May 5, 2022

The world of FinCrime is more dynamic than ever, with fraud escalating thanks to an increase in mobile payments precipitated by the pandemic and security concerns rising over the Russian conflict in Ukraine. The anti-money laundering (AML) industry waits patiently for further regulations and guidance on the Anti-Money Laundering Act of 2020 (AMLA), specifically expectations for aligning with the eight FinCEN priorities. What does this mean for the current regulatory focus for financial institutions? A panel of experts from top regulatory and supervisory agencies recently spoke at the Hawaii Bankers Association (HBA) BSA/AML Symposium to give insight into what they will be looking for in the 2022 examinations. Below are the top ten regulatory hot topics, in no order of importance.

After years of anticipating CECL, January 2023 is within sight. And the compliance deadline won’t be moving.

FICO has been what many consider as the number one stand-alone credit decision model since having been first introduced in 1989 by Fair Isaac Corp. Can we build on that foundation to create a more future-forward way of predicting lending outcomes?

The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (USA PATRIOT Act) was passed in October 2001 in response to the terrorist acts of September 11. The purpose of the USA PATRIOT Act is to deter and punish terrorist acts in the United States and around the world, to enhance law enforcement investigatory tools, and other purposes.

If bond investors – you – were running low on things to worry about for the rest of the year, I’ve got some terrific news: the $9 trillion portfolio owned by our central bank will begin to shrink. Soon. And at a feverish pace, I might add.