There is seemingly no better time to scheme and scam than in the midst of a pandemic. On May 18th, FinCEN released an advisory regarding the uptick in reported activity related specifically to fraudulent cure, vaccine, and testing services; non-delivery …
US Secret Service Releases Guidance on US Stimulus Check Features In conjunction with the US Treasury, the Secret Service launched the “Know Your US Treasury Check Campaign” on April 20, 2020 to ensure citizens, retailers, and financial institutions can identify …
Julie J. Mixtacki US Secret Service Releases Guidance on US Stimulus Check Features
Paycheck Protection Program – Don’t Forget About BSA and USA PATRIOT Act Requirements! Beginning on April 3, 2020, small businesses and sole proprietors will be able to apply for loans under the Paycheck Protection Program (independent contractors and self-employed individuals …
Julie J. Mixtacki Paycheck Protection Program – Don’t Forget About BSA and USA PATRIOT Act Requirements
COVID-19 Related Scam Reporting – FinCEN Guidance The Financial Crimes Enforcement Network issued guidance on March 16th regarding the potential for malicious and fraudulent financial activity conducted in the midst of the COVID-19 crisis. After monitoring public and BSA reports …
COVID-19 Related Scam Reporting – FinCEN Guidance Julie J. Mixtacki
No pandemic would be complete without the rollout of a new scam targeting the most vulnerable members of our families and population – the elderly. Some states have reported in recent weeks that the elderly have been on the receiving …
Elder Financial Exploitation – Pandemic Scams Julie J. Mixtacki
CBD Oil Product Retailers – What’s the Buzz? Have you seen them yet – the neon signs, plastic banners, billboards, and pop-up ads flashing “We Sell CBD!”? Since the Farm Bill passed in December 2018, the sales signs are popping …
Take a Proactive Approach to Cryptocurrency Due Diligence and Monitoring With so many regulatory updates on your financial institution’s plate for 2018 (still having flashbacks from the beneficial ownership roll-out?), you may have overlooked one emerging higher risk trend – …
Julie J. Mixtacki Take a Proactive Approach to Cryptocurrency Due Diligence and Monitoring
Pop Quiz – Shared Branching on New Currency Transaction Report You may have noticed a new option called “Shared Branching” on the updated Currency Transaction Report (CTR) form. “Shared Branching” could only mean one thing – the customer conducted transactions …
Don’t Let the Finer Points of Beneficial Ownership Procedures Slip Through the Cracks With the May 11th effective date for compliance with the final CDD rule looming, much focus has been placed on whether financial institutions will be ready with …
Don’t Let the Finer Points of Beneficial Ownership Procedures Slip Through the Cracks Julie J. Mixtacki
Is Your Whistleblower Hotline Causing Trust Issues? If your financial institution hasn’t received many calls to the Whistleblower Hotline, don’t start patting yourself on the back just yet. A lack of calls shouldn’t be mistaken for the absence of any …
Is Your Whistleblower Hotline Causing Trust Issues? Julie J. Mixtacki