AML Regulations in NY Force CCOs to Rethink Everything
Earlier this month New York officials proposed new anti-money laundering regulations for financial institutions that fall under that state’s regulatory regime and supervision—which pretty much includes every major international bank in the world. Along with heightened demands for monitoring programs that detect money laundering red flags, the requirements seek to ...
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NICE Actimize launches AML cloud solution
NICE Actimize, a NICE Systems business and provider of financial crime, risk and compliance software for the financial services industry, announced the launch of its Actimize AML Essentials Anti-Money Laundering Cloud solution, providing end-to-end packaged AML compliance capabilities designed specifically for the unique needs of mid-sized financial institutions.
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Q&A: Perspective on New York’s New AML Requirements for CCOs
Image: Officials in New York have proposed a slate of new anti-money laundering regulations for financial institutions that fall under that state’s regulatory regime and supervision. It would require CCOs to submit annual certifications, with the threat of criminal liability for false or misleading statements, on the effectiveness of their ...
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News BriefFCA fines Monzo digital bank $28 million for AML, KYC failures
Britain’s Financial Conduct Authority has fined the online bank Monzo the equivalent of more than $28 million for failing to properly collect customer information and protect against financial crimes. The move is the latest in a series of efforts by British authorities to combat chronic money laundering and other crimes ...