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FinCEN AML/CTF Priorities Part 6: Transnational Organized Crime (TOC)

Abrigo

in 2001 began outlining strategies to combat transnational organized crime. Crime proceeds linked primarily to the national sector such as fraud, burglaries, theft, robberies, loan sharking or protection racketeering were not included in these estimates.”. A Focus Since 2001. Takeaway 2 The U.S.

Training 195
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In Praise Of The Selfie And The Commerce It Drives

PYMNTS

National Selfie Day has passed into the history books once again. The founding hero of National Selfie Day — not that he receives his full recognition among the selfie masses — is a U.S. lamp manufacturer and early photography enthusiast named Robert Cornelius.

National 130
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CFPB Cracks Down On Deceptive Lender Who Targeted 9/11 First Responders

PYMNTS

The consumers included former National Football League players suffering from neurological disorders, victims of the Deepwater Horizon oil rig disaster and 9/11 first responders. 11, 2001 World Trade Center attack who were entitled to payments from the Victim Compensation Fund as part of the James Zadroga 9/11 Health and Compensation Act.

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Kleptocracy & Foreign Public Corruption: New FinCEN Red Flags

Abrigo

The Financial Crimes Enforcement Network ( FinCEN ) has profiled this global issue by naming corruption one of the eight national security priorities. Securities and Exchange Commission launched investigations into political corruption and started legislative efforts to thwart such acts. 11, 2001, terrorist attacks.

Training 195
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A Decline in Personal Savings

TrustBank

By the 1990’s, improvements in technology and further changes to securities regulations made it easier for corporate customers to access financial markets directly. This forced banks to renew their focus on middle market commercial banking and consumers. Recall the NINJA loans (No Income, No Job, Apply).

US 52
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Will "Plain Vanilla" Kill Community Banking?

Jeff For Banks

Most recently Valley National Bancorp''s highly respected CEO, Gerald Lipkin stated: "The positive [fourth quarter] results are attributable to management''s common sense and highly focused approach to traditional banking — gathering deposits and making relatively low-risk loans." ? Valley National had an ROA in the fourth quarter of 1.08%.

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Anullment procedure for the EU version of the FATF Travel rule: Q&A

Money and Payments

If feasible, also encryption or other techniques should be applied to achieve an appropriate level of security and data minimisation. The story for financial institutions after 9/11/2001 was simple. What is the risk of this regulation? Wasn't the constitutionality of this rule checked in the impact assessment of the EU?