News

Inaccurate yet widely circulated media reports are threatening the ability of financial institutions to screen their existing and potential customers for anti-money laundering purposes, say sources. So-called "fake news" has proliferated in recent years thanks to websites in the United States and abroad that frequently publish or reprint highly partisan articles or even non-factual information made to look legitimate, and then use social media platforms like Twitter and Facebook to disseminate the stories internationally. As a result, compliance staff must exercise more caution when running the names of clients through search engines, social media forums or news websites to check...