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July 5, 2016
In yet another example of the constantly changing nature of anti-money laundering (AML) regulations, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has recently published the final rule that will fall under the Bank Secrecy Act (BSA). The rule codifies new customer due... Read More »
June 28, 2016
Chase Bank found itself in the media earlier this year after it was revealed that its African branch had irregularly advanced 16.6 billion shillings (Sh) to a variety of entities, many of which were associated with bank insiders, and all without proper security. The Central Bank of Kenya (CBK)... Read More »
June 22, 2016
Immigration, Refugees and Citizenship Canada (IRC) recently faced criticism from Canada’s Auditor-General for having gaps in its citizenship program that led to a review of approximately 700 potential cases of citizenship fraud as of January this year. One issue involved 50 different citizenship... Read More »
June 17, 2016
But why? That’s the question we always asked as children, but as we get older and busier we seem to spend more time dealing with situations and never have quite enough time to figure out why they happened in the first place.  As a P-Card Manager, it’s not surprising that you don’t have time to... Read More »
June 14, 2016
The Association of Certified Fraud Examiners (ACFE) recently released its 2016 edition of Report to the Nations, and according to the 92-page report, the costs of occupational fraud and abuse are staggering. The report contains the analysis of 2,410 cases of occupational fraud that occurred in 114... Read More »
June 10, 2016
In Part 1 of this blog, which we shared with you last week, I summarized the first half of a presentation I delivered at this year’s IDEA User Conference in Orlando. In the second and final part of this blog, I’ll answer for you the question we ended with last week: how can you use IDEA to... Read More »
June 7, 2016
FinCEN recently presented its annual awards in recognition of law enforcement agencies that use the Bank Secrecy Act (BSA) reporting to support their criminal investigations. In addition to the vast criminal enterprises these agencies have shut down, it also highlights the important role reports... Read More »
June 6, 2016
As city audit plans roll out, there is a shift towards leveraging continuous control monitoring (CCM) applications to cut expenses, detect policy violations and identify potentially fraudulent activities. CCM applications examine 100% of transactions and, when an exception is detected, utilize a... Read More »
June 3, 2016
IDEA 10 has now been on the market for seven months after launching in November 2015. I recently attended the IDEA User Conference, where it appears that most attendees have enthusiastically embraced the upgrade. As Chief Product Strategist for IDEA Data Analysis software here at CaseWare... Read More »
June 1, 2016
The latest quarterly status report for HSBC’s anti-money laundering (AML) and sanctions compliance program offers a glimpse into the challenges large banks face when implementing an AML program. An independent corporate compliance monitor noted that HSBC continues to make significant steps toward... Read More »