Past Issues | Subscribe | ABA Bank Compliance magazine | ABA Banking Journal | |||||||||||||||||
November 11, 2022 |
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Features
The value of ransomware-related BSA filings in 2021 approached $1.2 billion—a 188% increase compared to the previous year.
Adopters of open banking can more effectively harden their security stance against future attacks, protect their data and customers with a holistic approach to API.
Risk and Compliance News
The Financial Action Task Force has updated its lists of jurisdictions with strategic AML/CFT/CPF deficiencies, according to the Financial Crimes Enforcement Network.
The Small Business Administration is proposing to lift the moratorium on the number of nondepository institutions—called small business lending companies—that may make loans under SBA’s Section 7(a) program, and to create a new type of SBLC called mission-based SBLCs.
The illicit finance risks posed by digital assets can be most effectively managed by regulating nonbank cryptocurrency companies while allowing banks to engage more fully in digital asset activities, where they will be subject to comprehensive regulation and Bank Secrecy Act requirements, ABA said in a letter to the U.S. Treasury Department.
Training
November 14 November 22 December 5 - 7 December 15 January 19, 2023 |
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