Tag: bsa/aml

Sharing BSA Resources with Another Institution? Third-Party Vendor Management Rules Apply

Regulators have given financial institutions a green light for sharing Bank Secrecy Act (BSA) resources in some situations, but proper…

OCC: Cybersecurity, Commercial/Retail Credit & BSA Will Be 2019’s Top Supervisory Priorities

Risk and cybersecurity remain top supervisory priorities at the Office of the Comptroller of the Currency (OCC) for a second…

Your Risk To-Do List: Following Up on New Customer Due Diligence Rules

Chances are you were ready when FinCEN’s new customer due diligence (CDD) rules requiring the establishment of beneficial ownership for…

Creating Reliable Risk Assessments: How to Measure BSA Risk

Part 3 of 4 Bank Secrecy Act, Anti-Money Laundering, and Office of Foreign Assets and Control (BSA/AML/OFAC) are critically important…

Everything is Bigger in Texas – Like BSA Fines

What’s worse than a Bank Secrecy Act violation? Try a series of consent orders and civil money penalties for “willfully…

How Did We Get Here?: A History of BSA

Have you ever seen one of those old homes that’s been built onto over the generations? As the family grew,…

The BSA/AML Compliance Pep Talk You Need

Do you ever wonder what happens to all those SAR reports you file? You spend so much time complying with…

Ncontracts Acquires Supernal Software to Bring Customers BSA and Compliance Solutions

When I founded Ncontracts in 2009, my goal was to provide a way to make risk management more efficient by…

FinCEN: MoneyGram Compliance Officer on the Hook for $250,000 Penalty

Thomas E. Haider is a cautionary tale for compliance officers across the country. In one of the largest individual penalties…

Western Unions Pays $184 Million for Ignoring Vendor Due Diligence

Western Union lets you wire money to 500,000 agent locations in 200 countries and territories worldwide, but the biggest wire…