AML Compliance Costs – How Much is Enough?
A major growth area in U.S. Finance is in regulatory compliance, and this is due in large part to the rapid rise of money laundering activities over the past several…
Who are they?
Blockchain: Reshaping the Future of Banking and Payments Processing
Blockchain Technology Blockchain technology is making headlines this week as UBS, Bank of America, and HSBC have all jumped on the bandwagon. This activity continues a recent trend suggesting that…
Getting to know Global RADAR
Interview between Banking CIO Outlook and Dominic Suszek, President and CEO of Global RADAR®. Q. What sense do you get of the challenges financial institutions face now and how is…
Understanding the Two Sides of Bitcoin
Bitcoin was one of the hottest topics in finance last week due to the court ruling in Florida on its legitimacy as a currency, as well as the massive Bitcoin…
Trending Topics in AML
As a leading source of news on compliance issues, BSA News Now is published on a daily basis and distributed to over 10,000 readers from fifty four countries. Our editors…
The Orlando Shooting and the Impact on AML
The horrific events that happened last week in Orlando, Florida, could also provide us with certain lessons that can be applied to the AML compliance efforts: The mass shooting at…
How Independent is your BSA Auditor?
Federal regulatory agencies require that the domestic financial institutions they supervise develop written BSA compliance programs that are approved by their respective board of directors and noted in the minutes.…
Final Rule for Customer Due Diligence Requirements for Financial Institutions
On May 6, 2016, the U.S. Treasury Department's Financial Crimes Enforcement Network ("FinCEN") published a final rule under the Bank Secrecy Act ("BSA") to codify new customer due diligence ("CDD")…
Tax Evasion
“Make sure you pay your taxes; otherwise you can get in a lot of trouble.” – Richard M. Nixon Let’s face it: no one likes to pay taxes. Some people…
Compliance Officers Professional Liability
[mk_blockquote style="quote-style" font_family="none" text_size="12" align="left"]“If you can’t stand the heat, get out of the kitchen.” Harry S. Truman[/mk_blockquote] Recent regulatory developments have compliance officers nationwide very concerned about their jobs…