Five BSA Hot Topics for 2021
Moving from a ‘check the box’ mentality to a system that better protects consumers and banks.
Browsing: Financial crimes
FinCEN Issues National Anti-Money Laundering Priorities
The Financial Crimes Enforcement Network today issued government-wide priorities for anti-money laundering and countering the financing of terrorism policy.
FinCEN Recognizes Law Enforcement Successes Resulting from BSA Reporting
At its annual Law Enforcement Awards ceremony, held virtually today, the Financial Crimes Enforcement Network recognized several state and federal law enforcement agencies for their work using information reported by financial institutions under the Bank Secrecy Act in its criminal investigations.
What Banks Need to Know About Credential Stuffing and How to Stop It
Fighting credential stuffing requires planning and coordination across security, fraud, technology and customer experience teams.
ABA Recommends Standards for FinCEN Beneficial Ownership Registry
As the Financial Crimes Enforcement Network prepares to create a new beneficial ownership registry, ABA made several recommendations that should guide the agency as it develops the database—including that FinCEN ensure usability and ease of access for reporting companies, law enforcement and financial institutions.
How to Contend With a 21st Century Ransom Note
Ransomware attacks are becoming more numerous, sophisticated and costly, especially during the COVID-19 pandemic.
The Financial Fraud Epidemic
As the COVID-19 pandemic turns one, bankers and cyber experts reflect on the rapid rise of scams and fraud schemes aimed at banks and their customers.
Accurately Assessing Financial Crime Risk at Midsize Banks in 2021
By streamlining their anti-money laundering operations, banks will not only maintain their defenses, but also their market share.
AML Innovation and Whistleblower Provisions of the NDAA Mean Important Changes Ahead
Modernization efforts will likely be accompanied by increased enforcement activity. A strong culture of compliance will be more critical than ever.
2021 Could Be Big Year for AML
Changes likely on the way in the new year for AML include better tech tools, overhauling old systems and building better data infrastructures.