Memorial Day

Will Your Customers Invest in Your Strategy?

Posted by - May 25, 2018
Memorial Day weekend 1977 opened with an intergalactic bang as George Lucas’ blockbuster Star Wars hit movie theaters across America. The incredible success of the first movie, which received seven Oscars and earned nearly $800 million worldwide, began with brilliant marketing of a groundbreaking thought: Let’s create a revolutionary movie-watching…
digital security

How Safe Is Your Business?

Posted by - January 3, 2018
How much do you worry about being hacked? How much should you worry? In 2017, cyber-attacks doubled from 2016 levels—and the insider phrase now is “It’s not if, but when, you’ll be attacked.” In fact, organizations are silently and invisibly breached every day, with the private and confidential information of consumers,…
Ensuring compliance with NY’s latest anti-money laundering regulation

New York DFS Issues Tough Anti-Money Laundering Regulation

Posted by - October 4, 2016
The state of New York has recently passed a new rule pertaining to transaction monitoring and screening requirements within regulated institutions. Does your anti-money laundering program comply with the new requirements? And will your organization have implemented an annual board resolution or senior officer compliance finding on time?
How financial regulators can respond to blockchain

The Regulatory Imperative for Blockchain

Posted by - September 15, 2016
The advent of blockchain technology, most commonly associated with Bitcoin stands to significantly impact the financial services industry. Four ecosystems of blockchain are emerging, but there’s a lack of consensus in the industry as to which model is best, and a fragmented approach will never survive. So what are regulators…
Try a cloud compliance solution to combat fluctuating compliance costs

The Rise and Fall in Compliance Costs

Posted by - September 14, 2016
Financial services leaders express concern about rising compliance and fraud detection costs. Short of spending more on automation or slashing capital and operating expenses, what can they do to stay ahead of nefarious activities without breaking the bank? Cloud compliance solutions may hold the key.
Blockchain should improve data security, but there are risks to bear in mind

Waiting for the Fog to Clear: Blockchain Technology and Regulatory Compliance

Posted by - July 20, 2016
Blockchain technology is poised to revolutionize the financial services industry. Compliance professionals and regulatory authorities are closely monitoring the operational vulnerabilities and risks associated with the use and implementation of blockchain technology. Enforcement of existing regulatory schemes is sure to go up, and new regulations are just around the corner.
Risks and compliance challenges with BYOP

The Siren Song of Social Media

Posted by - June 10, 2016
At the heart of the compliance focus with social media channels is the balance between personal and business orientation for each of the various channels – namely LinkedIn, Twitter, and Facebook. The potential co-mingling of personal and business content as a result of using the same social media channel and…
Financial institutions are new customer due diligence requirements

FinCEN Issues New Beneficial Ownership Regulations

Posted by - June 1, 2016
In response to the Panama Papers leak, the Financial Crimes and Enforcement Network has adopted new regulations around beneficial ownership. And frankly, the changes are long overdue. The U.S. has lagged behind many other world powers for some time when it comes to requiring transparency in financial ownership.
A risk-based approach is necessary to maintain compliance in the wake of the Panama Leak

The Panama Papers & Who Owns What

Posted by - April 20, 2016
Are the problems revealed by the Panama Papers anything new? Absolutely not. Unreported offshore accounts are hardly a novel phenomenon. If it’s an original approach you’re looking for, here you have it: from now on, banks and financial service firms will be required to exercise prudent skepticism when performing due…

What a Holistic Customer View Does for Compliance

Posted by - January 28, 2016
Global organizations have historically struggled with capturing a holistic view of their customers – one that spans international jurisdictions, lines of business, and product offerings while still allowing the corporation to maintain compliance. How does an organization standardize the definition and identification of customers when so many factors are at…

The Rise of the Non-Bank Lender

Posted by - December 8, 2015
With commercial banks taking a more conservative approach to lending since the financial crisis, the lending market has opened up to nontraditional lenders, and more and more businesses are using these non-bank lenders as alternative sources for credit funding. The good news is businesses have more loan options. The bad…