I am a strong proponent of conducting a risks assessment as part of an overall ethics and compliance program. However, I often caution companies to balance benefits and costs, and not to conduct a ...

For the first time in a decade, the Treasury Department has released its own anti–money laundering (AML) and terrorist financing Risk Assessments, which may both set a strategic framework for future ...

How smart is your AI-powered tool if the data it relies on is flawed? AI, and especially agentic AI tools, are evolving at a rapid speed, with the use of AI increasing from 33% in 2023 to 71% as of ...

On Sept. 16, 2020, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued an Advance Notice of Proposed Rulemaking (ANPRM) to strengthen the national anti-money ...

Time and again, seemingly successful bank mergers have been rocked by revelations of poor anti-money-laundering compliance. Assessing the AML risk of a potential merger partner is extremely tricky, ...

There is a robust international network working to prevent money laundering. It’s called the FATF (Financial Action Task Force). It has headquarters in Paris and works through nine regional satellite ...

Several recent anti-money-laundering enforcement actions required the targeted banks to establish board-level compliance committees, including the recent consent order involving JPMorgan Chase. As we ...

The association made a joint submission with the Financial Advice Association Australia to the Department of Home Affairs’ ...

“Fighting financial crime is a priority for the FCA,” said Mark Francis, director of specialists at the watchdog, adding that it had “driven progress in the way money laundering is tackled in the ...