Below is a letter from an imaginary Bank Secrecy Act (BSA) officer. The BSA officer and the institution are completely fictitious. Although the case studies are true, the following letter is fictional and does not depict any actual person or financial institution. A letter...

Today’s financial compliance environment in many ways mirrors the dynamic, hyperspeed and often confusing world in which we all live. It is often difficult to gain a clear perspective of the ultimate goal of our profession. The most clear-cut position is that anti-money laundering...

With so many regulatory enforcement actions impacting America’s corporate landscape today—especially citing failures to comply with anti-money laundering (AML) requirements—has anyone asked, “Where were the auditors?” A bank’s internal, independent audit function is the last line of defense before regulators and law enforcement, and...