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FinCEN reissues real estate Geographic Targeting Orders

Abrigo

While title insurance companies are required to collect and report data on covered transactions, regulators expect financial institutions to have procedures in place to detect these transactions. keep me informed. BSA Rules and Regulation. BSA Rules and Regulation. BSA Rules and Regulation. Customer Due Diligence.

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Merchants Ready For Open Banking — And Its New Laws — To Impact US Rollout

PYMNTS

the Federal Reserve Bank of Boston said, “To date, U.S. regulators have taken a more hands-off approach by issuing non-binding guidelines, thus allowing industry stakeholders to pave the way forward. It’s part of that “stand back” posture the Boston Fed noted in its March brief. isn’t in the lead here, which is okay.

US 171
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Buying into AML risks in real estate

Abrigo

Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. The limited regulation around the real estate industry has made it especially easy for these bad actors to cycle their dirty money into the financial system using this avenue.

El Paso 195
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FinCEN Reissues Real Estate Geographic Targeting Orders: What does this mean for you?

Abrigo

Previous GTOs have provided valuable information to law enforcement by following the funds used for various criminal activities, including foreign corruption, organized crime , and drug trafficking. BSA Rules and Regulation. BSA Rules and Regulation. The GTO require s U.S. What does this GTO mean for your institution?

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AI and generative AI use cases in banking: 6 real-world examples

Abrigo

Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. But Boston Consulting Group (BCG) says generative AI serves a fundamentally different purpose than predictive AI, which is the powerful tool with which many financial institutions are already familiar.

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Santander Adds Three Lending Executives

PYMNTS

Smith is new to the bank and will be based in Boston, overseeing the strategic direction, product pricing and portfolio management of the Small Business Banking division, Santander stated in the announcement. in Information Technology Management from the University of Virginia, according to Santander. Smith holds a B.S.

Lending 160
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Opacity vs. Transparency at the Federal Reserve Stress Testing Conference

Abrigo

Last week, the Federal Reserve hosted a stress testing conference in Boston, MA. The conference brought together regulators, bankers, economists, and others to discuss the most important annual check on the stability of the banking system. This success paves the way for increased capital distributions.