WorkFusion’s Post

Big news! The new AML/CFT regulation has cleared the White House, introducing eight national priorities for banks to incorporate into their compliance programs. Financial institutions must now assess their exposure and update compliance programs to stay ahead. 🌐 Protect your reputation and ensure compliance with Velocity FinCrime Solutions Suite.Check out our website for more details - https://lnkd.in/dcD4C3CQ   #AlacerGroup #VelocityFinCrime #FinCrime #Compliance #ComplianceSolutions #AntiFinancialCrime #AntiMoneyLaundering #FinancialSecurity #2024Trends #AMLSoftware #Fraud #FraudSoftware #AntiFraud

At AML Analytics, we recognise that a comprehensive assessment of your sanction screening system requires scrutiny at every level. This is why we provide Global Benchmark™ scores for peer comparison at both control and manipulated level. ☑️ Control level is when tests are created using records exactly as they appear on sanction lists. ☑️ Manipulated level is when test records are changed using algorithms to test the fuzzy logic matching capabilities of a sanction screening system. By scrutinising both control and manipulated scores, you gain valuable insight into your system's performance compared with your peers around the globe. This approach drives system performance through evidence-based tuning so you can fortify your defences against financial crime risk. Learn more: https://lnkd.in/dHQudDEf #FinancialInstitutions #Compliance #AML #CFT #Sanctions #RegTech #Risk #Tech #Banking #FinancialCrime #FinancialServices #FinTech

🚨 Breaking down the $3B TD Bank AML/BSA case 🚨 In one of the most significant enforcement actions, TD Bank faces a $3 billion penalty for failures under the Bank Secrecy Act. The case exposes how inadequate compliance funding and outdated systems led to massive oversight failures, allowing $18.3 trillion in transactions to go unmonitored between 2018 and 2024. With shocking internal awareness and blatant neglect of AML obligations, this case is a stark reminder of the cost of cutting corners in compliance. Explore the details in our latest blog post here: https://bit.ly/3UbzLsf. #AML #Compliance #FinancialCrime #TDCase #RiskManagement #CorporateGovernance #BSA #FinanceNews #BankingIndustry #AMLCompliance #FinancialRegulations #MoneyLaundering

🚨 Breaking down the $3B TD Bank AML/BSA case 🚨 In one of the most significant enforcement actions, TD Bank faces a $3 billion penalty for failures under the Bank Secrecy Act. The case exposes how inadequate compliance funding and outdated systems led to massive oversight failures, allowing $18.3 trillion in transactions to go unmonitored between 2018 and 2024. With shocking internal awareness and blatant neglect of AML obligations, this case is a stark reminder of the cost of cutting corners in compliance. Explore the details in our latest blog post here: https://bit.ly/3UbzLsf. #AML #Compliance #FinancialCrime #TDCase #RiskManagement #CorporateGovernance #BSA #FinanceNews #BankingIndustry #AMLCompliance #FinancialRegulations #MoneyLaundering

🔦 As global regulators continue to shine a spotlight on the effectiveness of firms’ transaction monitoring controls, are you confident that your systems and processes are as strong as they could be? ✅ Find out how nsave optimised their transaction monitoring system with the help of FINTRAIL to achieve enhanced AML compliance and efficiency 👉 https://lnkd.in/euCNq2jG #fincrime #transactionmonitoring #aml #fraud

Join us for this game show style webinar, and sharpen your AML investigation skills! Hosted by Rio Miner, Head of Intelligence at Refine Intelligence, this webinar invites contestants to use their reasoning in several AML scenarios. Register today for this fun learning opportunity! https://bit.ly/3tSGMnZ #ACFCS #FinCrime #FinancialCrime #AML #Investigations

TD Bank is taking significant steps to overhaul its AML compliance program following an OCC Consent Order. The bank must submit a comprehensive action plan, hire independent consultants, and implement strict remediation measures to address its deficiencies. These efforts, combined with asset growth restrictions and financial commitments, highlight the importance of maintaining a robust compliance framework. Learn more about the bank’s response and the lessons all financial institutions can take from this case in our latest blog. 👉 Read the full article here: https://bit.ly/4fcg0Jp #Compliance #AML #OCCConsentOrder #BankingRegulation #FinancialCompliance #RiskManagement #BSACompliance #TD

Happy to share our latest whitepaper, "Navigating Compliance: A Comprehensive Guide to AML/CFT for Credit Unions,". This guide provides an in-depth look at the regulatory landscape, key obligations, and best practices for credit unions to effectively combat money laundering and terrorism financing. Stay compliant, mitigate risks, and safeguard your operations by diving into our comprehensive guide. Let's work together to create a secure financial environment for all. #AML #CFT #Compliance #CreditUnions #RiskManagement #FinancialSecurity #TransvisionSolutions

TD Bank is taking significant steps to overhaul its AML compliance program following an OCC Consent Order. The bank must submit a comprehensive action plan, hire independent consultants, and implement strict remediation measures to address its deficiencies. These efforts, combined with asset growth restrictions and financial commitments, highlight the importance of maintaining a robust compliance framework. Learn more about the bank’s response and the lessons all financial institutions can take from this case in our latest blog. 👉 Read the full article here: https://bit.ly/4fcg0Jp #Compliance #AML #OCCConsentOrder #BankingRegulation #FinancialCompliance #RiskManagement #BSACompliance #TD

The proposed rule would require certain investment advisers to apply AML/CFT requirements pursuant to the Bank Secrecy Act, including implementing risk-based AML/CFT programs, reporting suspicious activity to FinCEN and fulfilling recordkeeping requirements. Find out more: https://lnkd.in/gYcdfV56 #compliance #AML #CFT #assetmanagement