Joint Agency Statement Emphasizes Risk-Based Approach to BSA/AML Exams
As part of an ongoing effort to enhance the efficiency and effectiveness of the Bank Secrecy Act/anti-money laundering regime, the ...
Tag: Anti-money laundering
ABA, CUNA Call on Lawmakers to Solve Cannabis Conundrum
In a joint op-ed in Fox Business today, ABA President and CEO Rob Nichols and Credit Union National Association President ...
FinCEN Warns Banks of Business Email Compromise Scams
Business email compromise schemes—though which fraudsters target businesses and their fund transfers—generated more than $300 million a month in illicit ...
ABA Seeks Greater Clarity on Banks’ Ability to Serve Industrial Hemp Businesses
In a letter to the heads of the financial regulatory agencies on Friday, the American Bankers Association called for greater ...
ABA, Industry Groups Support Beneficial Ownership Bill
Ahead of the House Financial Services Committee markup today, the American Bankers Association joined eight other financial trade organizations in ...
Senators Introduce Draft of Bipartisan AML Reform Bill
A bipartisan group of senators today released draft legislation aimed at reforming several existing anti-money laundering rules.
FinCEN Announces New Innovation Program
The Financial Crimes Enforcement Network announced today a new program to facilitate innovative approaches to combating money laundering and terrorist ...
Why ‘Explainable AI’ Is the Next Frontier in Financial Crime Fighting
Banks that decide to implement AI or machine learning capabilities must consider not just how to approach the system upgrade ...
ABA Calls for Federal Beneficial Ownership Registry
Ahead of a Senate Banking Committee hearing tomorrow on beneficial ownership, the American Bankers Association wrote to committee members calling ...
FinCEN Recognizes Law Enforcement Successes Resulting from BSA Reporting
At its annual Law Enforcement Awards ceremony today, the Financial Crimes Enforcement Network recognized several state and federal law enforcement ...
