Risk and Compliance CLE & CPE

The landscape of Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations is ever-evolving. As we approach 2024, it becomes imperative for professionals in the financial sector to equip themselves with effective strategies for navigating the ongoing challenges.

Cryptocurrency markets experienced a series of disastrous setbacks in 2022 which resulted in significant losses This great turmoil underscores the volatility risks in the crypto landscape. Regulators are also ramping up its enforcement efforts to protect consumers and address increasing illicit activities. As an aggressive government crackdown is anticipated in the coming months, industry participants must keep an eye on emerging developments to avoid legal pitfalls.

The need for banks and other financial institutions to design their Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance program is paramount to mitigate financing risks and, most importantly, ensure conformity with the heightening BSA/AML regulations. Adopting a risk-based approach that focuses on detection and mitigation measures from potential illicit financial transactions is at the core to avoid hefty fines and legal liabilities. Moreover, banks and financial institutions must keep themselves abreast with emerging regulatory developments to avoid pitfalls.

The Department of Justice Antitrust Division recently announced notable substantive updates to its Corporate Leniency Program which signals heightened crackdown on antitrust violators.

In this LIVE Webcast, a panel of thought leaders and professionals brought together by The Knowledge Group will provide and present an in-depth analysis of the fundamentals as well as recent developments in FINRA’s 2022 Priorities: Significant Changes and Emerging Issues Affecting Your Compliance Program. Speakers will also present all important issues surrounding this significant topic. Join us for this Knowledge Group Webinar!

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) continues to administer and enforce strict scrutiny on U.S. and non-U.S. companies. Several settlement agreements have been noted in the past months that signal the broad reach of U.S. sanctions regulations.

The growing market participation in digital asset transactions further drives governmental scrutiny, particularly in anti-money laundering enforcement involving cryptocurrencies.

The Financial Crime Enforcement Network (FinCEN) is continuously expanding its efforts to streamline, modernize, and update anti-money laundering (AML) and anti-terrorism financing regulations.

With supply chain disruptions, rapidly changing compliance regulations, and rising demands for food quality, today’s food and beverage (F&B) industry must be more agile and innovative than ever before. These manufacturing challenges emphasize the importance of leveraging Enterprise Resource Planning (ERP) technology

As digital assets and distributed ledger technologies continue to develop, cybercrimes involving cryptocurrencies also worsen. From email phishing to ransomware, hackers have shifted their attacks into more pervasive and malicious forms breaking even the most sophisticated security systems. Thus, the DOJ, together with the National Cryptocurrency Enforcement Team (NCET)

In response to a prevailing view that the US was becoming a haven for money laundering, as well as emerging risks posed by advances in financial technology and the advent of virtual currencies,

Staying compliant with the evolving regulatory landscape of Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA) has always been challenging. With the passage of the National Defense Authorization Act (NDAA) for the fiscal year 2021, increased scrutiny and heightened penalties are expected. Amidst these changes, financial institutions also grapple with imminent credit and liquidity risks which, if not mitigated, could significantly affect operations and revenue.

As the world grapples with the unprecedented economic disruptions brought by the Coronavirus Disease 2019 (COVID-19) pandemic, multinational enterprises (MNEs) in the U.S. and Canada are confronted by the added challenge of maintaining transfer pricing compliance. Most businesses are now forced to adjust their transfer prices, analysis, and documentation and revisit their force majeure clauses to look for alternative means of fulfilling their contract obligations. Thus, creating a profound strain on the operations of MNEs.

In May 2019, the US Treasury Department’s Office of Foreign Assets Control (OFAC) published a framework for OFAC compliance. The core elements of the guidance are aimed at creating a tailored risk-based strategy to ensure sanctions compliance across an organization. It also outlines five components of a compliance program and it includes an appendix identifying the root causes of compliance breakdowns and deficiencies. To mitigate risks, it is imperative for companies to assess the adequacy of their OFAC compliance programs and to tailor them to target risks relevant to the business.