The Top 5 Posts of 2016

2016 is just about gone, but there’s still just enough time to look back and see where we’ve been. Here’s a look back at the top 5 most popular blog posts of 2016.

1. FinCEN’s Top 3 Money Laundering Concerns

The fight against money laundering and terrorist financing in the U.S. is an ongoing and evolving battle. That’s why every year FinCEN produces a new National Money Laundering Risk Assessment from the Department of the Treasury. In an analysis of more than 5,000 law enforcement cases and financial reports from both the private and government sectors, the 2015 Risk Assessment exposes trouble spots and emerging trends all financial institutions should analyze… Continue reading.


2. Fair Lending Model Validation: Strengthening Your Fair Lending System

Many institutions are using fair lending models tasked with evaluating an organization’s decisioning and pricing relative to the prohibited factors, such as race, gender, religion, age, etc. However, are these models working correctly and doing what they were designed to do? Assuming the answer is yes could be a costly mistake. The most effective way to be sure is with a fair lending model validation… Read more.


3. The Secret BSA/AML Weapons of Smaller Financial Institutions (Parts 1 & 2)

The ever-increasing importance of a robust BSA/AML monitoring system has become more than clear in recent years. However, an all-encompassing monitoring system often feels beyond the reach of the smaller financial institution. Resources are finite, and some institutions are left floundering when attempting to cover all their bases. What must your small financial institution do to determine whether its BSA/AML monitoring system is as sound as those applied by their far larger counterparts? This two-part blog post breaks down two essential elements that smaller financials must have in their BSA/AML monitoring systems… Read part 1 here and part 2 here.


4. Hey Batter Batter, Swing! Good Training Practices for AML Monitoring

Spring training for Major League Baseball is long over, the regular season is winding down, and playoffs will soon be upon us. Over the course of a long season, the teams that spent their time during spring training actually training and preparing frequently find that it makes the difference between being a playoff contender and an also-ran. In a similar fashion, efforts to thoroughly validate an anti-money laundering system can pay off in the long run. How do you achieve a strong AML system? Here are four areas to work on to get you closer to post-season form. Read more.


5. The Look-Back Project: An AML Marathon

The annual New York City Marathon is just a little over two weeks away. If you’re planning on running in it, you hopefully began training many months ago. Unless you’ve got some superhuman characteristics, the average person can’t simply run a marathon on a whim, without any training. However, if information comes to light that indicates your financial institution has some holes in its AML monitoring process and may have missed some suspicious transactions, you could suddenly be feeling like you have to run a spur-of-the-moment marathon: the dreaded look-back project… Continue reading.