The Intersection of EDD and Banking Cannabis
As the cannabis industry continues to grow, so does its demand for banking services. Brandi Reynolds champions an enhanced due ...
Tag: anti-money laundering/AML
Anti-money laundering or AML refers to laws and regulations designed to prevent people from hiding money that they’ve obtained in illegal ways. From a compliance standpoint, AML regulations require that banks and other financial institutions follow rules and regulations to ensure they’re not issuing credit to or opening accounts for people who are participating in money laundering schemes or activities.
AML compliance officers are often appointed to oversee AML policies and ensure that organizations are compliant.
The following articles and resources cover many aspects of anti-money laundering as it relates to compliance and risk management.
The Corporate Transparency Act: Pulling Back the Veil
The Corporate Transparency Act (CTA) will require millions of U.S. businesses to provide beneficial ownership information to the federal government. ...
Cashless Payments: AML and BSA Risk Management
The COVID-19 pandemic has led to more interest in cashless payments in the gaming industry, but casinos need to consider ...
The Most Significant Change to AML Rules Since the Patriot Act
Anti-money laundering laws have now seen the most significant reformation of the Bank Secrecy Act since the adoption of the ...
The Top Regulatory Trends to Watch in 2021
Whether it’s global reforms in combatting financial crime, the impact of Brexit or the acceleration of digitalization in financial services, ...
The Mafia’s Jackpot: How Criminal Organizations are Profiting from COVID-19
Mafia groups are taking advantage of the COVID-19 crisis to acquire bankrupt entities for their nefarious purposes. Pideeco’s Stefano Siggia ...
QuantaVerse Launches New Financial Crime Investigation Report
QuantaVerse Adds New FCIR to Speed Initial Reviews of TMS Alert Investigations Wayne, PA (January 20, 2021) – QuantaVerse, which uses AI ...
Adverse Media Screening: Relying on Google Alone Can Expose Organizations to Risk
Regulatory agencies around the world emphasize the importance of mitigating risks through adverse media screening. In fact, screening for negative ...
Banks Worldwide Amass $15B in Fines in 2020, U.S. Banks Account for 73%
Data acquired from the Bank Fines Report 2020 by Finbold.com indicates a total of $15.13 billion (€12.79 billion) in aggregated bank fines last ...
Technology Enhancements to the QuantaVerse Financial Crime Platform Extend its Lead in AML Innovation
Wayne, PA (January 5, 2021) – QuantaVerse, which uses AI and machine learning to automate financial crime identification and investigations, finished 2020 well-positioned for ...
Identifying and Preventing Money Laundering in a Pandemic
“In every crisis, an opportunity:” the criminal’s motto, probably. Financial crime compliance consultant Shubham Jain discusses what banks can do ...
Know Your Customer Partners with Refinitiv to Add World-Check Data in End-to-End AML and KYC Solution
Hong Kong, Singapore & Dublin (December 9, 2020) – Award-winning RegTech provider Know Your Customer is partnering with Refinitiv, a world-leading provider of financial ...
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