Agricultural Bank of China Ltd. has been ordered by the Federal Reserve to overhaul its protections against money laundering to address “significant deficiencies,” the U.S. regulator said in a statement Thursday. The lender, one of China’s biggest banks, will have to come up with a written plan within 60 days to fix the shortcomings in managing risk in its […]

A high-level delegation from Bangladesh will arrive next month seeking to recover the $81 million laundered in the Philippines.  Close to $1 billion from the Bangladesh bank account at the Federal Reserve Bank of New York was targeted by hackers, but the US bank managed to stop 30 of the 35 transactions. Five of the […]