Fraud and money laundering go hand in hand and fraudsters are early adopters of new money laundering opportunities; as participation in the cryptocurrency space gains momentum, so does fraud. This is not surprising as cryptocurrencies (virtual assets) can be lucrative, easily interchangeable and moved...

Until August 2012, a segment of the financial industry known as non-bank residential mortgage lenders and originators (RMLOs) was exempt from the anti-money laundering (AML) requirements that the Bank Secrecy Act (BSA) and USA PATRIOT Act imposed upon commercial banks, broker-dealers, money services businesses...

Central to an effective anti-money laundering (AML) program is having an experienced Bank Secrecy Act (BSA) officer. A keen understanding of BSA is a must but the BSA officer must also have other skills if they are to implement an effective AML program in...