Remove Blog Remove Community Remove National Remove Risk Management
article thumbnail

CRE risk management: Navigating hazards and opportunities

Abrigo

Stress testing, monitoring are essential Financial institutions should challenge assumptions about CRE risk while also watching for red flags as they manage the CRE portfolio. WATCH Takeaway 1 Banks and credit unions are critical sources of capital for businesses in their communities, so how institutions assess CRE credits matters.

article thumbnail

Safeguarding new banking products from fraud

Abrigo

Takeaway 2 Examiners' focus is on risk management related to products and services , especially those involving complex technologies like AI. First, they must evaluate whether their institution is prepared to insert AML risk management procedures into the transaction process to match the speed FedNow can offer.

Fraud 221
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Elder Abuse Awareness Day 2022: Red Flags for BSA/AML Staff

Abrigo

World Elder Abuse Awareness Day is an international United Nations observance day commemorated each June 15 by most countries around the globe. Elder abuse and elder financial exploitation (EFE) are growing concerns in our families and communities, especially as the baby boomer generation hits their senior years. Need to Know.

Training 195
article thumbnail

How to reduce the regulatory burden on community banks

Abrigo

In recent months, the momentum around reducing the regulatory burden on the nation’s community banks has continued to gain steam. However, the regulatory landscape continues to evolve, leaving resource-constrained community banks to cope with new demands. The second idea is community bank exemption from the Volcker Rule.

article thumbnail

FinCEN AML/CTF Priorities Part 3: Terrorist Financing

Abrigo

As part of the Financial Crimes Enforcement Network’s (FinCEN) first national priorities list for anti-money laundering and countering the financing of terrorism (AML/CFT) policies, one important priority continues to be detecting, reporting, and preventing terrorist financing. See Part I: Implications for Community Financial Institutions.

Training 195
article thumbnail

The true cost of fraud

Abrigo

While some of the recent trending fraud schemes are not new, they have been transformed to prey on communities already dealing with unprecedented times. According to PWC , rising prices can have substantial implications on fraud risks. The downturn in the economy has undoubtedly affected fraud statistics as well.

Fraud 195
article thumbnail

Remembering 9/11 – A Pivotal Day for BSA/AML Professionals

Abrigo

See Part I: Implications for Community Financial Institutions. October 26 is now nationally recognized as BSA/AML Day.) The importantance of the BSA tole came to be paramount to the entrie risk management program and included as part of the federal safety and soundness examinations. Criminalizing Terroism Financing.

Training 195