Compiling negative news information about entities is a dynamic process. Assembling static entity information like name, date of birth and tax numbers is only the first step in entity identity and information management. Present day KYC/CIP/EDD requirements for onboarding, customer risk rating, beneficial ownership,...
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Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and sanctions compliance risk assessments are an ongoing challenge to many financial institutions, regardless of their size or scale of operations. When institutions reach or exceed their inherent risk tolerance for offshore risk exposure and the level of risk...

Financial institutions rely heavily on the use of automated technology to detect unusual or suspicious activity. Notwithstanding the sizeable investments that many companies have made to implement and upgrade transaction monitoring systems, the need to validate transaction monitoring systems to ensure they are effective, comprehensive,...

The 2010 edition of the Federal Financial Institutions Examination Council's (FFIEC's) Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual is notable for its significant expansion of the BSA/AML risk assessment section within its Core Examination Overview—a crucial step in promoting the framework which serves as the...

Many banks and other financial institutions are struggling to stay current with anti-money-laundering (AML) regulations. Regulators have assessed several high-profile enforcement actions, fines, and penalties against financial organizations with lax controls over money laundering. Some of these actions were the result of an institution's failure...