Stax

DECEMBER 4, 2023

With the global economy moving online, corruption, fraud, trafficking, and other illicit activities continue to rise. According to a UN report, money laundering activities of about $1.6 With AML legislation, financial institutions are required to follow strict protocols for money laundering risk management.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

PYMNTS

SEPTEMBER 21, 2020

Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) show that several of the largest global banks moved money on behalf of scores of individuals and enterprises involved in criminal financial activity. In one example, reported on Monday (Sept. In one example, reported on Monday (Sept.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

FICO

JUNE 9, 2022

FICO’s New AML Scores Use AI and Machine Learning to Detect More Money Laundering. New AML scores reduce false positive alerts by 50% while detecting 100% of known money laundering transactions, and discover new aberrant, potentially risky behaviors. AML Threat Score: Reducing False Positives Amid Defensive SAR Filings.

Money Laundering 52

Money Laundering AML SARS AI 52

PYMNTS

MARCH 4, 2020

“FinCEN encourages technological innovations to help fight money laundering, but technology must be used properly.” . Bank $185 million for numerous offenses, including “willfully violating” BSA mandates for having an anti-money laundering (AML) procedure. Department of Justice (DOJ) to penalize U.S.

AML 52

AML Suspicious Activity Report (SAR) Fincen BSA 52

PYMNTS

AUGUST 14, 2019

Blanco took to the stage at the 12th Annual Las Vegas Anti-Money Laundering Conference yesterday (August 13). More broadly, however, Blanco’s theme was the interconnectedness of the financial system – and how diligence and transparency is the key to combating money laundering and other financial crimes in the U.S.

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

FICO

JUNE 22, 2017

Serving as Madoff’s primary bank for over two decades, JP Morgan was one of the culprits of Madoff’s fraudulent actions and money-laundering tactics. In their innocent incompetence to identify clear red flags about Madoff’s returns and file a Suspicious Activity Report (SAR), JP Morgan’s was fined $1.7

AML 55

AML Facilitators AI Money Laundering 55

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).

SARS 40

SARS AML Law Enforcement Suspicious Activity Report (SAR) 40