Tokenized deposits: the future of tokenized money for financial market settlement
For settlement activities, tokenized deposits offer banks the benefits of programmability without the limitations of payment stablecoins.
Tag: Know your customer
Podcast: AI and the future of BSA risk management
Banks have been using natural language processing and machine learning applications for years in managing their anti-money laundering and Bank ...
Banking agencies allow banks to collect CIP data from third parties
The order permits banks to obtain TIN information from a third party rather than the customer as long as the ...
Podcast: What you need to know about beneficial ownership and customer due diligence in 2025
Saved by the bell? Millions of American businesses faced a January 1 deadline to register their beneficial owners with the ...
ABA urges changes to beneficial ownership registry reporting
In a letter yesterday, ABA urged the Financial Crimes Enforcement Network to make changes to the form that entities will ...
Demystifying beneficial ownership
Financial institutions should not wait for a central registry to come online. Banks benefit by becoming proactive right now.
Interagency statement reiterates due diligence expectations
The federal banking agencies and the Financial Crimes Enforcement Network today issued a statement reminding banks of the risk-based approach ...
FinCEN issues statement on due diligence for independent ATM owners, operators
The Financial Crimes Enforcement Network issued a statement reminding banks of how to apply a risk-based approach to conducting customer ...
FinCEN to issue proposal on beneficial ownership database this year
As the Financial Crimes Enforcement Network works to implement the Corporate Transparency Act—an ABA-advocated provision of the Anti-Money Laundering Act ...
Threats from Sanctioned Nations: Cyber Hygiene and a Plan Provide Best Defense for Banks
Banks should have a step-by-step plan on how to handle cyber-attacks, including securing whatever data possible and quickly notifying law ...
