech Amount and TD Bank into a strategic partnership that will have the bank using Amount's platform to make personal loans.
PYMNTS
MAY 19, 2016
The Chicago Tribune is reporting that Illinois is set to add facial recognition services to its driver’s license application process. Among the proposed methods, facial recognition has long been a pie-in-the-sky solution, but Illinois is the latest state to show that there’s a future in the tech. ”
Independent Banker
OCTOBER 1, 2022
But as the prevalence of security breaches grows, so do the opportunities for community banks to position themselves as guardians of their customers’ personal data through compliance, technology and relationship building. Data privacy and security is a hot topic and is only getting hotter. By Katie Kuehner-Hebert. Bob Hickok.
PYMNTS
FEBRUARY 18, 2019
trillion a year, reported Mansion Global, citing data from Accuity, a global risk and compliance company. Money laundering through real estate is about $1.6 Patrick Hinchin, vice president of commercial strategy at Accuity, said in the report that money laundering through real estate is becoming more common in Australia, America and the U.K.
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