Failure to upgrade your computer system to Windows 10 will compromise your security. Windows 7 is officially not receiving any more security updates as of January 14, 2020. The need to upgrade to Windows 10 has become increasingly more dire. Upgrading your current system is not as difficult as it was with previous versions. In […]
Our CAMS experts have put together a comprehensive compliance checklist to help you stay on track and stay up-to-date with current BSA regulations. Rules and regulations are constantly changing in the Money Services Business industry. It is your responsibility to update your BSA/AML/OFAC Compliance Program to reflect these changes and any other modifications in your […]
The Financial Crimes Enforcement Network (FinCEN) has released an advisory concerning Unemployment Insurance (UI) fraud related to the COVID-19 pandemic. Money Services Businesses (MSBs) must be aware of different types of potential fraud, red flags to look for and how to file a Suspicious Activity Report (SAR) accordingly. FRAUD During the COVID-19 pandemic, UI claims […]
FinCEN released a series of advisories about financial crimes related to the COVID-19 pandemic. Money services businesses (MSBs) are especially vulnerable to financial crime during this uncertain time. The purpose of the series of advisories is to reinforce that: “Detecting, preventing, and reporting COVID-19 related scams and illicit activity is critical to our national security, […]
By now, everyone in the financial services industry should be familiar with what an Anti-Money Laundering (AML) Compliance Program is and its purpose. There is one very important aspect of an AML compliance program that is often overlooked, which is implementing an ongoing training program for any and all employees conducting money service transactions in […]
