Increased vigilance and follow-up enforcement efforts by global governmental bodies and regulatory agencies – coupled with the efforts of financial institutions on the frontlines of the war on illicit finance – remain arguably the most vital pieces of the puzzle to stop the growth of transnational financial crime. Last week was a busy one in […]
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In the high-stakes world of regulatory compliance, operational efficiency is everything. Within this space, maintaining thorough oversight and the appropriate checks-and-balances – specifically when dealing in high-value domestic and international transactions – is often the difference in avoiding costly fines and sanctions, reputational damage, and in some cases, even complete shutdowns for financial service providers […]
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As part of the ongoing global crusade against illicit financial activity, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is constantly canvassing the global financial landscape to identify emerging threats and patterns within financial data submitted by covered financial institutions under the Bank Secrecy Act (BSA) for purposes of maintaining national security. […]
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