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

Abrigo

Takeaway 3 Anti-Money Laundering and Fraud monitoring software can help combat this serious crime. Prize/Lottery Scammers coerce their victims to send an "import tax" or "fee" to receive the money they supposedly won in a lottery. . Fraud Prevention. Fraud Trends. Get the latest information from FinCEN. BSA Training.

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Is Your Financial Institution Aware of These PPP Red Flags?

Abrigo

Key Takeaways Economic relief payments are often subject to fraud – PPP is no exception. BSA Officers should be aware of PPP red flags to identify potential fraud. Economic relief payments are often subject to fraud, and the Paycheck Protection Program (PPP) is no exception. Other PPP Fraud Indicators. C&I Loans.

Fraud 150
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Conducting an exam-proof AML/CFT risk assessment for credit unions

Abrigo

Step two Identify inherent risk vs. residual risk Inherent risk is any activity or factor posed to the credit union, notwithstanding applying any management or risk mitigation tools. This example is a situation with a "high" inherent risk and "strong" mitigating controls. If so, how is this monitored?

Fraud 195
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How to Conduct an Exam-Proof BSA/AML Risk Assessment

Abrigo

Inherent risk is any activity or factor posed to the financial institution, notwithstanding applying any management or risk mitigation tools. After adjusting the inherent risk for the institution’s risk management controls, residual risk represents the bank or credit union’s current risk.

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What are opportunities for accountants to provide advisory services?

Abrigo

Accounting, audit and tax services are unlikely to be the growth engines of the accounting profession in the coming years. The weeks and months following the end of tax and audit seasons represent an excellent time for firm leaders to take stock of their accounting practices and the services clients may need.

Exercises 150
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Siron Financial Crime Solutions Are Moving from FICO to IMTF

FICO

The suite includes SironAML (Anti Money Laundering), SironKYC (Know Your Customer), SironEMBARGO (Sanctions Screening) and SironTCR (Tax Compliance) with associated case management and reporting. chevron_left Blog Home. Siron Financial Crime Solutions Are Moving from FICO to IMTF. FICO Admin. Tue, 07/02/2019 - 02:45.

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How to increase efficiency and minimize risk in the audit process using analytics

Abrigo

Since leaving public accounting, she has been an internal auditor, a tax preparer and a controller. According to a 2014 report by Cornerstone Research, allegations of accounting fraud surged 47 percent in securities class actions lawsuits in 2013. AI will not replace your job, or your need to be vigilant in risk mitigation.

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