A new paper released today by BAFT—ABA’s foreign transaction banking subsidiary—called for increased partnerships between public and private entities to help curb the use of trade transactions to move illicit funds through the financial system.

More than a third of bankers say they expect to spend more money on their Bank Secrecy Act and anti-money laundering programs over the next year, according to a new benchmarking survey by the consulting firm RSM.

Chief compliance officers find themselves caught between a rock and a hard place when reporting AML violations.

The Financial Crimes Enforcement Network today further expanded the scope of its geographic targeting orders temporarily requiring certain U.S. title insurance companies in specified areas to identify the individuals behind companies used to conduct high-end, all-cash real estate transactions.

In a comment letter to the Treasury department yesterday, ABA provided extensive feedback on several Bank Secrecy Act and anti-money laundering regulations that could be eliminated, modified or streamlined to reduce the compliance burden on banks in response to an executive order issued by President Trump earlier this year.

In a letter to Treasury Secretary Steven Mnuchin yesterday, a group of bipartisan lawmakers urged Treasury to prioritize policy changes that would increase coordination between regulatory agencies conducting bank examinations to help reduce the compliance burden on financial institutions.

The number of worldwide correspondent banking relationships continues to decline, according to new figures released yesterday by the Basel, Switzerland-based Financial Stability Board.

The Financial Crimes Enforcement Network today announced steps to safeguard the U.S. financial system against illicit North Korean financial activity.

The regulatory framework put in place to prevent money laundering and stop the financing of terrorist activity should be updated to reflect the changes that have taken place over the past several decades, banker Lloyd DeVaux, president and CEO of Sunstate Bank in Miami, Fla., said today in a hearing before the House Financial Services Committee.