What Regulators and International Bodies are Saying about Effectiveness

Last month we shared with you the first in our series on the effectiveness of financial crime controls - The Heavy Cost of Ineffectiveness. Now we are diving into what the regulators and international bodies are saying about the topic.

In this whitepaper you'll read about:

The global trend towards effectiveness from bodies such as the Financial Action Task Force,
What the US and UK regulators are saying about effectiveness, and
How to start thinking about effectiveness.

The final part in this series will then cover how to measure effectiveness.

Cable Product Announcement: Financial Crime Risk Assessment Subscription

We’re thrilled to announce the launch of Cable's Financial Crime Risk Assessment Subscription—Building on our game-changing solution empowering compliance leaders to grow and protect their businesses. Financial crime risk assessments are critical to regulatory compliance and business growth decisions—But the vast majority of firms still

The Regulators Keep Telling Us: Compliance is Effectiveness

In the rapidly changing financial landscape, the intersection of banks and fintechs, especially in Banking-as-a-Service (BaaS), faces growing regulatory scrutiny. This blog delivers insights on the latest compliance trends and oversight for bank-fintech collaborations.

OCC Consent Order to Blue Ridge Bank signals intense BaaS regulatory pressure in 2024

On January 24, 2024, the OCC issued a Consent Order to Blue Ridge Bank, finding that the bank failed to establish and maintain a reasonably designed BSA/AML Program. Deficiencies include systemic internal controls breakdowns, weak independent testing, and insufficient BSA staffing, stemming from risk management challenges related to third-party

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