FinCEN report: Ransomware filings more than double from 2020 to 2021
The value of ransomware-related BSA filings in 2021 approached $1.2 billion—a 188% increase compared to the previous year.
Tag: Anti-money laundering
International task force updates lists of countries with AML deficiencies
The Financial Action Task Force has updated its lists of jurisdictions with strategic AML/CFT/CPF deficiencies, the Financial Crimes Enforcement Network ...
Podcast: Trends and tips for preventing grandparent scams
Grandparent scams are a particularly pernicious fraud, one that preys on seniors' love, care and concern for their family members. ...
FinCEN’s Das outlines next steps for CTA rules and processes
FinCEN is developing guidance and educational materials and other tools to help companies prepare to file their beneficial ownership information ...
FinCEN issues beneficial ownership rule, the first of three CTA mandates
The rule will require most corporations created in or registered to do business in the U.S. to report beneficial ownership ...
Treasury seeking feedback on AML/CFT implications of digital assets
The Treasury Department is seeking public input regarding illicit finance and national security risks posed by digital assets.
Government watchdog: DOJ falling short of obligations to share BSA info
The Government Accountability Office found significant room for improvement regarding the Department of Justice’s obligation under the Anti-Money Laundering Act ...
AML and UDAAP: Secrecy vs. transparency
Following a documented process should increase bank confidence when aiming to balance AML and consumer fairness risk.
How the new SAR pilot may aid in the financial crime fight internationally
Successful information sharing will reduce the time it takes to interdict, stop and report criminal activity, boost customer trust and ...
Accuracy, consistency, efficiency: How AI strengthens AML compliance
AI can strengthen policy adherence, improved accuracy and consistency of results and reduce regulatory risk.
