What FinTechs Need to Know About AML - Part 2
Beginning in 1950 with the founding of the Office of Foreign Assets Control (“OFAC”) and continuing to the present with the recent...
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What FinTechs Need to Know About AML - Part 1
Beginning in 1950 with the founding of the Office of Foreign Assets Control (“OFAC”) and continuing to the present with the recent...
FATF Explores Opportunities & Challenges of New Technologies
The Financial Action Task Force (#FATF) continues to explore the challenges and opportunities presented by new technology. In the first...
FinCEN Issues List of AML/CFT Priorities
On June 30, the Financial Crimes Enforcement Network (FinCEN), in consultation with many other federal and state regulators, issued the...
Digital Assets Working Group - US House of Representatives
The Biden Administration continues its quest to be more involved in digital transformation taking place around the country. Chairman...
The Fight Against Corruption
The Biden Administration issued a National Security Study Memorandum on June 3 instructing federal agencies to increase the fight against...
Regulatory risk and the changing compliance landscape. Is showing you're trying good enough?
What’s important for FinTechs to know about AML compliance? I recently joined Greg Palmer in the latest episode of Finnovate Podcast. We...
ABA Response to FinCEN Request for Comment on AMLA 2020
The American Bankers Association (“ABA”) recently submitted a response letter to the Financial Crimes Enforcement Network’s (“FinCEN”)...
Podcast on AML Under the Biden Administration
Jeff Horvath, CEO and Co-Founder of DigiPli, was interviewed by Sabrina Serafin of Frazier & Deeter as part of their 'Culture of...
SEC Issues AML Risk Alert
The SEC’s Division of Examinations is continuing to stress the importance of AML and BSA compliance. If you haven’t seen it, the Division...
Beneficial Owner Reporting Requirements
The first tangible sign of FinCEN moving forward with implementation of the Anti-Money Laundering Act (AMLA) of 2020 comes just as...
A Note From Our New Chief Revenue Officer
As a longtime banker in the highly regulated financial services sector working with client onboardings, I experienced firsthand the...
Challenges of Banking Marijuana Regulated Businesses
A Michigan credit union consented to a cease-and-desist order issued by the National Credit Union Administration Board (NCUA) for AML...
NatWest Charged with Criminal AML Violations
The UK's FCA brought criminal proceedings against NatWest for AML violations, which is the first criminal prosecution against a bank for...
Firm Fined 500K for AML Failures
A US broker-dealer was fined $450K for AML violations by FINRA because it failed to detect suspicious low-priced securities trading and...
Updates to FATF Grey List
During the FATF plenary sessions in late February, the organization added the following countries to their "grey list" (i.e., those...
What AMLA 2020 Means to FinTechs
The Anti-Money Laundering Act of 2020, which went into effect in January 2021, is the most sweeping change to the AML regulations since...
FINRA 2021 Examination and Risk Monitoring Report
The 2021 Report on FINRA’s Examination and Risk Monitoring Program highlights AML as one of the organization’s areas of focus. FINRA...
New Guidance on SAR Filing Requirements
On January 19, FinCEN jointly with other banking regulators issued a FAQ document relating to the filing of Suspicious Activity Reports...
Capital One Fined $390 Million
The Financial Crimes Enforcement Network (FinCEN) announced on January 15 that Capital One, National Association (Capital One) was fined...