Banker's Compliance Consulting Blog

Customer Due Diligence/Beneficial Owners: Updating Customer Information

The Customer Due Diligence (CDD) and Beneficial Owner (BO) requirements are not a one and done. In...

Crypto/Virtual Currency: Pros & Cons

When it comes to crypto and/or virtual currency, there are pros and cons. One pro is that users can...

Corporate Transparency Act Update: Legal Rollercoaster for Banks

For bank compliance professionals, staying up to date on the Corporate Transparency Act (CTA) has...

Corporate Transparency Act Enforcement Update

The enforcement landscape surrounding the Corporate Transparency Act (CTA) has taken another sharp...

Deepfake Media Fraud Schemes

Artificial intelligence (AI) is a hot topic right now and while it is very useful in certain...

Breaking News: Beneficial Owner

We have some breaking news regarding the attempts to modernize the beneficial ownership rules. You...

Top Violations: TISA Consistent Terminology

One violation that our Review Team finds pretty consistently is the Truth in Savings Act (...

Top BSA Violations: CIP

At our Virtual BSA/AML Conference in November, there was a session on “Top BSA / AML Violations &...

Components of a Money Laundering Scheme

The Bank Secrecy Act was implemented to help detect and prevent money laundering and terrorist...

RESPA Section 8: Digital Marketing Comparison Platforms

Back in February 2023, the CFPB issued an Advisory Opinion to alert institutions to the...