iS4B Breaking-down the Inter-agency Statement on Enforcement of BSA/AML Requirements

On August 13, 2020, the Board of Governors of the Federal Reserve System (FRB), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA) issued a joint statement on “Enforcement of Bank Secrecy Act/Anti-Money Laundering Requirements”. This statement supersedes the original inter-agency statement on the subject issued in July 2007. A Long Time Coming … It is interesting to note that it took these Agencies 13 years to issue a clarification on the original statement and to set forth general policy guidelines. In particular, the statement says that it is intended to clarify the Agencies’ enforcement

ComplianceAid Advisory Services Appoints Vincent Raniere, Founder & CEO, iSoftware4Banks, to its BOD

iSoftware4Banks, Inc. (iS4B) is pleased to announce the appointment of Mr. Vincent Raniere to the ComplianceAid Advisory Services, Inc. (CAAS) Board of Directors. CAAS is an international consulting firm which provides bespoke, reliable and confidential advice to public and private sector clients in many of the two hundred and eight (208) countries and territories comprising the global Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) network, and covers Africa, Asia Pacific Region, the Caribbean, across the Americas, United States, Canada, United Kingdom, Europe and the Middle East. Mr. Raniere, CEO and Founder of iS4B, comments: “I’m extremely excited to join the

The Ghost of Monies Future

The COVID-19 pandemic has changed our personal and professional lives. We now need to rethink and consider how, where and when we will take actions in our daily lives. The pandemic has affected how we conduct business for ourselves and on behalf of and for our respective companies Currency Shortage Challenges and Opportunities Recently there has been several articles highlighting the challenges and opportunities that pandemic has posed. One talks about an interesting and challenging issue of a currency shortage brought about by the lack of spending and the decline in the use of cash caused by the COVID-19 crisis. The other looks at a new type of currency that is gaining more recognition and

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