5 Ways For Banks To Ward Off Money Laundering Woes

Law360, New York (May 31, 2013, 6:19 PM EDT) -- Banks are facing increased pressure from U.S. regulators worried about criminals' cash flowing through the financial system. To keep their supervisors happy, banks need to ensure their systems and staff are up to the task of flagging suspicious transactions and risky customers.

While enormous penalties like the $1.9 billion fine HSBC PLC was ordered to pay in December for allegedly laundering nearly  $1 billion worth of Mexican drug cartel cash and other illicit funds have grabbed the most attention, U.S. regulators have quietly been forcing several...
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