BlogOptimizing high-risk customer management and ongoing due diligenceMarch 20, 2018 by Verafin An already challenging BSA/AML compliance risk environment continues to grow in complexity, as financial institutions seek to meet requirements for due diligence on higher-risk categories of customers. Without question, risk... |
BlogImproving your risk-based CDD with intelligent categorizationApril 17, 2018 by Verafin 2018 updates to Customer Due Diligence requirements have increased regulatory emphasis on how BSA/AML departments must conduct ongoing customer due diligence. The FFIEC BSA/AML Examination Manual states that AML programs,... |
BlogBeneficial Ownership: 5 Key Compliance ObligationsAugust 14, 2017 by Verafin For many years, financial crime investigators have warned of possible links between shell companies and international money laundering activity. In the 2013 report How Shell Companies Aid Terrorism, Crime and... |
BlogBeneficial Ownership FAQsNovember 14, 2017 by Verafin A lot of digital ink has been spilled concerning the collection of Ultimate Beneficial Owner (UBO) information. Most of the buzz around the FinCEN’s final rule on Customer Due Diligence... |
BlogKey Takeaways from FFIEC Updated CDD Examination ProceduresJune 12, 2018 by Verafin On May 11, 2018, the FFIEC released new Customer Due Diligence (CDD) Examination procedures that reflect and codify the requirements of FinCEN’s final CDD rule. These updates detail how financial... |
Archived WebinarUsing Big Data Intelligence for Big Gains in Fighting CrimeOriginally Presented: November 7, 2018 Institutions are facing increased pressure to mitigate the risk of fraud and money laundering, and stay compliant. But as workload and costs increase, false positives can overwhelm already strained resources,... |
Archived WebinarFinding MSBs: Check Cashers & Money TransmittersOriginally Presented: May 15, 2018 Despite having robust account opening procedures, it is likely that your financial institution has unidentified Money Service Businesses. After onboarding, your customers may expand their business offering to include check-cashing... |
Archived WebinarNew FFIEC Exam Procedures for Customer Due DiligenceOriginally Presented: June 26, 2018 On May 11, 2018, the FFIEC released new Customer Due Diligence Examination procedures that reflect and codify the requirements of FinCEN’s final CDD rule. These updates detail how financial institutions... |
Archived WebinarToday’s Risk Landscape: High-Risk Customer GroupsOriginally Presented: March 14, 2018 FinCEN’s final rule on Customer Due Diligence Requirements has brought increased scrutiny on compliance programs to understand the nature and purpose of customer relationships on an ongoing basis. With... |
Archived WebinarAre you banking Marijuana-Related Businesses?Originally Presented: May 22, 2018 FinCEN’s 2014 guidance outlines BSA obligations including SAR filing requirements for banking Marijuana-Related Businesses (MRBs). Whether or not your institution chooses to bank these businesses, it is imperative to your... |
