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The FFETF

Who is the Financial Fraud Enforcement Task Force (FFETF)? The FFETF was established by president Obama in 2009 to hold accountable the individuals and groups that were responsible for the latest financial crisis and...

Looking Ahead

With all of the conversation surrounding the BSA enforcement issues with respect to virtual currencies like Bitcoin and others, I found this article posted on www.philly.com to be very interesting and sheds some light...

Internal Reports

What tools do your employees have to report suspicious activity? When I am out and about conducting BSA independent tests for credit unions, I often look to see if they have a confidential method...

Do you share?

FinCEN released an update to promote financial institutions utilizing sharing through Section 314(b) of the PATRIOT Act. The update contained a fact sheet that provides information on what Section 314(b) is and some of...

All about the Benjamins

After years of suspense and several delays, the day is almost upon us. The new $100 bill is set to make its long awaited debut.   The new $100 note is scheduled to begin circulation...

Official Approval Required?

BSA risk assessments are an important piece of every credit union’s BSA program. Your risk assessment helps not only determine where your riskier areas are with respect to BSA, but also helps set the...

Something for your member newsletter

Credit unions truly care about their members, so here is a little something from FinCEN that would be great for your member newsletter. FinCEN issued an advisory on fraudulent correspondence and phone calls in...