Anti-Laundering Rules in Flux And Banks Must Be Proactive

Vangel, Donald T.
September 2000
American Banker;9/22/2000, Vol. 165 Issue 183, p17
Trade Publication
Focuses on the United States federal government's anti-money laundering rules for banks. Determining the level of enhanced due diligence for clients that require monitoring; Understanding the client's normal and expected transactions; Identifying an unusual transaction that may require the filing of a suspicious-activity report.


Related Articles

  • Regulatory Look-Backs On Rise, So Is Their Cost. Hopkins, Cheyenne // American Banker;7/6/2007, Vol. 172 Issue 129, p1 

    This article reports that the "look-back," a requirement to hire outside consultants to sift through a bank's past transaction data, has become one of the most feared provisions in enforcement orders. Once limited primarily to fair lending cases, regulators are increasingly using look-backs when...

  • Helping the money launderers. Lavelle, Marianne // U.S. News & World Report;10/22/2001, Vol. 131 Issue 17, p48 

    Reports on efforts of business and banking lobbyists in the United States to oppose regulations designed to stymie money laundering by terrorists. How the regulations would hurt any business involved in offshore finance; Proposal to prevent U.S. banks from doing business with 'shell banks,'...

  • OCC Cites N.Y.'s Trustco for Violating Patriot Act. REOSTI, JOHN // American Banker;9/19/2002, Vol. 167 Issue 180, p3 

    Reports that the U.S. Office of the Comptroller of the Currency (OCC) has ordered Trustco Bank of New York to strengthen its defenses against money laundering after citing the company for its violation of the U.S. Patriot Act. Terms of the OCC directive to ensure compliance; Impetus for...

  • Ottawa aims to update money laundering rules.  // Canadian Banker;Sep/Oct97, Vol. 104 Issue 5, p8 

    Focuses on Canadian government's proposed changes to the nation's anti-money-laundering regulations. Modifications to requirements for client identification; Flexibility in identifying clients to accommodate Internet banking.

  • U.S. denies a report it's probing brokerages for money laundering. Henry, Shannon // American Banker;10/6/1994, Vol. 159 Issue 193, p9 

    Reports on the denial made by the United States government that it is investigating some of the biggest brokerage firms in the country for money-laundering violations. Report from the Wall Street Journal; Companies allegedly under investigation; Related laws; Expectations from the Treasury...

  • Gibraltar Bank Announces New Enforcement Action for Continuing AML Issues.  // BSA/AML Update;6/15/2014, Vol. 10 Issue 12, p1 

    The article reports on the announcement of Florida-based bank Gibraltar Private Bank & Trust that federal regulators in the U.S. were about to impose an enforcement action for its failure to comply withy the Bank Secrecy Act. The effort of the Office of the Comptroller of the Currency (OCC) and...

  • Greenspan Tries to Calm Anti-Laundering Jitters. Paletta, Damian // American Banker;3/14/2005, Vol. 170 Issue 49, p3 

    Reports that Federal Reserve Board Chairman Alan Greenspan has assured bankers that anti-money-laundering enforcement is being rationalized. Comments from John Snow, the U.S. Treasury Secretary speaking before the Independent Community Bankers of America, regarding the Bank Secrecy Act;...

  • Fincen Conducting Bank-Style BSA Exams of Virtual Currency Firms. McKendry, Ian // Americanbanker.com;5/6/2015, p1 

    Financial Crime Enforcement Network Director Jennifer Shasky Calvery said Wednesday that Internal Revenue Service examiners are conducting bank-like exams of virtual currency firms for possible anti-money laundering violations.

  • NCADD WASHINGTON REPORT.  // NCADD Washington Report;Aug2001, Vol. 4 Issue 8, p1 

    Reports developments related to alcoholism and drug dependence in the United States as of August 2001. Request of Senator Dianne Feinstein to limit alcoholic beverage drink for airline passengers; Details of the laws for laundering drug money; Appointment of Representative Asa Hutchinson to...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics