The Bank Secrecy Act (BSA) does not explicitly state that money services businesses (MSBs) must conduct an anti-money laundering (AML) risk assessment. However, it does say that an MSB “shall develop, ...

THERE HAS BEEN GOOD NEWS IN THE FIGHT TO ENFORCE ANTI-MONEY LAUNDERING (AML) AS COMPLIANCE RATES HAVE BEEN HOLDING STEADY. ------ ...

Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) in issuing a notice of proposed rulemaking that would require financial institutions ...

Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism (AML/CFT) programs under a new rule proposed by ...

In 2024, FinCEN and the federal bank regulators announced more than three dozen enforcement actions against banks and individuals arising from alleged Bank Secrecy Act (BSA), anti-money laundering ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. AI, and especially agentic AI tools, are evolving at a rapid speed, with the use of AI ...

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 ...

NEW YORK, May 15, 2025 /PRNewswire/ -- AU10TIX, a global leader in identity verification and fraud prevention, today announced the launch of continuous risk monitoring as part of its advanced ...

Anti-money laundering (AML) company Strise announces a strategic partnership with the largest independent wealth manager in the Nordics, Formue , to overhaul its client verification and financial ...

The Investment Adviser Association wants low-risk advisors and investors to be exempt from a money laundering and anti-terrorism proposal issued by the Treasury Department’s Financial Crimes ...