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Midweek Roundup: Western Union Considering Use of Digital Currencies, Comptroller to Chair FFIEC, and More
printWestern Union is eyeing the use of digital currencies, such as Bitcoin, The Wall Street Journal said Monday, citing two executives of the company. More The move, which comes less than a year after the FBI published a report expressing money laundering concerns involving Bitcoin, would roughly coincide with criticism that the money services business is in danger of being criminally indicted for failing to comply with an anti-money laundering-related settlement. More and More Mexican cartels are increasingly moving operatives into the U.S. to expand money laundering operations, guard cash stash houses and commit other crimes, the Associated Press said...
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Money launderers working on behalf of Mexican cartels have moved southward after a deferred prosecution agreement between Western Union and Arizona gave investigators unprecedented access to remittance data in Northern Mexico, according to Vince Piano.
For the second time this year, the nation's largest money transmitter has asked Arizona for additional time to upgrade its anti-money laundering program, according to sources familiar with the matter.
Arizona has granted the nation's largest money transmitter an additional three months to improve its anti-money laundering compliance program and avoid criminal prosecution.
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Midweek Roundup: Switzerland to Limit Cash Payments, Horse Meat Sales Linked to Laundering, and More
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