Authors: Joe Labrozzi and Michael Gaul Imagine waking up to news reporting the credit card data of 37 million people has been hacked. And then learning that among the hacked are employees of your company who used their corporate…

Firms must comply with the Bank Secrecy Act and its implementing regulations (“AML rules”). – Financial Industry Regulatory Authority The Bank Secrecy Act (BSA) and all the related laws that have been passed since the BSA began in 1970, aim…

Do you or does your company engage in transactions with foreign companies or individuals? Do you have business or financial relationships with any kind of foreign entity that exists within a country or region that is on a Federal…

Both the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) mandate that covered financial entities—and this includes all banking institutions, virtually all money service businesses, and many cash-intensive non-bank businesses—establish an Anti Money Laundering…

One of the hottest—and hardest—topics in BSA/AML compliance is managing the risks due to third parties. Regulatory agencies including FinCEN, OFAC, and others have expanded the definition of “third party” to include any business relationship between a financial entity…