Beware suspicious money entering the U.S. via politically exposed persons (PEPs). And be mindful of non-banking entities that are involved in illegal activities outside of current anti-money laundering (AML) regulations.
This is the advice from AML expert Kevin Sullivan, who offers insights on the newest...
A former bank employee and her husband were arrested in Connecticut on Tuesday and charged with bank fraud and money laundering in a $6.2 million fraud case.
If you thought 2009 was a tough year in terms of regulatory scrutiny, wait until 2010.
With regulatory reform and consumer protection high on the agenda, financial institutions should face new pressures on several fronts, say industry observers.
Here are the top regulatory issues for banking institutions to...
A computer technician has been indicted in New York Supreme Court, charged with stealing the identities of more than 150 Bank of New York Mellon employees and using them to steal more than $1.1 million from charities, non-profit groups and other entities.
Adeniyi Adeyemi, a 27-year-old man from Brooklyn, was...
Over the past two years, the Financial Crimes Enforcement Network (FinCEN) has been talking with large institutions about how they're performing anti-money laundering programs and complying with the Bank Secrecy Act (BSA).
On Tuesday, FinCEN Director James Freis released the findings in a report, "Financial...
Money-laundering is one of the most common and complex financial crimes to be committed. Learn exactly what you need to know about the specific statutes and regulations that govern the crime.
Register for this webinar to receive first-hand advice from a veteran anti-money laundering investigator on:
Key...
Money-laundering is one of the most common and complex financial crimes to be committed. Learn exactly what you need to know about the specific statutes and regulations that govern the crime.
Register for this webinar to receive first-hand advice from a veteran anti-money laundering investigator on:
Key...
A little over one year after the scandalous resignation of ex-NY Governor Eliot Spitzer, money laundering again is at the heart of a major news story.
Federal authorities from the FBI and IRS arrested 44 people in New Jersey and New York on Thursday -- including three mayors and four rabbis -- in a case involving...
Driving to my office yesterday, I listened to the radio as an announcer read the news of an FBI sweep that saw politicians and religious leaders arrested. The first group I wasn't exactly surprised about, but religious leaders? Well, I was listening even more closely when the radio announcer then said there were four...
Individually, banking institutions, law enforcement agencies and regulatory boards understand the risks of money-laundering crimes.
But collectively, in active collaboration, they could do much more to prevent, detect and investigate these crimes, says AML expert Kevin Sullivan.
In an exclusive interview in...
Individually, banking institutions, law enforcement agencies and regulatory boards understand the risks of money-laundering crimes.
But collectively, in active collaboration, they could do much more to prevent, detect and investigate these crimes, says AML expert Kevin Sullivan.
In an exclusive interview in...
The U.S. Treasury's Office of Foreign Assets Control (OFAC) maintains a list of individuals and organizations that represent security risks to the U.S., and businesses are required to screen their customers and transactions against this list.
But how does one filter correctly and interpret aliases properly to stay...
The U.S. Treasury's Office of Foreign Assets Control (OFAC) maintains a list of individuals and organizations that represent security risks to the U.S., and businesses are required to screen their customers and transactions against this list.
But how does one filter correctly and interpret aliases properly to stay...
We've already discussed some of the biggest news and breaches of 2008. But what about some of the people who made the news?
Following is a look back at some of 2008's major newsmakers - and where they are today.
Red flags, vendor management, business continuity and disaster recovery. If banking/security leaders thought that 2008 was a challenging year for keeping up with regulatory mandates, the old rock and roll song's lyrics say it best: "You ain't seen nothing yet."
Based on expert insight, the following 10 regulatory...
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