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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Symptom vs Disease

Say you have a thorn in your foot. You’re in extreme pain and go to see your doctor. After you’ve made it through the waiting room, checking your height and weight, and having the nurse take your vitals, you’re finally ready to see the doctor. The doctor walks in to see the thorn in your …

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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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