Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
NEW YORK (Thomson Reuters Regulatory Intelligence) - The U.S. Treasury Department last week moved to sever a Chinese bank from the global financial system over concerns it was a conduit for illicit North Korean financial activity. The move signaled the United States is no longer willing to tolerate the actions of Chinese entities that support Pyongyang and plans to mete out punishment in the form of financial sanctions to alter behavior, experts said.
A former executive of MoneyGram International Inc agreed to pay $250,000 and to be barred from a similar job for three years in settling a case that has been closely watched by the Wall Street compliance community as a test of a U.S. government push to punish individuals for institutional failures.
EL CHAPO Act seeks to use kingpin's money to build border wall, would divert funds from law enforcement
NEW YORK (Thomson Reuters Regulatory Intelligence) - It began as a joke shared among law enforcement officials gathered in a Long Island airport hangar in January awaiting the extradition flight of Mexican drug kingpin Joaquin "El Chapo" Guzman: "Why is Mexico finally extraditing El Chapo now on the eve of then President-elect Donald Trump's swearing-in ceremony? To pay for Trump's wall!"
WASHINGTON/ST LOUIS U.S. banks should not cut ties with foreign clients over money- laundering worries unless officials have concrete cause for concern, a leading U.S. regulator is telling staff and lenders.
MIAMI (Thomson Reuters Regulatory Intelligence) - The administration of U.S. President Donald Trump is unlikely to ease U.S. anti-money laundering regulations, former New York Mayor Rudy Giuliani said Wednesday in an interview with Thomson Reuters Regulatory Intelligence.
Requiring U.S. title insurance companies in six urban areas to report the identities of beneficial owners behind shell companies used to pay for posh real estate in "all cash" deals has generated valuable intelligence for law enforcement authorities, the Treasury Department's anti-money laundering unit said Thursday as it renewed the so-called Geographic Targeting Orders requiring the reporting.
NEW YORK (Thomson Reuters Regulatory Intelligence) - A trade association representing the largest U.S. banks on Thursday called for major changes to way money-laundering is fought by the industry and regulators, in a scathing report that among other things claims regulatory oversight is "counterproductive."
WASHINGTON/NEW YORK America's largest banks are to propose a complete overhaul of how financial institutions investigate and report potential criminal activity, arguing that rules imposed in the years after the Sept. 11, 2001 attacks and strengthened during the Obama administration are onerous and ineffective, sources said.
NEW YORK (Thomson Reuters Regulatory Intelligence) - A deal for the payment affiliate of Chinese e-commerce giant Alibaba Group Holding Ltd to buy U.S. money-transfer company MoneyGram International Inc has the potential not only to rattle the international funds transfer landscape, but also to pressure China to bolster a lackluster anti-money laundering regime, anti-money laundering professionals said.
WASHINGTON The United States received failing scores for its efforts to prevent the laundering of criminal proceeds by shell companies, accountants and real estate agents, the Financial Action Task Force (FATF) said in a report released Thursday.
- Gold: PRECIOUS-Gold falls from three-week high, palladium off 2001 top
- Oil Report: UPDATE 3-U.S., Japan fail to bridge gap on trade in economic talks
- British Pound Report: Sterling steadies as Brexit worries offset BoE expectations
- US Dollar Report: FOREX-Dollar supported as U.S. yields rise on Fed leadership speculation