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Cybersecurity › BSA/AML

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +
Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now.   less -
Mayer Brown Free Writings + Perspectives

FINRA Publishes 2024 Annual Regulatory Oversight Report

Mayer Brown Free Writings + Perspectives on

New Topics and Content Highlight FINRA’s Increased Focus on Cybersecurity, Crypto Assets, Artificial Intelligence, Market Integrity, Off-Channel Communications and Other Key Risk Areas - On January 9, 2024, the Financial...more

BakerHostetler

New York State Department of Financial Services Publishes First Crypto Industry Consent Order

BakerHostetler on

​​​​​​​On August 1, 2022, the New York State Department of Financial Services (“DFS” or “Department”) issued a Consent Order, imposing a $30 million fine on Robinhood Crypto, LLC (“Robinhood”), a trading platform that allows...more

Robinson+Cole Data Privacy + Security Insider

New York DFS Fines Robinhood $30M for “Significant” Cybersecurity Violations

Robinson+Cole Data Privacy + Security Insider on

The New York Department of Financial Services (DFS) announced its first ever penalty against a cryptocurrency platform this week, with a whopping $30 million fine assessed against Robinhood Crypto, LLC (RHC) for what it...more

Ballard Spahr LLP

OCC Highlights Risks Associated with Compliance Staffing Concerns, Russia Sanctions, Environmental Crimes, Cyber Attacks and...

Ballard Spahr LLP on

On June 23, 2022, the Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective (SRP) for spring 2022. In the SRP, the OCC opines on its current safety and soundness concerns for banks under...more

Mayer Brown Free Writings + Perspectives

FINRA Publishes 2022 Report on Its Examination and Risk Monitoring Program

Mayer Brown Free Writings + Perspectives on

FINRA adds new topics for 2022 and new material to previously covered topics. Overview - On February 9, 2022, the Financial Industry Regulatory Authority, Inc. (“FINRA”) published its 2022 Report on FINRA’s...more

Burr & Forman

FINRA’S 2022 Report on Examination & Risk Monitoring Program

Burr & Forman on

Over the last couple of decades, the securities self-regulatory organization FINRA (f/k/a NASD) informs its membership each year of what compliance risks are noted by its examination program. Those are risks firms should...more

Morrison & Foerster LLP

Financial Services Report - Summer 2021

Morrison & Foerster LLP on

As spring turns to summer, climate change is on our minds. A new day, a new story about how financial institutions are addressing climate-related risks. In the past few months, six major banks—Bank of America, JPMorgan...more

Burr & Forman

New Emphasis in SEC 2021 Examination Priorities

Burr & Forman on

The U.S. Securities and Exchange Commission (“SEC”) released its 2021 Examination Priorities on March 3.  The Examinations group – elevated last December to Division status (formerly the Office of Compliance Investigations...more

Morrison & Foerster LLP

Financial Services Report - Spring 2021

Morrison & Foerster LLP on

Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more

Morrison & Foerster LLP

Financial Services Report – Fall 2020

Morrison & Foerster LLP on

We join the nation in mourning the passing of Supreme Court Justice Ruth Bader Ginsburg. Over her 20-year career before appointment to the D.C. circuit court, Justice Ginsburg fought for equal rights in the workplace, among...more

Ballard Spahr LLP

FinCEN and OFAC Advisories Aim to Increase Cybersecurity Awareness and Thwart Ransomware Attacks in the Financial Sector

Ballard Spahr LLP on

October is National Cybersecurity Awareness Month, and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and Office of Foreign Assets Control (“OFAC”) kicked off the month by issuing two...more

Lowndes

Dear Ransomware Victim and Your Accountants, Attorneys and Forensic Specialists: The Government Just Made Your Life Harder

Lowndes on

By now, most everyone knows that ransomware is software that infects your computer system, makes your data irretrievable and usually breaks things along the way. To unlock your system, the bad guys (or girls) demand you pay a...more

Hogan Lovells

Treasury Department issues ransomware guidance in response to significant uptick in ransomware attacks

Hogan Lovells on

In response to the significant rise in ransomware attacks since the start of the COVID-19 pandemic and just in time for Cybersecurity Awareness Month, the Department of the Treasury’s Financial Crimes Enforcement Network...more

Foodman CPAs & Advisors

GAFILAT Identifies Money Laundering/Terrorist Financing Emerging Threats

Foodman CPAs & Advisors on

GAFILAT (Financial Action Task Force of Latin America) published a Second Update to the Money Laundering Regional Threat Report (2017-2018) that includes:  ANNEX VI: THREATS RELATED TO THE COVID-19 PANDEMIC.   ...more

Mitratech Holdings, Inc

The Top 10 Vendor Risks & How to Manage Them

Mitratech Holdings, Inc on

Increasing globalization, a heavy reliance on outsourcing, growth of cloud computing, and the transition to digitization and remote work since the COVID-19 crisis have each heightened the regulatory focus on vendor risk...more

Ballard Spahr LLP

FinCEN Issues Advisory on Cyber-Enabled Crime Fueled by COVID-19

Ballard Spahr LLP on

The Financial Crimes Enforcement Network (“FinCEN”) just issued yet another Advisory regarding fraud threats faced by financial institutions, as exacerbated by the COVID-19 pandemic. This Advisory pertains to “Cybercrime and...more

Ballard Spahr LLP

Cyber-Enabled Financial Crime and Money Laundering

Ballard Spahr LLP on

Today we are very pleased to welcome guest blogger Moyara Ruehsen, PhD, CAMS, CFCS, who is an Associate Professor and Director of the Financial Crime Management Program at the Middlebury Institute of International Studies in...more

Skadden, Arps, Slate, Meagher & Flom LLP

Compliance in a Time of Crisis

Skadden, Arps, Slate, Meagher & Flom LLP on

Addressing the Evolving Risks - Warren Buffett said that “only when the tide goes out do you discover who’s been swimming naked.” Buffett was not talking about compliance programs in a time of crisis, but his wisdom applies...more

Ballard Spahr LLP

The OCC Releases Fiscal Year 2020 Bank Supervision Operation Plan

Ballard Spahr LLP on

On October 1st, the Office of the Comptroller of the Currency (OCC) published the Fiscal Year 2020 Bank Supervision Operating Plan (“FY 2020 Plan”). ...more

Jones Day

SEC and FINRA Broker-Dealer Exam Priorities for 2019: How to Prepare

Jones Day on

Earlier this year, the Financial Industry Regulatory Authority released its 2019 Annual Risk Monitoring and Examination Priorities Letter. These published priorities, together with the U.S. Securities and Exchange...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles About FINRA Notices on Cybersecurity and Margin Requirements and No-Deal...

Katten Muchin Rosenman LLP on

BROKER-DEALER - FINRA Issues Information Notice Regarding Suspicious Email Sent to Member Firms - On February 13, the Financial Industry Regulatory Authority (FINRA) published an information notice alerting member firms...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - February 2019 #2

Robinson & Cole LLP on

To illustrate just how creative phishing campaigns have become, on January 30, 2019, it was reported by multiple credit unions that Bank Secrecy Act officers at credit unions around the country received emails that appeared...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - January 2019

Skadden, Arps, Slate, Meagher & Flom LLP on

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including DOJ guidance on the use of corporate monitors in criminal...more

Katten Muchin Rosenman LLP

Bridging the Week - December 2018

Katten Muchin Rosenman LLP on

A federal judge said that it is not a violation of federal law for a trading firm and its chief executive officer to be smarter than their counterparties in ruling against the Commodity Futures Trading Commission in an...more

Bradley Arant Boult Cummings LLP

To Catch a Terrorist – Innovation, AI, and Public/Private Partnerships in the World of BSA/AML

Bradley Arant Boult Cummings LLP on

On the heels of FinCen and Federal Banking Agencies releasing a joint statement “Encouraging Innovative Industry Approaches to AML Compliance,” Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker...more

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