by LMS | Feb 25, 2021 | BSA Training
The newest of the 5 pillars of a good BSA/AML program is Customer Due Diligence (CDD). While this pillar was always implied, it had been part of the Internal Controls. FinCEN wanted to clarify and strengthen the current Customer Due Diligence (CDD) guidelines, so they...
by LMS | Sep 9, 2020 | BSA Training
Human trafficking can be separated into three categories: human trafficking for labor, sex and organ removal. I plan to focus on sex trafficking in this article and how social media is used in this arena. Let me start by saying that 1 in 5 victims are children and...
by LMS | Jul 28, 2020 | BSA Training
The reporting of suspicious activity is the single most important tool of the Bank Secrecy Act that a financial institution can use. All suspicious activity reports are submitted electronically through the FinCEN website from all over the United States. This gives law...
