This is the second of two articles addressing the Basel Committee on Banking Supervision's (BCBS) Sound Management of Risks Related to Money Laundering and Financing Terrorism guidance.1 The previous article addressed the essential elements of sound money laundering (ML) risk management. This article focuses...

Proposed rule would subject international money transmitters with at least one million aggregate annual transfers to the CFPB's supervision and examination of compliance with federal consumer financial laws On January 23, 2014, the Consumer Financial Protection Bureau (CFPB) proposed a new rule to define "larger...