The AdvisX blog.

The Ripple Effect

Learning From The Ripple Effect—Virtual Assets and Virtual Asset Service Providers I have always been fascinated by the ripple effect. Throw a stone, preferably large, into an otherwise calm body of water, and the result is striking. Circular waves move out evenly in all directions, rippling outward from the impact of the dropped stone. One [...]

By |2022-08-25T19:55:20+00:00August 25th, 2022|Bank Secrecy Act/Anti-Money Laundering, Blog, Compliance Tips|Comments Off on The Ripple Effect

AML Meets D&D: Subduing the Monster

80s Nostalgia and BSA/AML Image by Aakansha Trivedi via Wikipedia Watching Stranger Things (Netflix series in its 4th season) has added enjoyment for those of us who grew up during the time frame presented in the series. I’m especially fascinated by the references to D&D. For those who weren’t teenagers in the 80s, [...]

By |2022-08-18T00:35:21+00:00August 18th, 2022|Bank Secrecy Act/Anti-Money Laundering, Blog, Financial, Uncategorized|Comments Off on AML Meets D&D: Subduing the Monster

Fair Lending: Clearing the Fog

There are words, and then there are words. One of those words is proactive. While overused, the word has connotations that shouldn’t be dismissed—especially in the world of compliance. Last year, the FRB, in their 3rd Quarter Compliance Outlook (https://consumercomplianceoutlook.org/2020/third-issue/the-benefits-of-a-proactive-compliance-program) focused on the concept of proactive and discussed the FRAM automotive oil filter brand and [...]

By |2021-10-22T15:30:56+00:00June 1st, 2021|Blog, Compliance Tips|Comments Off on Fair Lending: Clearing the Fog

Phantom AML Alerts: Dealing with the Stuff of BSA Officers’ Nightmares

For many Bank Secrecy Act officers and their boards of directors, the thing that haunts their dreams most is their examiners finding some suspicious transactions that should have been investigated, but weren't. If such transactions are found, what typically follows are two questions along the lines of: Why weren't these transactions identified by the institution [...]

By |2020-02-11T18:18:39+00:00February 11th, 2020|Bank Secrecy Act/Anti-Money Laundering, Blog, Compliance Tips|Comments Off on Phantom AML Alerts: Dealing with the Stuff of BSA Officers’ Nightmares

Next Level Risk-Based Pricing is Coming: Beyond Decisioning and Pricing is Outcome Analysis

When economic times are good and funds are relatively easy to lend without meaningful short-term risk, most financial institutions find themselves in strong positions from a credit risk and earnings perspective. Yet, the tough lessons of lending and risk over the past 30 years have taught us many times over that economic cycles repeat. It’s [...]

By |2019-05-16T21:50:21+00:00November 7th, 2018|Blog, Compliance Tips|Comments Off on Next Level Risk-Based Pricing is Coming: Beyond Decisioning and Pricing is Outcome Analysis

Figuring Out What to Say and How to Say It to the Board of Directors is Like Balancing on a Bicycle

"Life is like riding a bicycle. To keep your balance, you must keep moving." -Albert Einstein Successfully riding a bike to get where you want to go requires patience, knowledge, and experience. Determining what to say to your board of directors is like learning how to balance on a bicycle. The “what to say” is [...]

By |2019-05-16T22:07:24+00:00February 5th, 2018|Blog, Compliance Tips|Comments Off on Figuring Out What to Say and How to Say It to the Board of Directors is Like Balancing on a Bicycle

Three BSA/AML Errors to Avoid

Bank Secrecy Act and Anti-money Laundering (BSA/AML) enforcement is shaping up to be a hot compliance topic this year. We've heard from the NCUA that one of its supervisory priorities for 2018 will be BSA compliance. There are also some big changes coming in just a few months with FinCEN's new customer due diligence and [...]

By |2019-05-16T22:13:37+00:00January 29th, 2018|Bank Secrecy Act/Anti-Money Laundering, Blog|Comments Off on Three BSA/AML Errors to Avoid

The Top 5 Posts of 2017

2017 is now gone, but it's always worth a look back to see where you’ve been. Here’s a look at the top 5 most popular AdvisX blog posts of 2017. 1. The Elephant in the Room: Fair Lending Regression Analysis We’ve all heard the expression, “how do you eat an elephant? One bite at a time.” [...]

By |2019-05-16T22:15:00+00:00January 2nd, 2018|Blog|Comments Off on The Top 5 Posts of 2017

Front-to-Back AML Validation: How to Envision What You May Be Missing

Originally published on CUInsight.com For those of us who experienced a partial loss of vision at a relatively young age, we likely remember the day that we learned we needed glasses. The process typically began with an elementary school teacher who noticed our permanent squint at the chalkboard. Before we knew it, we were sent [...]

By |2017-12-04T09:00:55+00:00December 4th, 2017|Blog|Comments Off on Front-to-Back AML Validation: How to Envision What You May Be Missing

AML System Assembly: Don't Ditch the Instruction Booklet

Whether it was a model airplane, some Legos, or a Swedish bookcase, odds are you've purchased something that requires some at-home assembly. What all these things have in common is the instruction booklet. Not all of these instruction booklets are created equal, however. Some are clear, precise and easy to follow, while others are so [...]

By |2017-11-13T09:00:32+00:00November 13th, 2017|Blog|Comments Off on AML System Assembly: Don't Ditch the Instruction Booklet
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