Tag Archive: Bank Secrecy Act

GAO Makes Recommendations to Improve Compliance in Southwest Border Region Banks

Recently, a study was conducted by the US Government Accountability Office (GAO) regarding residents and businesses along the Southwest border of the United States that were experiencing difficulties accessing banking services in the area.  The GAO was asked to investigate… Read more >

U.S. Compliance Laws Need to Strengthen

Money laundering is a major problem rising within the United States and the current laws are just not enough to be effective in preventing this issue.  Recently, Senator Elizabeth Warren put her support on the Senate floor for stricter anti-money… Read more >

Technology Grows Human Capabilities and Intelligence in AML Compliance Software

Dan Adamson, President of DDIQ & Global Head of Cognitive Computing at Exiger, believes that technology is not a human’s rival, but an opportunity to grow our human capabilities. Combining both humans and technology will extend human intelligence, rather than… Read more >

Citigroup Pays $97.4 Million Fine to Settle Money Laundering Charges

For a number of years now, employees of Citigroup have been skeptical that the millions of dollars the bank was routing to Mexico were suspicious, however, the bank failed to forewarn regulators or look more closely at their monitoring system… Read more >