Advanced search

WASHINGTON—Financial institutions flagged nearly $5 billion in suspicious activity potentially linked to the smuggling of people across borders from 2023 through 2025, according to a new Financial Crimes Enforcement Network analysis.

WASHINGTON—The Blockchain Association is urging the U.S. Supreme Court to hear Custodia Bank’s challenge to the Federal Reserve’s denial of a master account, arguing federal law does not give the Fed broad discretion to deny payment system access to otherwise eligible state-chartered banks, Blockhead reported.

BOSTON— Two Massachusetts brothers have pleaded guilty to staging the 2024 robbery of Energy Credit Union, where one of them worked as a teller, stealing nearly $200,000 before investigators recovered most of the cash and uncovered the scheme through cellphone records and surveillance video.

ATLANTA—A federal judge in Georgia has rejected an Atlanta investment company's emergency bid to force Bank of America and Merrill Lynch to explain what happened to an alleged $7.5-billion wire transfer or preserve the disputed funds while litigation proceeds. According to Law360, the court found International Power Incorporated had failed to establish that it faced the irreparable harm required for emergency injunctive relief.

SAN FRANCISCO--Visa is acquiring Israel-based fraud intelligence company BioCatch for $2.4 billion in cash, a deal aimed at strengthening Visa’s ability to help financial institutions combat account takeovers, scams and other increasingly sophisticated forms of digital fraud, according to PYMNTS.

PORTLAND, Ore.—Oregon is urging a federal court to reject financial industry groups’ bid to block a new state law that subjects certain consumer loans made by out-of-state, state-chartered banks to Oregon’s 36% interest-rate limit, arguing the lenders are reading restrictions into federal law that Congress did not impose, according to Law360.