Among the ways banks can respond to today’s quickly changing criminal activity is by incorporating flexible fraud-detection controls that allow them to create or adjust rules on the fly.
Browsing: Financial crimes
The Financial Crimes Enforcement Network is seeking comment on a potential rule on real estate reporting requirements.
Although there is still much to come with the implementation of the revised statute, institutions should consider the act’s implications during this time between the enactment of the statute and the promulgation of the program rules.
Moving from a ‘check the box’ mentality to a system that better protects consumers and banks.
The Financial Crimes Enforcement Network today issued government-wide priorities for anti-money laundering and countering the financing of terrorism policy.
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.
Fighting credential stuffing requires planning and coordination across security, fraud, technology and customer experience teams.
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.
Ransomware attacks are becoming more numerous, sophisticated and costly, especially during the COVID-19 pandemic.