Archive | AML BSA RSS feed for this section

What is the Customer Identification Program (CIP)?

According to the USA Patriot Act (federal law), all financial institutions must obtain, verify and record information that identifies each person who opens an account. Thus, know the identity of individuals wishing to conduct financial transactions. The Act requires financial … Continue reading

Leave a comment Continue Reading →

ANTI-MONEY LAUNDERING (AML) – BANK SECRECY ACT (BSA)

Anti-money laundering guidelines came into place worldwide as a result of the September 11, 2001 attacks and the subsequent enactment of the USA PATRIOT Act. WHAT IS ANTI-MONEY LAUNDERING? A set of procedures, laws or regulations designed to prevent the … Continue reading

Leave a comment Continue Reading →

Welcome to our AML/TF Blog

This blog aims to provide reliable updates within the AML/BSA field with a specific focus on information that can advance the professional knowledge, skills and experience of those dedicated to the detection and prevention of international money laundering. I intend … Continue reading

2 Comments Continue Reading →
s2Member®