The FTC says that consumers were hit with one-time charges of $10 or less, and then their payments were routed through fake corporations to Eastern European and Central Asia bank accounts.
With a steep growth in fraud committed by employees - identifying and stopping it is a primary objective for internal audit, compliance managers and fraud prevention departments. Technology can make fraud detection, documentation and prevention more efficient and effective for these stakeholders.
Pivotal to...
Before the new $100 bill arrives at financial institutions in Feb. 2011, compliance officers are warned to be on the watch for criminals laundering the old $100 bills, says a money laundering expert.
Trade-based money laundering and electronic cash are two of the key topics that banking/security leaders should review in the FFIEC's newly revised Bank Secrecy Act and Anti-Money Laundering Examination Manual, according to anti-money laundering experts.
A review of the top news items you should be paying attention to this week, including:
Exclusive interview with former federal prosecutor Kim Peretti;
FFIEC issues revised AML/BSA exam guideline;
How to respond to vishing attacks.
Be sure to listen to this overview, and check out all of the week's news and...
The Federal Financial Institutions Examination Council (FFIEC) has released a revised Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual, including updates to several sections.
An Australian man, arrested in Las Vegas on money laundering charges, is suspected of processing more than $500 million in proceeds for U.S. gamblers and Internet gambling websites.
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