Michelle N. Martin - ComplianceAid Website

REG GG: UNLAWFUL INTERNET GAMBLING ENFORCEMENT ACT

March 26, 2010Michelle N. MartinRegulatory Compliance

The Department of Treasury and the Federal Reserve Board have finalized Regulation GG, to implement the Unlawful Internet Gambling Enforcement Act of 2006. The law requires financial institutions that provide services to commercial customers, such as ACH clearing, check clearing or wire transfers establish and implement policies and procedures that are reasonably designed to prevent...

MT 202 COV PAYMENT

January 25, 2010Michelle N. MartinRegulatory Compliance

WHAT IS MT 202 COV PAYMENT???? New SWIFT Message Format went live on November 21, 2009. In October 2007 there was a recommendation (guidance) from the Basel Committee on Banking Supervision in reference to MT COV 202. Wolfsberg Group and the Clearinghouse issued the Messaging Standards to enhance the transparency of payment messages. Banks are...

Regulation CC – Expedited Funds Availability Act

October 4, 2009Michelle N. MartinRegulatory Compliance

Purpose The purpose of Regulation CC is to standardize and limit the hold periods placed on checks deposited to transaction accounts, and to ensure the adequate disclosure of funds availability policies to customers. Summary/Requirements Next-Day Availability Deposits of the following items to a transaction account must be made available for withdrawal no later than the...

Is your Financial Institution OFAC Compliant?

May 17, 2009Michelle N. MartinOFAC

The Office of Foreign Assets Control (OFAC) administers a series of laws that impose economic sanctions against hostile targets to further U.S. foreign policy and national security objectives. US Sanctions are a collection of United States laws, which prohibit US Persons from conducting trade and financial transactions with certain countries, individuals and entities. There are...

ACAMS South Florida Chapter celebrates its first anniversary and welcomes new board ACAMS Today (March & April 2009)

April 25, 2009Michelle N. MartinNews Clipping

ACAMS South Florida Chapter celebrate first anniversary and welcome a new board.

January 15, 2009Michelle N. MartinNews Clipping

On January 24th 2009, South Florida chapter held its first Installation Reception (sponsored by Republic Federal & The Sports Club / LA). ACAMS Today took this opportunity to discuss the achievement of this initial year of operation with the Founding Co-chairs Michelle N. Martin and Carlos A. Nunez-Vivas. “We have been a very active association...

Michelle N. Martin ACAMS South Florida Chapter End of Year – ACAMS Today (November & December 2008)

December 17, 2008Michelle N. MartinNews Clipping

FACT Act – Identity Theft Red Flags & Address Discrepancies

October 26, 2008Michelle N. MartinRegulatory Compliance

ARE YOU READY FOR NOVEMBER 1ST, 2008 The OCC, Board, FDIC, OTS, NCUA and FTC (the Agencies) are jointly issuing final rules and guidelines implementing section 114 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) and final rules implementing section 315 of the FACT Act. The final rules require each financial...

ACAMS SOUTH FLORIDA CHAPTER

August 19, 2008Michelle N. MartinACAMS

The ACAMS South Florida Chapter holds monthly networking events. Please join the members of the board for the Chapter’s monthly social event on Wednesday, August 27th from 6:00 to 9:00pm @ Badrutt's Place, 1250 South Miami Ave., Brickell; 305-415-0070; www.badrutts-place.com. The event is free of charge and you will be able to meet with current...

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

August 19, 2008Michelle N. MartinAML 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 practice of generating funds through illegal actions. In most instances money launderers hide their actions...

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