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The Fifth AML Pillar – Ongoing Transaction Monitoring

The Fifth AML Pillar – Ongoing Transaction Monitoring

Posted by on May 19, 2016 in AML, Compliance Automation, FINCEN, Risk Rating | 0 comments

Written by Don Lee FINCEN published itsĀ final long awaited ‘Customer Due Diligence Rule‘ (CDD) for covered financial institutions on May 11, 2016. FINCEN states there are four elements of the CDD that must be explicit in AML procedures. These include: (1) customer identification and verification; (2) beneficial ownership identification and...

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Big Data, Broker Dealers and Regulators

Big Data, Broker Dealers and Regulators

Posted by on Dec 21, 2015 in AML, CCO Liability, Compliance Automation, Cost of Complaince, Risk Rating | 0 comments

Written by Don Lee In the recent Technology Tools for Today conference hosted by Investment News on November 2nd in Florida, Big Data was once again a topic among the financial community. The general consensus among the broker dealers present was “the additional uses of Big Data is likely to spur more attention from government and industry...

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