WASHINGTON–The Financial Crimes Enforcement Network (FinCEN) has announced new efforts to curtail and impede Business Email Compromise (BEC) scammers and other criminals who profit from their schemes.
Fresh Today
BRUSSELS, Belgium—The Belgian branch of Dutch multinational bank ING has been hit with a fine of more than €300,000 for failing to enforce anti-money laundering regulations for over a decade despite the “suspicious activity” of a Russian-owned account, The Brussels Times reported.
ALBANY, New York—The New York Department of Financial Services (NYDFS) has granted virtual currency licenses to two subsidiaries of crypto derivatives provider Seed CX.
WASHINGTON–A credit union executive here told the Senate Banking Committee it’s time for Congress to pass the SAFE Act, as the current situation related to banking cannabis businesses is a growing safety and risk concern.
WASHINGTON–While Robert Mueller’s testimony on Capitol Hill on Wednesday will dominate news coverage this week, credit unions are paying attention to several other hearings, including one at which a credit union executive will testify.
WASHINGTON—The Financial Accounting Standards Board, which issued the current expected credit loss (CECL) standard, has issued a second CECL question-and-answer document about the standard.
NEW YORK—Sixty New York City taxi medallions sold in auction on July 17 for $110,500 per medallion, below the already depressed prices seen recently in other auctions.
WASHINGTON—New bipartisan legislation introduced in the Senate would establish an interagency working group tasked with developing accountability metrics to enhance cybersecurity protocols and protecting federally-funded research and development activities from foreign interference, espionage, and exfiltration.
WINSTON-SALEM, N.C.—Long-tine CEO Marc Schaefer, who played a key role in the history of credit unions, announced he is retiring at the end of 2019.
WASHINGTON–Equifax has reached an agreement with the Federal Trade Commission to pay up to $700 million to state and federal regulators in order to settle investigations into its massive 2017 data breach.