
FinCEN issues alert for check fraud via USPS
Working with the U.S. Postal Inspection Service, FinCEN identified red flags to help banks detect, prevent and report suspicious activity connected to mail theft-related check fraud.
Working with the U.S. Postal Inspection Service, FinCEN identified red flags to help banks detect, prevent and report suspicious activity connected to mail theft-related check fraud.
The Financial Crimes Enforcement Network this week issued an alert to financial institutions on potential attempts by Russian elites to evade sanctions through the U.S. commercial real estate sector.
Protections for mobile apps must have the capability to recognize and block the tools that criminals use and abuse to commit fraud.
With uncertainty the rule, the best advice is to have banks’ change-management processes ready for whatever comes.
In a report today, the Financial Crimes Enforcement Network said it was able to identify tens of billions of dollars in suspicious activity by Russian oligarchs thanks in large part to filings from U.S. depository institutions.
Financial institutions should not wait for a central registry to come online. Banks benefit by becoming proactive right now.
Keeping up with changing regulations was the top concern for U.S. financial services firms, according to Wolters Kluwer’s annual Regulatory and Risk Management Indicator survey.
The value of ransomware-related BSA filings in 2021 approached $1.2 billion—a 188% increase compared to the previous year.
The Government Accountability Office found significant room for improvement regarding the Department of Justice’s obligation under the Anti-Money Laundering Act of 2020 to provide the Financial Crimes Enforcement Network with information on their use of Bank Secrecy Act reports.
Successful information sharing will reduce the time it takes to interdict, stop and report criminal activity, boost customer trust and protect a brand’s reputation.