Transaction Monitoring & Analysis Tools
By: Julie on March 23, 2020
As a part of the independent review process and ongoing compliance requirements, transaction monitoring is something that is often overlooked by Money Services Businesses (MSBs). The fundamentals of transaction monitoring are implemented systems to identify and protect institutions from transactions that are not compliant with The Bank Secrecy Act (BSA), Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC).… Read More
Financial Crime
By: Julie on August 14, 2018
The Owner and Compliance Officer of Kayla Companies, John Drago has been charged with eight indictments by the federal court in Central Islip of Long Island, NY for financial crime. Drago faces a maximum sentence of up to 10 years’ imprisonment. The majority of the charges were direct violations of the Bank Secrecy Act (BSA) that included failure to file… Read More
Hola- Compliance Servicios en Español
By: Julie on July 6, 2018
Nos complace anunciar que nuestros increíbles servicios de cumplimiento y soluciones tecnológicas ahora están disponibles con asistencia en Español. Entendemos que el cumplimiento normativo puede ser abrumador y si las cartas, los documentos y la capacitación no están en el idioma con el que se siente cómodo, eso intensificará el desorden. Con nuestra ayuda en español, tendrá a alguien que… Read More
Compliance Personality Traits
By: Julie on June 12, 2018
What's Your Compliance Personality? There are countless things we have learned from being in financial services for over 40 years, but one of the most valuable is how to develop and improve compliance services and technology solutions based off of the needs of the many personalities that we have worked with along the way. We have analyzed and categorized our… Read More
FinCEN CDD Rule- The 5th Pillar
By: Julie on May 7, 2018
The Financial Crimes Enforcement (FinCEN) Network issued its Final Rule for Customer Due Diligence (CDD) under the Bank Secrecy Act (BSA) on May 11, 2016 with an implementation date of May 11, 2018. Covered financial institutions must identify at least a beneficial owner under the control criterion for each legal entity customer. Covered financial institutions may identify beneficial ownership by… Read More
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