Tag Archives: aml compliance
AML compliance updates for 2021
Anti-Money Laundering Act “AMLA” of 2020 and the implications By Vanessa Malone AML compliance updates for 2021 are off to a strong start and regulated entities would do well to prepare for the scope of these changes. On January 1, 2021, Congress passed the National Defense Authorization Act. In this included the Anti-Money Laundering Act […]Continue Reading
Posted inUncategorizedLeave a comment on AML compliance updates for 2021
FinCEN Files highlight glaring issues with current AML system and AML compliance programs
Considerations for financial institutions looking to re-approach their AML compliance programs By Vanessa Malone Last week, the Financial Crimes Enforcement Network (FinCEN) announced a plan to make significant reforms to the U.S. anti money laundering system. Coincidentally this announcement came just days before the release of the “FinCEN Files,” a culmination of a 16-month long […]Continue Reading
Posted inUncategorizedLeave a comment on FinCEN Files highlight glaring issues with current AML system and AML compliance programs
FBI leak targets AML deficiencies in private investment funds
Why investment advisors, hedge funds and private equity firms should prepare compliance programs for increased regulatory scrutiny By Vanessa Malone In a leaked bulletin prepared by the U.S. Federal Bureau of Investigation in May 2020, the agency reported that “threat actors” are likely using hedge funds and private equity firms to launder money and avoid […]Continue Reading
Posted inUncategorizedLeave a comment on FBI leak targets AML deficiencies in private investment funds
The importance of Know Your Customer (KYC) for securities offerings
What you need to know about KYC and how to keep your securities offering compliant and competitive in 2020 By Vanessa Malone The exempt securities offering market is on the rise. In 2019, 69.2% of all new capital raised was through an exempt securities offering. With the SEC’s newly proposed set of amendments to harmonize common […]Continue Reading
Posted inUncategorizedLeave a comment on The importance of Know Your Customer (KYC) for securities offerings
What is Anti-Money Laundering (AML)?
What is anti-money laundering “AML” and how can you stay compliant in 2020?( By Vanessa Malone What is anti-money laundering, or AML? Anti-money laundering refers to a set of rules and regulations financial institutions must adhere to in order to help detect and prevent money laundering, fraud, and terrorist financing. The legislative framework these rules come from […]Continue Reading
Posted inResearch, TechnologyLeave a comment on What is Anti-Money Laundering (AML)?
What anti-money laundering software looks like on the blockchain
By Vanessa Malone Money laundering has reached a new level of sophistication in today’s digital age, with criminals finding new ways to utilize the internet and conceal the origin of illegally obtained funds every day. The blockchain introduced a new anti-money laundering (AML) hurdle — the ability to make transactions to anyone in the world anonymously. With […]Continue Reading
Posted inUncategorizedLeave a comment on What anti-money laundering software looks like on the blockchain