The Anti-Money Laundering Act of 2020 (AML Act) serves as the starting point for financial institutions and companies looking to understand what to expect from the Biden administration with respect to anti-money...more
3/10/2021
/ AML/CFT ,
Anti-Money Laundering ,
Beneficial Owner ,
Biden Administration ,
Corruption ,
Cross-Border Transactions ,
Financial Crimes ,
Financial Institutions ,
Financial Transactions ,
Money Laundering ,
Organized Crime ,
Terrorism Funding ,
Terrorist Financing Regulations
Six steps can take institutions beyond merely good.
What makes for a great anti-money laundering compliance program? This is not a pie-in-the-sky idea. As financial institutions strive to keep up with evolving regulations...more
6/18/2020
/ AML/CFT ,
Anti-Money Laundering ,
BSA/AML ,
California Consumer Privacy Act (CCPA) ,
Customer Due Diligence (CDD) ,
Financial Institutions ,
FinCEN ,
General Data Protection Regulation (GDPR) ,
Money Laundering ,
Risk Management ,
Suspicious Activity Reports (SARs)
K2 Intelligence Financial Integrity Network's Tom Bock and Chip Poncy will join Sarah Runge, global head of FCC regulation strategy at Credit Suisse, on a live webinar, "Improving Effectiveness and Sustainability in Financial...more
6/9/2020
/ Analytics ,
Banking Sector ,
Best Practices ,
Compliance ,
Enterprise Risks ,
Financial Crimes ,
Financial Services Industry ,
Information Sharing ,
Risk Management ,
Sustainability ,
Webinars
What do people see when they look at a piece of fine art—such as a painting by Cezanne, a sculpture by Giacometti, or a three-dimensional combine by Rauschenberg? To a great extent, it depends on who’s doing the looking. An...more
7/29/2019
/ Anti-Money Laundering ,
Art Collections ,
Art Dealers ,
Art Galleries ,
Art Sales ,
Bank Secrecy Act ,
Cooperative Compliance Regime ,
EU Directive ,
Financial Crimes ,
Financial Institutions ,
Fine Art ,
Know Your Customers ,
Legislative Agendas ,
Money Laundering ,
Proposed Legislation ,
Regulatory Standards ,
Risk Management ,
Trafficking
In “Enterprise-Wide Risk Assessments Have Never Been More Important” (Thomson Reuters Regulatory Intelligence, 17 Jan. 2019), authors Tom Bock, head of K2 Intelligence’s Regulatory Compliance practice, and Darren Matthews,...more
The stakes are high in combating global financial crime. If criminals succeed in hiding ill-gotten gains, they can continue to commit crimes and finance terrorism. ...more
1/15/2019
/ BSA/AML ,
Currency Transaction Reports (CTR) ,
Customer Due Diligence (CDD) ,
Defense Strategies ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Money Laundering ,
Regulatory Standards ,
Risk Management ,
White Collar Crimes
A joint statement by five federal agencies on October 3, 2018, that details how smaller financial institutions can share resources to improve their anti-money laundering (AML) and Bank Secrecy Act (BSA) compliance is welcome...more
Fulfilling today’s requirements for anti-money laundering and counterterrorism financing/sanctions compliance is no easy task for financial institutions.
...more
3/19/2018
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
BSA/AML ,
Customer Due Diligence (CDD) ,
Financial Institutions ,
FinCEN ,
Legislative Agendas ,
Money Laundering ,
Patriot Act ,
Proposed Legislation ,
Reporting Requirements ,
Risk Management ,
Suspicious Activity Reports (SARs)
It’s not just your taxes that are due each year on April 15. For financial institutions, this coming April 15 is the date the New York Department of Financial Services’ (NYDFS’s ) new Anti-Money Laundering (AML) Part 504...more
2/20/2018
/ Anti-Money Laundering ,
Banking Sector ,
BSA/AML ,
Certification Requirements ,
Cooperative Compliance Regime ,
Financial Institutions ,
NYDFS ,
Regulatory Oversight ,
Regulatory Standards ,
Risk-Based Approaches ,
White Collar Crimes
With two decades of experience in bank fraud investigations and anti-money laundering compliance—including the creation of early-warning systems to detect potential money laundering and suspicious activity—Thomas Bock was...more
Compliance officers at financial institutions have made great strides in improving Know Your Customer (KYC) programs to focus on knowing their customers as a critical function in combating money laundering. As regulators...more
11/21/2016
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
Beneficial Owner ,
Broker-Dealer ,
BSA/AML ,
Commodities ,
Customer Due Diligence (CDD) ,
Financial Institutions ,
FinCEN ,
Know Your Customers ,
Mutual Funds ,
National Security ,
Panama Papers ,
Risk Assessment ,
Risk Management ,
Risk Mitigation ,
Securities ,
Terrorism Funding ,
World Bank
FinCEN focus requires major shift in gaming business practices -
Which complex, global industry where billions of dollars exchange hands every day, and where high-net-worth customers park significant sums, is facing...more
10/24/2016
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Casinos ,
Financial Institutions ,
FinCEN ,
Gambling ,
Gaming ,
Know Your Customers ,
Popular ,
Risk Assessment ,
Risk Management