Financial Services

Illustration concept of emotional intelligence

How to Account for Emotional Intelligence in Third-Party Risk Management

Third-party risk management (TPRM) has grown in prominence as organizations increase their reliance on external parties, from cloud providers to credit card processors. As more enterprises invest in this critical business function, certain best practices are becoming key to a successful TPRM program. The authors of this article, a consultant and third-party risk manager for the international retailer AutoZone and...

An unknown puppet master controls the line of a performance graph.

UBOs Often Remain Elusive Despite Repeated Regulatory Efforts

After repeated investigations that have laid bare the struggle governments have in identifying the ultimate beneficial owners implicated in money laundering and other fraud, it's clear there isn't a one-size-fits-all solution. While governments continue adopting new rules meant to address this problem, much work remains. Identifying ultimate beneficial owners (UBOs) remains a central challenge for a number of counter financial...

vector of plants growing out of a dollar

How Banks Are Using ESG Data to Price Green Financing

As weather events and ESG investments accelerate, risk teams have grown accustomed to accounting for climate-related exposure. Financial institutions and other businesses are beginning to incorporate that information into other aspects of operations, like fund transfer pricing, credit assessment and more. In the contemporary era of climate change, the financial services industry is seeing several transformations across its product and...

In the Fight Against Fincrime, Update Your Platforms, Upgrade Your Processes and Don’t Forget to Upskill Your People

In the Fight Against Fincrime, Update Your Platforms, Upgrade Your Processes and Don’t Forget to Upskill Your People

During the past two decades, we have witnessed how financial crime compliance (FCC) has evolved from a basic customer identification program as laid down in Bank Secrecy Act 1970 to the current spectrum of regulations. And while technology can help address processes and platforms, one area may be overlooked in many institutions — people. The regulations FIs must confront are...

US Department of Treasury building in DC

With Updated AML/CFT Priorities, Businesses Across Verticals Face Unprecedented Exposure to FinCEN and OFAC Scrutiny

Updated enforcement priorities and guidance on facilitating ransomware payments remind companies of all types to establish holistic AML policies and programs — and revisit them as events warrant, write Saul Ewing Arnstein & Lehr partner Joe Valenti and associate Christie McGuinness. The Financial Crimes Enforcement Network (FinCEN) this summer announced America’s first government-wide priorities list for anti-money laundering and countering...

Study: True Cost of Financial Crime Compliance

The True Cost of Financial Crime Compliance

Explore industry-driven insights into the cost and operational impacts of today’s financial crime compliance climate, including: How compliance costs are distributed between labor and technology Where recent sanctions and regulatory expectations impact financial crime compliance strategies and staffing Why operating pressures tied to the pandemic are slowing account openings and revenue realization Which emerging threat vectors and industry sectors represent...

A billboard annoucning new rules for businesses post brexit in london.

Despite Efforts at Collaboration, U.K.-E.U. Regulatory Inconsistencies Have Begun to Crop Up for Banks

While some indications have emerged of the U.K. and E.U. collaborating closely on cross-border financial regulations, post-Brexit inconsistencies have already cropped up. Banks hoping to avoid regulatory mismatches will inevitably need to rethink their compliance strategy. At the beginning of 2021, the U.K. completed its journey out of the E.U. orbit after the transitionary period ended on 31 December 2020....

Page 2 of 13 1 2 3 13