Fraud

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

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

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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Unemployment Fraud 2: Electric Boogaloo

Unemployment

By now everyone is sick of hearing about COVID. And honestly just putting the letters C-O-V-I-D into this post will most likely tank any SEO. The virus has ravaged families, businesses, governments, and countries alike. In March, President Trump signed the CARES Act into law which was meant to bring relief to US citizens. But …

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Competitive Advantage – Redefining Fraud Prevention

com·pet·i·tive ad·van·tage a condition or circumstance that puts a company in a favorable or superior business position Competitive advantage is what differentiates businesses and industries. It’s what separates and determines success. Products, business models, marketing, or sales strategy. But what about in the context of fraud prevention? When I think of competitive advantage, I think …

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