From Investing.com: 2024-11-13 18:51:15

U.S. regulators are ramping up efforts to combat money laundering and enforce know-your-customer rules post-Trump’s election victory. Financial crimes will remain a bipartisan issue, with enforcement actions expected to highlight compliance with the Bank Secrecy Act. Officials are scrutinizing banks’ operations and risk management practices, with TD Bank already hit with a record $3 billion fine for violating U.S. money laundering laws. Wells Fargo and Bank of America are also facing regulatory actions for insufficient safeguards against money laundering and sanctions evasions.



Read more at Investing.com: US regulators warn bankers about intensified focus on financial crime By Reuters