Results include
May 19, 2022
Anti-money laundering practices have been under more scrutiny as the pandemic ushered in more digital payments and cryptocurrency activity. Now, with the invasion of Ukraine, anti-money laundering measures and OFAC compliance tops regulators’ lists. Here are important risks to look out for and reminders on how to continue strengthening your practices to mitigate these risks.
Aug 24, 2023
It’s not enough to have a robust program to comply with the Bank Secrecy Act and anti-money laundering regulations — CFIs are required by regulation to also routinely audit whether their programs are truly adequate enough to thwart nefarious acts like drug trafficking and terrorism. We share details of an appropriate auditing process.
Mar 6, 2024
ISO 20022, a new messaging standard by the International Organization for Standardization, enhances communication between financial institutions and customers. Benefits include improved fraud prevention, AML/KYC practices, and efficiency in payment processing. As the November 2025 deadline for compliance looms, we discuss why starting migration now is of benefit to you.
Jun 13, 2023
FinCEN issued an updated beneficial ownership information rule to more effectively deter criminals from using shell companies to launder money and perform other nefarious activities. How does this updated rule impact financial institutions? We delve into what we know so far.
Apr 1, 2024
Partnering with fintechs is a good way for CFIs to quickly enhance their online services and offerings. But such partnerships can also create unintended risks for CFIs, a reality that has spurred regulators to step up oversight in this area.
Dec 18, 2023
The need for speed has become a central goal for cross-border payments. Smaller businesses stand to benefit from improvements. We discuss how cross-border payments can be used to encourage customer loyalty.
Apr 20, 2023
Technology is a major factor in the financial institutions that people choose. Remaining competitive requires knowing where your peers and competitors are investing on the tech front. We review the top digital priorities financial institutions have right now.
Mar 9, 2023
As regulators shift their focus areas for this year’s audits, CFIs should pay particular attention to the new areas that have caught the eyes of regulatory agencies. Knowing what each particular regulator is focusing can be key to acing regulatory exams.
Jan 11, 2023
Challenging economic conditions coupled with the boom in embedded finance mean that BaaS is an attractive opportunity for CFIs seeking growth. We look at the BaaS market, various key success factors, and how some CFIs are capitalizing on this opportunity.
Jun 27, 2023
Money mule activity is on the rise and CFIs need to be aggressive in their efforts to thwart it, both through initiatives to educate consumers about the risks and internal efforts to identify and crack down on the practice. We discuss precautions to take to protect your customers and your institution from money mules.
Oct 3, 2022
As the amount of online fraud continues to rise, there is mounting evidence that information-sharing initiatives around the world could provide a glimpse into the future of how financial institutions can most effectively identify and combat cybersecurity attacks.
May 22, 2023
The broad, complex sanctions imposed on Russia following its second invasion of Ukraine have been very challenging for financial institutions. CFIs may have to choose between managing the sanctions’ complications or simply avoiding relationships that would require navigating them.