Capital One fined $390MM for failing to report activity tied to money laundering and organized crime

Lessons from Capital One – BSA: Cost Center or Gatekeeper?

In a recent announcement released by the Financial Crime Enforcement Network (FinCEN), Capital One is being fined $390 million for failing to properly identify, evaluate, and report on suspicious activity for a major money services business. What Is BSA? The Bank Secrecy Act, or BSA, is a piece of legislation that was passed by Congress …

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Author

My name is Justin Davis, and I am an expert in fraud prevention, strategy, and execution. I am considered an industry leader in identity fraud and have experience in leading fraud strategy at Fortune 500 companies as well as national credit unions. Currently I am a Fraud Consultant for Point Predictive where I work to drive innovation in the auto and mortgage lending industry.

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