Stopping fraud is an enterprise-wide project that requires an enterprise-wide leader empowered to connect silos.
Browsing: Anti-money laundering
FinCEN Director Jennifer Shasky Calvery, speaking at the ABA/ABA Money Laundering Enforcement Conference today, stressed the need for financial institutions to “continue engaging with our regulatory, law enforcement and [other industry] partners as we determine where there is the most significant risk, if additional AML requirements are needed, and how best to get at any identified vulnerabilities with the least amount of burden.”
Speaking at the ABA/ABA Money Laundering Enforcement Conference today, Acting Treasury Undersecretary Adam Szubin stressed the importance of healthy correspondent banking relationships, cautioning banks against “derisking,” or avoiding regulatory risk by terminating, restricting or denying services to a broad class of clients.
The Basel, Switzerland-based Financial Stability Board published a report today on the decline in international correspondent banking activity and actions international bodies are taking to stem it.
As large financial institutions shed riskier clients, are community bankers prepared for those potential customers to come knocking?
ABA on October 30 filed comments to the Financial Crimes Enforcement Network on its proposed rule to define investment advisers as financial institutions subject to the Bank Secrecy Act.
A HELOC for an executive officer and other sticky compliance situations.
The November/December issue of ABA Bank Compliance magazine, now available online for subscribers, features a cover story on getting right the “Know Your Customer” requirements of anti-money laundering compliance.
The Financial Crimes Enforcement Network (FinCEN) is withdrawing its proposed rulemaking to impose special measures against Lebanese Canadian Bank SAL (LCB).