Financial Crime

Firms’ compliance functions at inflection point, shows 2020 Cost of Compliance Report

Without question, compliance functions for financial services firms around the world have matured in the decade since the financial crisis, with many firms enhancing their…

Susannah Hammond May 14, 2020

Disaster fraud: Government warns COVID-19 is the perfect storm for scammers

Disaster fraud, a deliberate act to defraud individuals or the government after a catastrophe, has become an imminent problem during the COVID-19 crisis, creating a…

Gina Jurva May 07, 2020

As government relaxes healthcare provider requirements due to COVID-19, will fraud risk increase?

The federal government has begun relaxing its healthcare provider requirements in order to provide increased flexibility for healthcare providers and facilities during the COVID-19 public…

Melissa D. Berry May 06, 2020

Will COVID-19 Make Cash Obsolete?

Is the COVID-19 pandemic more quickly moving the world to a cashless society? One where almost all financial transactions are not conducted with physical banknotes…

Gina Jurva April 20, 2020

Making Amends: Auditing Ongoing Suspicious Activity Report Filings for Financial Institutions

In the myriad of Suspicious Activity Report (SAR) requirements, there are perennial findings that reflect the failure to file, delays in filing, and deliberate efforts…

Michael Schidlow April 03, 2020

2020 Government Fraud, Waste & Abuse Report: How Prepared Are We?

How confident are state and local government employees in their ability to combat fraud, waste, and abuse? To find out, Thomson Reuters surveyed 87 professionals…

Tad Simons April 01, 2020

What Financial Institutions Need to Know about the Market Crisis & Ponzi Schemes

Just like May flowers follow April showers, Ponzi schemes implosions often will follow a market crisis. The last example of this phenomenon was the 2008…

Alison Jimenez March 23, 2020

ACAMS: Preventing Terrorist Financing via Art, Antiquities & Oil

Terrorists can finance their operations in any number of ways — drug trafficking, smuggling (oil, pharmaceuticals, antiquities), counterfeiting, fraud, theft, kidnapping, and extortion. They’re also…

Tad Simons March 05, 2020

Managing Cyber-Risks in Service Provider & Vendor Relationships: Building a Sustainable Process

Assessing and managing cyber-risks are difficult, and the challenge only increases when third-party service provider and vendor relationships are involved. Such relationships often require organizations…

Legal Executive Institute March 02, 2020

To Pay or Not to Pay: Managing Government Risk in the Age of Ransomware Attacks

 We’ve all heard the horror stories of ransomware attacks seizing up government systems and vital records such as in the recent Robinhood cyber-ambush where hackers…

Gina Jurva February 26, 2020

Making Heads or Tails of the California Consumer Privacy Act

Many believed and hoped the California Consumer Privacy Act (CCPA), which went into effect January 1, 2020, would be a saving grace piece of legislation…

Daniel Garrie February 26, 2020

LegalWeek 2020: Leveraging AI to Combat Financial Crimes

NEW YORK — With increasing data flow among global financial institutions expanding, compounded by newly minted hybrid financial organizations in FinTech, managing these highly regulated…

Joseph Raczynski February 11, 2020