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

Abrigo

When the Financial Crimes Enforcement Network (FinCEN)’s released its inaugural national priorities list for policy related to anti-money laundering and countering the financing of terrorism (AML/CFT), one of the eight priorities included on the list was transnational organized crime (TOC). trillion in 2009 or 3.6%

Training 195
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Catching Criminals Difficult Due To Spread Of Government Cyber Tools

PYMNTS

Sophisticated government spying tools are spreading like wildfire in the underground criminal market. Symantec Security, a leading security research firm, raised this concern in a recent blog post. Surprisingly, the hacker flew under the watchful radar of security analysts for years.

Tools 116
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AIG Predicts Cyber Insurance From Firms In Greater China Will Skyrocket

PYMNTS

The executive, using statistics from Hong Kong Police, told Reuters that the number of cybersecurity incident reports have jumped to 6,000 in 2016 from 1,500 back in 2009. Interpol had estimated at the time that more than 100,000 organizations across 150 nations had been hit by the cyberattack. billion in the same time period.

National 122
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Deep Dive: An Automated Approach To The $2T Global Money Laundering Problem

PYMNTS

Approximately 2 percent to 5 percent of the world’s gross domestic product (GDP) – $800 billion to $2 trillion – is laundered each year, according to a report from the United Nations Office on Drugs and Crime (UNODC). Rethinking Security Strategies . Financial and Ethical Security Strategies.

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Community Bank History: Peoples National Bank, Hallstead, Pennsylvania

Jeff For Banks

Community banks tout themselves as better than national and regional banks because of how close they are to their communities. A case in point: the First National Bank of Hallstead… now Peoples National Bank (see photo). The bank closed during the national bank holiday that was ordered by President Roosevelt in 1933.

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Bank Customers Lose Real Money

Jeff For Banks

You've been conservative, preferring the stability and security of bank deposits versus the gyrations of the market. Sure, your home value declined, but what does that mean to someone with little to no mortgage and isn't in the market to sell? Forcing savers into equities, which has driven markets up. Taxes go down?

Taxes 78
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Russian Credit Health Keeps Rising

FICO

Just as millions of Americans check their FICO Scores to see how their credit is doing, FICO and the National Bureau of Credit Histories (NBKI), Russia’s leading credit bureau, keep tabs on the health of Russian consumers. The base was set at 100 in July 2009, and it climbed until the end of October 2011.