The Bank Secrecy Act, a 1970 law, requires U.S. financial institutions to report suspicious activity and guard against money laundering. Latest fines for AML failures underscore regulatory crackdown.
Crypto billionaires Ben Delo and Christopher Harborne have poured tens of millions into Reform UK, promising a “fair fight” and backing ahead of the next general election. The gifts come amid ongoing police and parliamentary investigations into party funding and donor disclosure.
Donors Ben Delo and Christopher Harborne have pledged record sums to Reform UK, aiming to level the playing field ahead of the next general election. The support follows investigations into Reform’s finances and questions about foreign donations, with the party insisting donations are for a party ready for government.
Regulators have imposed more than $1.2 billion in penalties on Bank of America for failing to report suspicious transactions and maintain an anti-money-laundering program, with an $1.2B penalty from Treasury and a $750M fine from OCC. The actions mark a major step in enforcing compliance across big banks.