PYMNTS

FEBRUARY 15, 2019

To that end, phishing attacks, more commonly known as business email compromises (BECs), have been aimed at Bank Secrecy Act (BSA) officials at credit unions. Krebs on Security noted that the emails sent to officials at the United States credit unions looked like they were being sent by other BSA officials.

BSA 49

BSA Credit Union Business Email Compromise Office of the Comptroller of the Currency 49

PYMNTS

AUGUST 14, 2019

Cooperation in an environment that is rapidly advancing on many technological fronts was the theme when FinCEN Director Kenneth A. It concerns me when I hear about some compliance budgets being cut by casinos looking to trim costs and retain gamblers,” he noted. The responsibility of casinos managing all of those new transactions.

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

The Fintech Times

APRIL 8, 2024

While BaaS solutions offer a lot of potential, many have concerns regarding the regulatory compliance of providers and the third parties that use them. Paul Staples, group head of embedded banking at ClearBank “There has been a lot of regulatory attention on BaaS providers, partly due to compliance concerns, but also their rapid growth.

FinTech 116

FinTech Regulatory Compliance BSA Money Laundering 116

PYMNTS

MARCH 4, 2020

The Financial Crimes Enforcement Network (FinCEN) has fined Michael LaFontaine, former chief operational risk officer at U.S. Bank , with a $450,000 civil penalty for his negligence in failing to intercept breaches of the Bank Secrecy Act (BSA), FinCEN announced on Wednesday (March 4). . The OCC also warned U.S.

AML 52

AML Suspicious Activity Report (SAR) Fincen BSA 52

FICO

JANUARY 8, 2020

At long last, fraud and compliance infrastructures are starting to converge. In the US, the use of artificial intelligence and machine learning in compliance is set to expand dramatically, per directives from the Financial Crimes Enforcement Network (FinCEN). Fraud and Compliance Infrastructures Converge. Let’s dive in.

Compliance 52

Compliance Fincen Cybersecurity Money Laundering 52

PYMNTS

DECEMBER 3, 2019

It also clarifies the BSA guidelines when offering financial services to hemp-related businesses. After further evaluation of the USDA interim final rule, the Financial Crimes Enforcement Network (FinCEN) will issue additional guidance. Department of Agriculture’s (USDA) interim final rule on hemp production.

Suspicious Activity Report (SAR) 55

Suspicious Activity Report (SAR) BSA Rules Office of the Comptroller of the Currency 55

Fintech News

JULY 17, 2024

The enhanced anonymity features of privacy coins make them particularly attractive to illicit actors, posing significant challenges for law enforcement and compliance professionals. Monero transactions have risen steadily, with a notable spike in March 2024 due to a spam event called Black Marble. billion in 2024.

Money Laundering 106

Money Laundering Law Enforcement AML Non-Bank 106

PYMNTS

DECEMBER 17, 2018

The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. The FinCEN said UBSFS didn’t develop and use an appropriate anti-money laundering (AML) system to address the risks in accounts from both traditional brokerage and banking services. FinCEN said UBSFS kept up the lack of regulation for AML from 2004 to 2014.

Fincen 55

Fincen AML Money Laundering BSA 55

PYMNTS

OCTOBER 13, 2020

Blanco, director of the Financial Crimes Enforcement Network (FinCEN), said that banks need to be wary of risks associated with cryptocurrency, per remarks made to the ACAMS AML virtual conference. The DOJ report stands as only the latest of warnings over the risks tied to cryptos. As recently noted by PYMNTS , Kenneth A.

AML 82

AML Fincen Cryptocurrency BSA 82

FICO

DECEMBER 23, 2020

We predict that regulators will continue to emphasize financial crimes compliance by looking to close the gaps in existing frameworks and regulations. Regulators Will Zero in on Closing the Gaps. A number of proposed bills are also with law makers on Capitol Hill.”. Banks Will Do More with Less While Keeping Consumers Happy.

Financial Crimes 52

Financial Crimes Crime Ransomware AI 52

PYMNTS

DECEMBER 4, 2018

3) that urged banks to study and implement “where appropriate” methods that would bring innovate approaches to anti-money laundering efforts and Bank Secrecy Act compliance. “Likewise, pilot programs that expose gaps in a BSA/AML compliance program will not necessarily result in supervisory action with respect to that program.”.

Financial Crimes 64

Financial Crimes Crime BSA Innovation 64

FICO

DECEMBER 19, 2018

AML/BSA Reform Talks Will Intensify but Meaningful Changes Will Have to Wait. Bank Secrecy Act/anti-money laundering (BSA/AML) regulatory reforms are top of mind for regulators and legislators. Members of Congress have also been focused on BSA/AML reforms. Where is BSA/AML reform headed in 2019?

BSA 40

BSA Fincen Suspicious Activity Report (SAR) SARS 40