Bank discontinuance is no longer just a catch phrase. Some consider it to be not an epidemic but a pandemic. Gone are the days where a MSB could readily open a bank account with their ID and a pen stroke. This is not about blame...

In recent years, Colombia has made important advances in the fight against money laundering. Colombian security officials highlight the importance of having a skillful police force, a dynamic and forceful support from the U.S. government, a responsible and proactive banking system and strong financial...

FATF Recommendation 8 states that non-profit organizations (NPOs) are particularly vulnerable to money laundering and terrorist financing, and countries should ensure that they are not misused. Anti-money laundering (AML) professionals who provide volunteer services not just as humanitarians, but as professional gatekeepers and watch...

First, let me thank ACAMS for inviting me to address you today. 2015 is turning out to be a landmark year in the global fight against money laundering (ML) and terrorist financing (TF), and potentially a turning point in the history of Canada’s anti-money...

On May 12, 2015, the Financial Crimes Enforcement Network (FinCEN) held its first Annual Law Enforcement Awards Ceremony to recognize law enforcement agencies who made effective use of Bank Secrecy Act (BSA) data and obtained successful prosecutions in several different categories. FinCEN Director Jennifer Shasky...

As federal regulators continue to throw a more stringent and broader investigative net over financial crime and potential money laundering violations, banks and other financial institutions are carefully reassessing their Bank Secrecy Act/anti-money laundering (BSA/AML) programs, looking primarily for compliance gaps and inadequacies. Financial...

A risk assessment is an important process that many consider critical to ensuring the health of a Bank Secrecy Act (BSA) program. As BSA officers continue to enhance the rigor behind their risk assessment process, regulators and practitioners are beginning to ask if risk assessments...