Money Laundering

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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Scratching The Surface – Synthetic Identity fraud

Synthetic Identity Fraud. The biggest buzzword right now in the world of financial crime. But what is it? Over the last few years I have delivered several presentations around synthetics and each time I ask two questions: Who in the room has ever heard of synthetic identity fraud? Of those, who can define it? Luckily …

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