articles how-are-banks-automating-or-failing-to-automate 
Abrigo
DECEMBER 20, 2021
Would you like other articles like this in your inbox? On December 16, 2021, FinCEN announced an $8 million civil money penalty against CommunityBank of Texas (CBOT) for willful Bank Secrecy Act (BSA) violations and failing to maintain an effective anti-money laundering (AML) program. Fundamentals of BSA.
South State Correspondent
MARCH 7, 2022
As the pace of banking innovation speeds up, the OODA Loop, and its supporting concepts, can help a bank’s management team have a common framework to make decisions faster and more effectively. In this article, we highlight the framework and show its power. The History of the OODA Loop.
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Abrigo
JUNE 8, 2021
Would you like others articles like this in your inbox? Takeaway 3 There are a lot of things financial institutions can glean from Deutsch Bank's violations and the OFAC Framework. . DBTCA agreed to remit $425,600 for processing 61 payments destined for accounts at Krayinvest Bank, a designated entity on the OFAC sanctions list.
Abrigo
MARCH 11, 2022
What does this mean for the current regulatory focus for non-bank financial institutions (NBFIs)? What does this mean for the current regulatory focus for non-bank financial institutions (NBFIs)? An NBFI AML program can be lighter than a full-service traditional bank or credit union program. Regulatory Focuses in 2022.
Abrigo
MARCH 7, 2022
If your institution does not have automated OFAC scanning, now may be the time to invest in reputable software. According to the panel, financial institutions should be prepared to answer the "how are you planning" questions during their 2022 exams. 2022 Regulatory Focus. Anticipating change in the anti-money laundering industry.
Abrigo
APRIL 22, 2024
Recent dynamics of the small business lending market A deep understanding of the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.
FICO
MARCH 10, 2022
One of the most interesting takeaways for me is that banks have an opportunity for proactive, personalized customer communication, in the channel of their choice, to provide fraud detection and fraud prevention, as well as to manage fraud cases so that they can be bought to a conclusion more quickly and with a better customer experience.
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