Is your financial institution doing what it can and should to identify and mitigate sex trafficking money laundering risks? Are your risk assessment and transaction monitoring models up to date with emerging trafficking risks and trends? The rise of cryptocurrencies and the darknet (or dark web) have created new challenges for financial institutions in detecting […]
Webinar: July 25 – Spotlight: Handling Suspect Credits in ACH Presenters: Sandy Ortins, AAP, APRP, NCP Rayleen M. Pirnie, BCJ, AAP, CERP Compliance Officers and Fraud Investigators are often challenged with identifying appropriate actions when money laundering activity or fraud is suspected with ACH credit entries. The ACH Network Rules must be balanced with applicable […]
Fighting spear phishing attacks is the single best thing you can do to prevent breaches. Social engineering is involved in 70% to 90% of successful compromises. It is the number one way that all hackers and malware compromise devices and networks. No other initial root cause comes close (unpatched software and firmware is a distant second being involved […]
In 2004 the FFIEC quietly and subtly shifted the BSA examination paradigm with the publication of the Bank Secrecy Act / Anti-Money Laundering Examination Manual (“the Manual”). The Manual introduced to examiners the concept of determining an institution’s money laundering, terrorist financing, and OFAC risks through a matrix of pertinent topics rated as Low, Medium, […]
Interview Date: March 10, 2023 Interviewer: Nancy E. Lake Interviewees: Rayleen M. Pirnie, BCJ, AAP, CERP Advisor, NPG & Director of Risk and Fraud, NEACH Sean Blake, CFE Investigations, Americas Corporate Security & Resilience […]
The word “Tuning” may bring to mind the idea of tuning an instrument. As we all know, if your instrument is not tuned properly, no one will appreciate all the time and effort the musician puts into playing it. If all the instruments in an orchestra are not tuned to the chosen frequency, for example, […]
Background If you have been in banking before 2001, you know that BSA compliance was much simpler and not as burdensome as it is today. When it comes to the “Bank Secrecy Act”, it is important to remember there isn’t just one law called the “Bank Secrecy Act”. It is made up of numerous laws […]
This article was originally published on frankonfraud.com. The world we live in is changing before our eyes. 👀 Things are never quite what they seem. Nothing can be taken at face value, and strangers making promises cannot be trusted. 🤥 Sadly, everyone we know has been victimized by fraud or a scam and lost their […]
The Pandora Papers were the result of a leak of almost 12 million documents that subsequently revealed hidden wealth, tax avoidance, and money laundering by some of the world’s richest and most powerful individuals. The data was obtained by the International Consortium of Investigative Journalists (ICIJ) which then collaborated with 140 media organisations on the […]
Readers, am I missing something in my inclusive list? I need your help. If you want to stop thieves from breaking into your house, over and over, you need to figure out how the thieves could break into your house (e.g., doors, windows, floor, ceiling, basement, roof, wall, etc.),figure out the MOST LIKELY ways they […]
