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Tag: Anti-money Laundering

M&T to iron out money-laundering compliance issues

(Biz Journals) M&T Bank has 60 days to fix its anti-money laundering compliance program, according to a newly released written agreement between the Buffalo bank and the Federal Reserve. The June 17 agreement lays out several provisions the bank must meet in order to satisfy the Fed’s concerns, which came to light in April as…
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Fed Cites M&T for Anti-Money Laundering Problems

WASHINGTON (WSJ) —The Federal Reserve said Tuesday it found wide-ranging problems with M&T Bank Corp.’s MTB efforts to combat money laundering, a compliance issue that has held up the bank’s merger with Hudson City Bancorp Inc. HCBK The Fed said as part of a written agreement with the bank that it had found “deficiencies in…
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Measure targeting money laundering would let Ohio gather images of casino patrons for database

(AP) A provision in the Ohio Senate’s budget proposal would let the state collect and save camera images of each casino customer who redeems earnings for cash. Republican lawmaker Sen. Bill Coley sponsored the amendment. He tells The Cincinnati Enquirer it’s intended to help law enforcement crack down on money laundering and people who use…
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Anti-Money Laundering Tools Lag

(WSJ) U.S. authorities have been cracking down on the use of online payment systems by money launderers. But researchers say businesses do not yet have effective technology to prevent drug dealers or scam artists from using payment transfers to legitimize ill-gotten cash. The Federal Reserve is looking into risks associated with online payment systems like…
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