Whether “False Negatives” or “False Positives”, the Answer May Not Lie Just in New or Improved Technologies, but in an […]
Category: FinTech, Financial Crimes, and Risk Management
FinCEN’s BSA Value Project is A Year Old … How Is It Going?
In January 2019, FinCEN launched its “BSA Value Project” – an effort to “catalogue the value of BSA reporting across […]
Like Sam Loves Free Fried Chicken, Law Enforcement Loves “Free” Suspicious Activity Reports … But What If Law Enforcement Had to Earn the Right to Use the Private Sector’s “Free” SARs?
“Well, I’m here in the freezing cold getting’ free chicken sandwiches. Because the food tastes great. I mean, it’s chicken. […]
A Bank’s Bid for Innovative AML Solutions: Innovation Remains A Perilous Endeavor
One Bank Asked the OCC to Have an “Agile Approach to Supervisory Oversight” On September 27, 2019 the OCC published […]
The Current BSA/AML Regime is a Classic Fixer-Upper … and Here’s Seven Things to Fix
There is a lot of media attention around the need for a new way to tackle financial crimes risk management. […]
FinCEN’s BSA Value Project – An Effort to Provide Actionable Information for SAR Filers
Two Million SARs are Filed Every Year … But Which Ones Provide Tactical or Strategic Value to Law Enforcement? On […]
The WayBack Machine … and the Marihuana Problem in New York (circa 1944) – updated with the OFAC Fentanyl Drug Trafficking Organization Designation of August 21, 2019
One of the greatest investigative tools available today is the Internet Archive, a “non-profit library of millions of free books, […]
BSA Reports and Federal Criminal Cases – What’s the Connection?
54,000 Federal Criminal Cases … and 20,000,000 BSA Reports If the question is “how many BSA reports are used in […]
Artificial Intelligence – Who Is On The Hook When Things Go Wrong With Your AI System? You Are!
“Organisations and individuals developing, deploying or operating AI systems should be held accountable for their proper functioning” For all the […]
BigTech, FinTech, and the Battle Over Financial Services
BigTech vs FinTech – Which Will Replace Traditional Banks? Two recent papers have looked at the attributes, relative strengths and […]