PYMNTS

AUGUST 14, 2019

Cooperation in an environment that is rapidly advancing on many technological fronts was the theme when FinCEN Director Kenneth A. In the era of advanced AI, it also has the power to be tool across all of law enforcement; applicable to uses ranging from fighting the opioid epidemic or taking on terrorism. “In

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

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

Fintech News

JULY 17, 2024

These figures underscore the immense challenge facing regulators and law enforcement agencies in their efforts to curb illicit financial flows in the crypto space. The United Arab Emirates has amended Federal Decree-Law No. (20)

Money Laundering 106

Money Laundering Law Enforcement AML Non-Bank 106

FICO

DECEMBER 12, 2018

is to the existing Bank Secrecy Act (BSA)/anti-money laundering (AML) regime. Among the key provisions is addressing the increasing burden on financial institutions required to file Suspicious Activity Reports (SARs) and the enormous amount of data flowing to Treasury’s Financial Crime Enforcement Network (FinCEN). In the U.S.,

SARS 40

SARS AML Law Enforcement Suspicious Activity Report (SAR) 40

Stax

DECEMBER 4, 2023

TL;DR An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. The Bank Secrecy Act (BSA) establishes AML program requirements for financial institutions in the US while the USA Patriot Act lays down which entities are required to comply.

Money Laundering 88

Money Laundering Compliance AML BSA 88

FICO

DECEMBER 23, 2020

This focus on increased regulation will be particularly prevalent in North America, as FICO’s Claudia Huesmann points out, “FinCEN is aiming to close the gaps in AML regulations for banks not regulated by a federal functional regulator. Earlier this year in the U.S.,

Financial Crimes 52

Financial Crimes Crime Ransomware AI 52

PYMNTS

DECEMBER 4, 2018

The agencies tied to the joint release include the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, the National Credit Union Administration and the Office of the Comptroller of the Currency. financial system.”.

Financial Crimes 64

Financial Crimes Crime BSA Innovation 64