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Fmc being mute spectator in nsel crisiskarishma shah
The document criticizes the Forward Markets Commission (FMC) for its role as a mute spectator during the 2013 National Spot Exchange (NSEL) crisis. It alleges that despite NSEL sharing information with FMC for years, FMC wrongly advised the government to abruptly close NSEL. It also questions why FMC allowed NSEL to operate for so long if it was violating norms from the beginning. Furthermore, the document claims FMC overstepped its powers by recommending the merger of NSEL and FTIL and changing FTIL's board. It argues FMC failed to take actions like SEBI did in a similar 2008 crisis, and has passed pecuniary benefits to defaulters and brokers while remaining silent about broker involvement in money laund
CM4RG Presentation from March 15, 2012 Town Hall MeetingMike Harmanos
Costa Mesans for Responsible Government hosted a town hall-style informational forum on Thursday, March 15, regarding the proposed city charter. The forum asked "What will the charter mean for our community? Our neighborhoods? Our pocketbooks?"
Residents of Costa Mesa found out what will change and what won’t — and what could change depending on the wishes of a current or future city council.
This presentation helps citizens learn how becoming a charter city could:
• Affect Land Use decisions and the ability of residents to challenge those decisions
• Make Public Works Projects MORE Expensive while doing nothing about the City’s pension obligation
• Affect Future Elections
Finally, this presentation discusses the dangers of what the proposed charter DOESN’T say.
Eddie Goldsmith - Moving With the Times 2011Lawyer Checker
The document discusses the industrialization of the legal profession, specifically in conveyancing. It notes that conveyancing makes up around £1-1.5 billion per year in the UK but is concentrated among a small number of large firms. Technological changes and the recession have created pressures in the industry. Lenders are reducing the number of solicitors they work with and increasing oversight. The document considers various options for solicitors' firms going forward, including specializing in conveyancing, embracing new technology, and inventing new business models for the future.
Introduction to SRA Regulation for ABSsJonathon Bray
Now that you're licensed to practice as an ABS, it's imperative that all of your owners, managers and employees are aware of the extent and reach of SRA regulation. ABSs are law firms like any other, and there are strict compliance and ethical requirements.
FTC Fair Debt Collection Practices Act Report to the CFPB (Feb. 2013)dollardiva
The letter from the FTC to the CFPB summarizes the FTC's debt collection program and activities over the past year. It describes the FTC's three-pronged approach of law enforcement, education and outreach, and research. Under law enforcement, the FTC brought or resolved 7 debt collection cases in the past year, obtaining injunctions and monetary judgments. This included cases against collectors using deceptive, unfair, or abusive practices or attempting to collect on phantom debts. The FTC also filed amicus briefs supporting private plaintiffs' rights and providing guidance on time-barred debt.
Stop Zenith Acquisition Corporation! Call 877-737-8617 for Legal Help.Stop_Bill_Collectors
Don't pay anything to Zenith Acquisition Corporation without consulting a lawyer first. For more information about Zenith Acquisition Corporation, you may call Attorney Vicki Piontek, 877-737-8617. Consultation is always free.
Assumed Business Names - What Every Business Lawyer Should KnowCT
Businesses are frequently required to adopt – or want to adopt – a different name than the one used for formation. This assumed name, otherwise known as “doing business as”, is a popular option often accompanied by legal requirements that vary by state. In this presentation, CT’s expert attorney reviews the key aspect of assumed names so attendees are well informed about the process and how to navigate it successfully.
Learn about:
What an assumed name is (and what it isn’t)
Reasons assumed names are used
How (and why) assumed names are regulated by states
How courts have handled parties using assumed names
Penalties for non-compliance
Fmc being mute spectator in nsel crisiskarishma shah
The document criticizes the Forward Markets Commission (FMC) for its role as a mute spectator during the 2013 National Spot Exchange (NSEL) crisis. It alleges that despite NSEL sharing information with FMC for years, FMC wrongly advised the government to abruptly close NSEL. It also questions why FMC allowed NSEL to operate for so long if it was violating norms from the beginning. Furthermore, the document claims FMC overstepped its powers by recommending the merger of NSEL and FTIL and changing FTIL's board. It argues FMC failed to take actions like SEBI did in a similar 2008 crisis, and has passed pecuniary benefits to defaulters and brokers while remaining silent about broker involvement in money laund
CM4RG Presentation from March 15, 2012 Town Hall MeetingMike Harmanos
Costa Mesans for Responsible Government hosted a town hall-style informational forum on Thursday, March 15, regarding the proposed city charter. The forum asked "What will the charter mean for our community? Our neighborhoods? Our pocketbooks?"
Residents of Costa Mesa found out what will change and what won’t — and what could change depending on the wishes of a current or future city council.
This presentation helps citizens learn how becoming a charter city could:
• Affect Land Use decisions and the ability of residents to challenge those decisions
• Make Public Works Projects MORE Expensive while doing nothing about the City’s pension obligation
• Affect Future Elections
Finally, this presentation discusses the dangers of what the proposed charter DOESN’T say.
Eddie Goldsmith - Moving With the Times 2011Lawyer Checker
The document discusses the industrialization of the legal profession, specifically in conveyancing. It notes that conveyancing makes up around £1-1.5 billion per year in the UK but is concentrated among a small number of large firms. Technological changes and the recession have created pressures in the industry. Lenders are reducing the number of solicitors they work with and increasing oversight. The document considers various options for solicitors' firms going forward, including specializing in conveyancing, embracing new technology, and inventing new business models for the future.
Introduction to SRA Regulation for ABSsJonathon Bray
Now that you're licensed to practice as an ABS, it's imperative that all of your owners, managers and employees are aware of the extent and reach of SRA regulation. ABSs are law firms like any other, and there are strict compliance and ethical requirements.
FTC Fair Debt Collection Practices Act Report to the CFPB (Feb. 2013)dollardiva
The letter from the FTC to the CFPB summarizes the FTC's debt collection program and activities over the past year. It describes the FTC's three-pronged approach of law enforcement, education and outreach, and research. Under law enforcement, the FTC brought or resolved 7 debt collection cases in the past year, obtaining injunctions and monetary judgments. This included cases against collectors using deceptive, unfair, or abusive practices or attempting to collect on phantom debts. The FTC also filed amicus briefs supporting private plaintiffs' rights and providing guidance on time-barred debt.
Stop Zenith Acquisition Corporation! Call 877-737-8617 for Legal Help.Stop_Bill_Collectors
Don't pay anything to Zenith Acquisition Corporation without consulting a lawyer first. For more information about Zenith Acquisition Corporation, you may call Attorney Vicki Piontek, 877-737-8617. Consultation is always free.
Assumed Business Names - What Every Business Lawyer Should KnowCT
Businesses are frequently required to adopt – or want to adopt – a different name than the one used for formation. This assumed name, otherwise known as “doing business as”, is a popular option often accompanied by legal requirements that vary by state. In this presentation, CT’s expert attorney reviews the key aspect of assumed names so attendees are well informed about the process and how to navigate it successfully.
Learn about:
What an assumed name is (and what it isn’t)
Reasons assumed names are used
How (and why) assumed names are regulated by states
How courts have handled parties using assumed names
Penalties for non-compliance
The document discusses the evolution of the Consumer Financial Protection Bureau (CFPB) and outlines some of its proposed powers and responsibilities. Key points include:
- The CFPB started as an independent agency but evolved to be a semi-independent bureau within the Federal Reserve.
- It would have rulemaking, supervisory, and enforcement authority over consumer financial products and services.
- There is debate around the scope of its authority over institutions and its independence from other regulators.
This document summarizes proposals from the Davis Tax Committee regarding changes to estate taxes, trusts, foreign trusts, and contributions to retirement funds. Some key points proposed include removing the ability of trusts to shift taxable income, taxing trusts as separate taxpayers at 41%, limiting inter-spouse donations and exemptions, and including disallowed retirement fund contributions in estate duty computations. The document provides comparisons of investing as an individual versus through a trust, noting trusts may still provide tax benefits. It clarifies the proposals are not yet law and changes should not be made until finalized.
The document discusses estate planning tools like trusts and wills. It provides information on the legal nature and purpose of trusts, including benefits like protecting assets and reducing death duties. It describes the differences between inter vivos and testamentary trusts. The roles and duties of trustees are outlined. Some common problem clauses in trust deeds are highlighted with examples. Taxation of trusts, including income tax and capital gains tax, is covered. Requirements for a valid will are also summarized.
Update on Unconscionable Conduct and Good Faith Developments in Australian Law - Presentation for Prof Justin Malbon's Consumer Law Class, Monash University Faculty of Law, 19.05.10
We recognize the amazing potential for business in Cameroon... However, American businesses and AmCham members encounter difficulties doing business in Cameroon. According to UN statistics, the United States is the leading investor in Cameroon in terms of dollars invested but enforcing contracts and corruption deters potential investors and impedes development.
This document discusses the administration of deceased estates in South Africa. It begins by noting that while some estates are finalized in 3 months, this is usually not possible unless the estate qualifies for a simplified administration process. The responsibilities of executors are then outlined, which include taking control of the deceased's assets, paying debts and taxes, and distributing remaining assets according to the will. The document further details the various third parties and institutions an executor must deal with, and outlines the typical multi-step process and timeframes for winding up an estate, which usually takes 9-12 months but can be longer. Common problems that can delay estates are also listed.
The document outlines key proposals and recommendations for financial regulatory reform contained in reports released by the Obama Administration in June and August 2009. It summarizes the causes of the financial crisis, including inadequate consumer and investor protections, insufficient oversight of financial firms, poor oversight of markets, and lack of mechanisms for resolving failed firms. The proposals aim to establish a new Consumer Financial Protection Agency, increase oversight of financial firms and markets, implement new rules for winding down failed firms, and enhance international coordination of standards. If enacted, the reforms are intended to protect consumers, investors, and taxpayers and prevent future crises.
Debt Collection Harassment: What Consumers Should KnowLemberg Law
Are you being harassed by debt collectors? Did you know that the Fair Debt Collection Practices Act (FDCPA) was enacted to protect you? Broadly speaking, the FDCPA law forbids debt collection agencies from harassing you, embarrassing you, threatening you, and misleading you. Learn more about the FDCPA, what is and isn’t covered, and common scenarios such as “Can a debt collector contact anyone else about my debt?,” “Can a collector keep contacting me if I don’t think I owe any money?,” and many others.
Lemberg Law is the top-rated law firm dedicated to fighting for the rights of hard-working people like you. Our experienced debt collection attorneys have helped bring consumer cases all the way to the U.S. Supreme Court. We level the playing field so you can win – and win big – even against giant corporations.
https://lemberglaw.com/jefferson-capital-systems-collections-complaints/
https://lemberglaw.com/fdcpa/debt-collection-harassment-lawyer-attorney/
The document provides information about South African exchange controls, including definitions of key terms, the history and purpose of exchange controls, and rules regarding emigration from South Africa. It summarizes the emigration process, which involves completing forms, providing supporting documents, and obtaining approval from the South African Revenue Service and South African Reserve Bank. It also outlines restrictions on funds held in blocked accounts and rules regarding trusts, estates, policies and assets after emigrating from South Africa.
This document discusses trusts, including what a trust is, benefits and disadvantages of trusts, taxation of trusts, and examples. Some key points covered include:
- A trust is a contract where a donor transfers assets to trustees to hold for the benefit of beneficiaries.
- Benefits of trusts include preservation of wealth across generations, protection of people and causes, and reduction of taxes like capital gains tax, estate duty tax, and donations tax.
- Disadvantages include the donor losing control over assets and costs of establishing and maintaining the trust.
- Taxation includes income tax and capital gains tax in the trust at rates of 40% and 20%, and distributions to beneficiaries may be taxed depending on rules.
-
This document discusses common pitfalls in estate planning, wills, trusts, and estate administration. It notes that estate planning aims to arrange one's assets and affairs to provide maximum benefit during life and after death. When drafting wills and trusts, simplicity, liquidity, good governance, and flexibility are important. A will is crucial but must be properly drafted; if not, it can damage families and fortunes. Dying without a will leads to unintended consequences. Trusts can help preserve wealth and reduce taxes, but trust deeds are often poorly drafted. Improper management of trusts can also cause problems. Estate administration faces issues like disputed claims, insolvency, liquidity problems, and difficulties with various entities and institutions.
This document summarizes recent developments in North Carolina lien law in 2009. It discusses proposed legislation that did not pass regarding relating back liens, two key bankruptcy court decisions that found liens could not be filed after bankruptcy, and the current appeals process. It notes the lien law appears to be under increased scrutiny and predicts another challenge may come regarding preferences in bankruptcy.
Amalgamated Audit helps Americans save money through utility bill audits and credit restoration services. They audit utility bills, taxes, and expenses for businesses to find overcharges and refunds, keeping clients first for any refunds found. They also offer credit restoration through a contracted law firm to remove derogatory items from credit reports at flat fees starting at $1,000. The document promotes these services as helping clients save substantial money by finding refunds on overcharges and improving credit costs.
Small business owners who are weighed down by debt often have personal assets at risk. Learn about bankruptcy and other debt relief options, as well as which types of property can be protected from creditors.
The IRS is making several changes to their tax lien process to help struggling taxpayers, including increasing the dollar threshold for when liens are issued which should result in fewer liens. They are also expanding installment agreement programs for small businesses and the streamlined offer in compromise program. Critics say the changes do not go far enough, while others see it as a step in the right direction to provide more flexibility for taxpayers getting back on track with their tax obligations.
The document summarizes the Fair Credit Reporting Act (FCRA), which regulates how consumer reporting agencies use consumer information. It discusses that the FCRA was passed in the 1970s to regulate the consumer reporting industry. It also notes that the FCRA covers both consumer reports on character/reputation and credit reports issued by credit bureaus. Additionally, it discusses recent FCRA cases brought by the FTC against companies for various violations of consumers' rights under the FCRA.
A professionally drafted will is important to avoid unintended consequences of dying intestate like assets not benefiting intended people, higher death duties, and capital gains tax. A will should be reviewed every 2 years or when life events like marriage, divorce, or death of a spouse occur. Freedom of testation allows people to leave assets to whoever they want, with exceptions for maintaining minor children. Requirements for a valid will include being signed and dated in front of two witnesses. Dying without a will can significantly increase death duties paid compared to using basic estate planning techniques like leaving assets in a testamentary trust. More advanced planning utilizes exemptions fully and provides offshore asset protection. Separate foreign wills may be needed and usufr
July 24 Top Ten Legal Mistakes Startups MakeRoger Royse
The document outlines the top 10 legal mistakes startups commonly make. These include: 1) substituting legal counsel with online services, 2) failure to ensure compliance with foreign corruption and immigration laws, 3) not using the right equity compensation structure, 4) lack of adequate corporate structure resulting in entrenched management, 5) lack of tax planning, 6) not complying with securities laws, 7) violating employment and labor laws, 8) failure to establish an intellectual property strategy, 9) choosing the wrong entity structure, and 10) failing to identify the right market entry strategy. The document provides brief explanations for each mistake and recommends obtaining proper legal counsel to avoid common pitfalls.
The Dodd-Frank Act aims to create a more stable financial system through increased regulations and consumer protections. It establishes new regulatory agencies, restrictions on large banks, and hundreds of new rules. The act aims to end taxpayer bailouts of financial institutions, increase transparency, and protect investors. One key change was removing Regulation Q which prohibited paying interest on business checking accounts, potentially impacting banks' revenues and customers' cash management strategies.
This document discusses recent cases where banking executives have been held personally liable for compliance failures at their institutions. It notes that the New York Department of Financial Services plans to propose requiring senior banking executives to personally certify the adequacy of their institutions' anti-money laundering programs. This would increase pressure on firms to prevent financial crimes. The document also reviews large fines issued to numerous financial institutions for violations of sanctions and anti-money laundering laws over the past decade.
This document discusses unfair credit contracts and advocating for consumers. It provides examples of unfair mortgage refinancing and fringe lending practices. For mortgage refinancing, it describes how brokers often provide consumers with more credit than requested, resulting in equity skimming. It also discusses obligations to assess repayment capacity. For fringe lending, it notes short term high interest loans targeted at disadvantaged groups. The document concludes by outlining Consumer Action's campaign for responsible lending regulations and capacity to negotiate relief for consumers.
The document provides information about recent changes to mortgage and finance regulations in Australia. The Australian Prudential Regulatory Authority (APRA) has influenced lenders to be more prudent, which will impact the property market. The state budget removed the $3,000 First Home Owners Grant for established homes, though stamp duty concessions remain. The document also provides contact information for a finance broker and answers a question about how credit scores are calculated based on credit history, applications, and accounts.
The document discusses the evolution of the Consumer Financial Protection Bureau (CFPB) and outlines some of its proposed powers and responsibilities. Key points include:
- The CFPB started as an independent agency but evolved to be a semi-independent bureau within the Federal Reserve.
- It would have rulemaking, supervisory, and enforcement authority over consumer financial products and services.
- There is debate around the scope of its authority over institutions and its independence from other regulators.
This document summarizes proposals from the Davis Tax Committee regarding changes to estate taxes, trusts, foreign trusts, and contributions to retirement funds. Some key points proposed include removing the ability of trusts to shift taxable income, taxing trusts as separate taxpayers at 41%, limiting inter-spouse donations and exemptions, and including disallowed retirement fund contributions in estate duty computations. The document provides comparisons of investing as an individual versus through a trust, noting trusts may still provide tax benefits. It clarifies the proposals are not yet law and changes should not be made until finalized.
The document discusses estate planning tools like trusts and wills. It provides information on the legal nature and purpose of trusts, including benefits like protecting assets and reducing death duties. It describes the differences between inter vivos and testamentary trusts. The roles and duties of trustees are outlined. Some common problem clauses in trust deeds are highlighted with examples. Taxation of trusts, including income tax and capital gains tax, is covered. Requirements for a valid will are also summarized.
Update on Unconscionable Conduct and Good Faith Developments in Australian Law - Presentation for Prof Justin Malbon's Consumer Law Class, Monash University Faculty of Law, 19.05.10
We recognize the amazing potential for business in Cameroon... However, American businesses and AmCham members encounter difficulties doing business in Cameroon. According to UN statistics, the United States is the leading investor in Cameroon in terms of dollars invested but enforcing contracts and corruption deters potential investors and impedes development.
This document discusses the administration of deceased estates in South Africa. It begins by noting that while some estates are finalized in 3 months, this is usually not possible unless the estate qualifies for a simplified administration process. The responsibilities of executors are then outlined, which include taking control of the deceased's assets, paying debts and taxes, and distributing remaining assets according to the will. The document further details the various third parties and institutions an executor must deal with, and outlines the typical multi-step process and timeframes for winding up an estate, which usually takes 9-12 months but can be longer. Common problems that can delay estates are also listed.
The document outlines key proposals and recommendations for financial regulatory reform contained in reports released by the Obama Administration in June and August 2009. It summarizes the causes of the financial crisis, including inadequate consumer and investor protections, insufficient oversight of financial firms, poor oversight of markets, and lack of mechanisms for resolving failed firms. The proposals aim to establish a new Consumer Financial Protection Agency, increase oversight of financial firms and markets, implement new rules for winding down failed firms, and enhance international coordination of standards. If enacted, the reforms are intended to protect consumers, investors, and taxpayers and prevent future crises.
Debt Collection Harassment: What Consumers Should KnowLemberg Law
Are you being harassed by debt collectors? Did you know that the Fair Debt Collection Practices Act (FDCPA) was enacted to protect you? Broadly speaking, the FDCPA law forbids debt collection agencies from harassing you, embarrassing you, threatening you, and misleading you. Learn more about the FDCPA, what is and isn’t covered, and common scenarios such as “Can a debt collector contact anyone else about my debt?,” “Can a collector keep contacting me if I don’t think I owe any money?,” and many others.
Lemberg Law is the top-rated law firm dedicated to fighting for the rights of hard-working people like you. Our experienced debt collection attorneys have helped bring consumer cases all the way to the U.S. Supreme Court. We level the playing field so you can win – and win big – even against giant corporations.
https://lemberglaw.com/jefferson-capital-systems-collections-complaints/
https://lemberglaw.com/fdcpa/debt-collection-harassment-lawyer-attorney/
The document provides information about South African exchange controls, including definitions of key terms, the history and purpose of exchange controls, and rules regarding emigration from South Africa. It summarizes the emigration process, which involves completing forms, providing supporting documents, and obtaining approval from the South African Revenue Service and South African Reserve Bank. It also outlines restrictions on funds held in blocked accounts and rules regarding trusts, estates, policies and assets after emigrating from South Africa.
This document discusses trusts, including what a trust is, benefits and disadvantages of trusts, taxation of trusts, and examples. Some key points covered include:
- A trust is a contract where a donor transfers assets to trustees to hold for the benefit of beneficiaries.
- Benefits of trusts include preservation of wealth across generations, protection of people and causes, and reduction of taxes like capital gains tax, estate duty tax, and donations tax.
- Disadvantages include the donor losing control over assets and costs of establishing and maintaining the trust.
- Taxation includes income tax and capital gains tax in the trust at rates of 40% and 20%, and distributions to beneficiaries may be taxed depending on rules.
-
This document discusses common pitfalls in estate planning, wills, trusts, and estate administration. It notes that estate planning aims to arrange one's assets and affairs to provide maximum benefit during life and after death. When drafting wills and trusts, simplicity, liquidity, good governance, and flexibility are important. A will is crucial but must be properly drafted; if not, it can damage families and fortunes. Dying without a will leads to unintended consequences. Trusts can help preserve wealth and reduce taxes, but trust deeds are often poorly drafted. Improper management of trusts can also cause problems. Estate administration faces issues like disputed claims, insolvency, liquidity problems, and difficulties with various entities and institutions.
This document summarizes recent developments in North Carolina lien law in 2009. It discusses proposed legislation that did not pass regarding relating back liens, two key bankruptcy court decisions that found liens could not be filed after bankruptcy, and the current appeals process. It notes the lien law appears to be under increased scrutiny and predicts another challenge may come regarding preferences in bankruptcy.
Amalgamated Audit helps Americans save money through utility bill audits and credit restoration services. They audit utility bills, taxes, and expenses for businesses to find overcharges and refunds, keeping clients first for any refunds found. They also offer credit restoration through a contracted law firm to remove derogatory items from credit reports at flat fees starting at $1,000. The document promotes these services as helping clients save substantial money by finding refunds on overcharges and improving credit costs.
Small business owners who are weighed down by debt often have personal assets at risk. Learn about bankruptcy and other debt relief options, as well as which types of property can be protected from creditors.
The IRS is making several changes to their tax lien process to help struggling taxpayers, including increasing the dollar threshold for when liens are issued which should result in fewer liens. They are also expanding installment agreement programs for small businesses and the streamlined offer in compromise program. Critics say the changes do not go far enough, while others see it as a step in the right direction to provide more flexibility for taxpayers getting back on track with their tax obligations.
The document summarizes the Fair Credit Reporting Act (FCRA), which regulates how consumer reporting agencies use consumer information. It discusses that the FCRA was passed in the 1970s to regulate the consumer reporting industry. It also notes that the FCRA covers both consumer reports on character/reputation and credit reports issued by credit bureaus. Additionally, it discusses recent FCRA cases brought by the FTC against companies for various violations of consumers' rights under the FCRA.
A professionally drafted will is important to avoid unintended consequences of dying intestate like assets not benefiting intended people, higher death duties, and capital gains tax. A will should be reviewed every 2 years or when life events like marriage, divorce, or death of a spouse occur. Freedom of testation allows people to leave assets to whoever they want, with exceptions for maintaining minor children. Requirements for a valid will include being signed and dated in front of two witnesses. Dying without a will can significantly increase death duties paid compared to using basic estate planning techniques like leaving assets in a testamentary trust. More advanced planning utilizes exemptions fully and provides offshore asset protection. Separate foreign wills may be needed and usufr
July 24 Top Ten Legal Mistakes Startups MakeRoger Royse
The document outlines the top 10 legal mistakes startups commonly make. These include: 1) substituting legal counsel with online services, 2) failure to ensure compliance with foreign corruption and immigration laws, 3) not using the right equity compensation structure, 4) lack of adequate corporate structure resulting in entrenched management, 5) lack of tax planning, 6) not complying with securities laws, 7) violating employment and labor laws, 8) failure to establish an intellectual property strategy, 9) choosing the wrong entity structure, and 10) failing to identify the right market entry strategy. The document provides brief explanations for each mistake and recommends obtaining proper legal counsel to avoid common pitfalls.
The Dodd-Frank Act aims to create a more stable financial system through increased regulations and consumer protections. It establishes new regulatory agencies, restrictions on large banks, and hundreds of new rules. The act aims to end taxpayer bailouts of financial institutions, increase transparency, and protect investors. One key change was removing Regulation Q which prohibited paying interest on business checking accounts, potentially impacting banks' revenues and customers' cash management strategies.
This document discusses recent cases where banking executives have been held personally liable for compliance failures at their institutions. It notes that the New York Department of Financial Services plans to propose requiring senior banking executives to personally certify the adequacy of their institutions' anti-money laundering programs. This would increase pressure on firms to prevent financial crimes. The document also reviews large fines issued to numerous financial institutions for violations of sanctions and anti-money laundering laws over the past decade.
This document discusses unfair credit contracts and advocating for consumers. It provides examples of unfair mortgage refinancing and fringe lending practices. For mortgage refinancing, it describes how brokers often provide consumers with more credit than requested, resulting in equity skimming. It also discusses obligations to assess repayment capacity. For fringe lending, it notes short term high interest loans targeted at disadvantaged groups. The document concludes by outlining Consumer Action's campaign for responsible lending regulations and capacity to negotiate relief for consumers.
The document provides information about recent changes to mortgage and finance regulations in Australia. The Australian Prudential Regulatory Authority (APRA) has influenced lenders to be more prudent, which will impact the property market. The state budget removed the $3,000 First Home Owners Grant for established homes, though stamp duty concessions remain. The document also provides contact information for a finance broker and answers a question about how credit scores are calculated based on credit history, applications, and accounts.
The document summarizes key provisions of the recently passed Financial Reform Law. It discusses regulations that will expand federal oversight of financial institutions, create a new Consumer Financial Protection Bureau, and reform mortgage and lending practices. Major changes include restricting proprietary trading by banks, requiring "skin in the game" for risky asset-backed securities, and new rules regarding debit/credit fees charged to retailers. The full implementation of the law will take years and financial institutions should consult legal counsel on how it affects their practices.
1 Ethical Analysis of The Commonwealth Bank Money Laund.docxcroftsshanon
1
Ethical Analysis of The Commonwealth Bank Money Laundering Case
Case Facts
Commonwealth Bank of Australia (CBA), founded in 1911, is one of Australia’s leading
providers of ‘integrated financial services, including retail, premium, business and
institutional banking, funds management, superannuation, insurance, investment and
share-broking products and services’ (Commonwealth Bank of Australia 2018). In May 2012,
CBA introduced Intelligent Deposit Machines (IDMs) which accept deposits by both cash and
cheque (Ockenden & Parry 2017). Once deposited, funds are available for immediate
transfer to other accounts domestically and internationally (Chief Executive Officer of The
Australian Transaction Reports and Analysis Centre v Commonwealth Bank of Australia
Limited ACN [2017] FCA, para. 1). IDMs can accept up to 200 notes per deposit (up to
$20,000 per cash transaction), and there are no limits on the number of IDM transactions a
customer can make per day (AUSTRAC v CBA [2017] FCA, para. 2). IDMs allow for
anonymous cash deposits, as a card from any financial institution can be used; if a non-CBA
card is used, the details of the cardholder are unknown (Norton 2017; AUSTRAC v CBA
[2017] FCA, para. 3). Since their introduction in 2012, over $1 billion has been transferred
through IDMs (Ockenden & Parry 2017).
Under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, s. 81, “The
Act”, CBA has a joint Anti-Money Laundering and Counter-Terrorism Financing program,
with procedures it failed to comply with from the beginning of IDM introduction to the
market in 2012 (AUSTRAC v CBA [2017] FCA, para. 5). The private sector has considerable
responsibility in the fight against criminal financing activities by monitoring and providing
intelligence to regulators (Norton 2017). Both prior and during the IDM rollout, CBA failed to
2
carry out money laundering and terrorism financing risk assessment in response to the
suspicious rise in cash deposits through IDMs, and ignored alerts raised by internal
transaction monitoring systems (AUSTRAC v CBA [2017] FCA, para 6). All businesses with
obligations under The Act must be enrolled on The Australian Transaction Reports and
Analysis Centre’s (AUSTRAC) Reporting Entities Roll (AUSTRAC 2018). CBA is therefore
required to report to AUSTRAC any transaction involving a transfer or $10,000 or more
within 10 business days (AUSTRAC v CBA [2017] FCA, para. 9). CBA failed to report 53,506
transactions (94% of all threshold transactions (TTRs)) with a total value of around $624.7
million, to AUSTRAC on time between 2012 and 2015 (AUSTRAC v CBA [2017] FCA, para. 10).
CBA claim this was due to a technical issue caused by a software update (Yeates 2017).
1,640 of the late TTRS were found to be related to money laundering syndicates under
investigation by the Australian Federal Police, with six of the late TTRs related to customers
w.
1 Ethical Analysis of The Commonwealth Bank Money Laund.docxjeremylockett77
1
Ethical Analysis of The Commonwealth Bank Money Laundering Case
Case Facts
Commonwealth Bank of Australia (CBA), founded in 1911, is one of Australia’s leading
providers of ‘integrated financial services, including retail, premium, business and
institutional banking, funds management, superannuation, insurance, investment and
share-broking products and services’ (Commonwealth Bank of Australia 2018). In May 2012,
CBA introduced Intelligent Deposit Machines (IDMs) which accept deposits by both cash and
cheque (Ockenden & Parry 2017). Once deposited, funds are available for immediate
transfer to other accounts domestically and internationally (Chief Executive Officer of The
Australian Transaction Reports and Analysis Centre v Commonwealth Bank of Australia
Limited ACN [2017] FCA, para. 1). IDMs can accept up to 200 notes per deposit (up to
$20,000 per cash transaction), and there are no limits on the number of IDM transactions a
customer can make per day (AUSTRAC v CBA [2017] FCA, para. 2). IDMs allow for
anonymous cash deposits, as a card from any financial institution can be used; if a non-CBA
card is used, the details of the cardholder are unknown (Norton 2017; AUSTRAC v CBA
[2017] FCA, para. 3). Since their introduction in 2012, over $1 billion has been transferred
through IDMs (Ockenden & Parry 2017).
Under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, s. 81, “The
Act”, CBA has a joint Anti-Money Laundering and Counter-Terrorism Financing program,
with procedures it failed to comply with from the beginning of IDM introduction to the
market in 2012 (AUSTRAC v CBA [2017] FCA, para. 5). The private sector has considerable
responsibility in the fight against criminal financing activities by monitoring and providing
intelligence to regulators (Norton 2017). Both prior and during the IDM rollout, CBA failed to
2
carry out money laundering and terrorism financing risk assessment in response to the
suspicious rise in cash deposits through IDMs, and ignored alerts raised by internal
transaction monitoring systems (AUSTRAC v CBA [2017] FCA, para 6). All businesses with
obligations under The Act must be enrolled on The Australian Transaction Reports and
Analysis Centre’s (AUSTRAC) Reporting Entities Roll (AUSTRAC 2018). CBA is therefore
required to report to AUSTRAC any transaction involving a transfer or $10,000 or more
within 10 business days (AUSTRAC v CBA [2017] FCA, para. 9). CBA failed to report 53,506
transactions (94% of all threshold transactions (TTRs)) with a total value of around $624.7
million, to AUSTRAC on time between 2012 and 2015 (AUSTRAC v CBA [2017] FCA, para. 10).
CBA claim this was due to a technical issue caused by a software update (Yeates 2017).
1,640 of the late TTRS were found to be related to money laundering syndicates under
investigation by the Australian Federal Police, with six of the late TTRs related to customers
w ...
This is who investigates fraud and violations concerning real estate and mortgage in Utah. This course describes the rules and what happens to people who violate the rules set forth by the CFPB. It also includes good information for realtors in Utah so they can better protect their clients.
The document discusses insolvency laws in the United Arab Emirates (UAE). It outlines the key pieces of legislation governing insolvency, including limitations of the current framework. The importance of developed insolvency laws for protecting creditors and facilitating investment is highlighted. Main drawbacks of the UAE's existing insolvency system include limited applicability, a slow court-based process, and criminal liability for debtors. The evolution of the insolvency market in the UAE is discussed, along with key proposed features and procedures of a new insolvency law aimed at being less punitive and facilitating reorganization over liquidation.
Compliance implications of crossing the $10 billion asset thresholdGrant Thornton LLP
Since the passage of the Dodd-Frank Act, small regional banks have been forced to rethink their growth strategies as they inch closer to the $10 billion assets threshold. Here’s guidance on navigating the new regulatory field.
The document outlines recommendations for financial regulatory reform, including the creation of a Consumer Financial Protection Agency (CFPA) to consolidate oversight of consumer protection and establish clear rules for mortgages, credit cards, and other financial products. It discusses how the CFPA would eliminate abusive practices like predatory lending and misleading disclosures. The reform proposals also aim to close loopholes, increase oversight of financial firms and markets, and establish mechanisms for winding down failed financial institutions to prevent future crises and protect consumers, investors, and taxpayers.
AllRegs History of CFPB and the Mortgage IndustryAllRegs
Do you work for a mortgage company, real estate company, or financial services organization? Are you having trouble understanding what the Consumer Finance Protection Bureau is and what it does? Are you having trouble explaining CFPB to your staff? View this colorful summary of the History of the CFPB and the Mortgage Industry to learn more!
Mortgage banking has evolved significantly in recent years due to regulatory changes. Stricter rules were implemented to address issues that arose from the subprime mortgage crisis, requiring lenders to establish compliance departments to ensure adherence to regulations. For small and mid-sized mortgage banks, establishing and maintaining an effective compliance department is very costly. As a result, industry experts predict that many small and mid-sized lenders will be forced to close, merge with larger lenders, or sell their business, as generating sufficient revenue to cover the expenses of compliance will be challenging without a high loan volume of at least $25 million per month. Over time, this will likely lead to consolidation in the industry with mostly large national lenders and banks
Tax Havens: The Fight Club of the Tax Industry by Joseph A. GillMonica Pollard
This document provides an overview of a presentation on tax havens given by Joe Gill of McKercher LLP. It discusses the Panama Papers leak, background on tax havens and their defining characteristics. It covers international tax planning techniques like offshore registration, foreign accrual property income, transfer pricing, and bearer shares. The presentation also outlines government actions against tax avoidance, including Canada Revenue Agency audits and efforts by the OECD. It raises questions about balancing tax minimization rights with obligations to pay tax.
HSBC was fined $1.92 billion by US authorities in 2012 for allowing itself to be used to launder money from drug cartels. It failed to properly monitor hundreds of billions of dollars in transactions and had inadequate oversight, with only a few employees reviewing thousands of suspicious wire transfers. Regulators can impose civil fines to deter money laundering, as seen with penalties against HSBC by FINTRAC and FinCEN. These agencies also review financial institutions' anti-money laundering policies and procedures to ensure compliance.
Developments in Personal Insolvency & BankruptcyJim Stafford
Discussion of developments in Irish Personal Insolvency & Bankruptcy legislation with a particular focus on Personal Insolvency Arrangements and the treatment of pensions.
The document discusses anti-money laundering regulations and compliance obligations for financial institutions in India. It covers key topics like the legal framework for AML consisting of the Prevention of Money Laundering Act 2002 and various rules. It describes money laundering processes and the obligations of reporting entities under the act including customer due diligence, record keeping, reporting cash and suspicious transactions to regulators. Global penalties for AML violations in 2021 include a $700 million fine for AmBank in Malaysia and $390 million for Capital One in the US. In India, the number of financial institutions penalized for AML/KYC violations nearly doubled in 2021-22 compared to the previous year.
3 Non-Compliant Financing (pg 8-9) by JasonJason Wong
The document discusses some concerning financing arrangements used by Chinese companies in response to tightened monetary policy. Specifically, it describes how some companies abuse systems like banker acceptances (BAs) and overseas loans with domestic guarantees (OLDGs) to obtain funds beyond their real financing needs. For BAs, companies may falsify trade documents to apply for excessive funds or speculate by buying BAs at a discount and reselling them. For OLDGs, some set up artificial export trades solely to access overseas loans and earn arbitrage gains, without real commercial purpose. While these arrangements can ease cash flows, the document warns they may involve legal and compliance issues if abused, and that overreliance could threaten sustainability if cut off.
Similar to Reduce Your AML Compliance Workload (20)
How to make KYC for AML Compliance More EffectiveAlessa
WATCH WEBINAR: https://www.caseware.com/alessa/webinars-kyc-aml-compliance-more-effective/
In a recent FinCEN advisory the regulator pointed to bad actors using digital manipulation of identity documentation as a significant risk to financial institutions. So what identity verification tools are available to FIs that are fraud resistant and yet easy to use?
In this presentation we take a hands-on approach and show how the integration of CLEAR ID Confirm with the Alessa solution will make digital onboarding and customer reviews so much easier and reliable. We walk-through specific scenarios so you can see what data is available to you and how results can be incorporated into your AML compliance process.
Specific scenarios that we dissect during the session include:
- Onboarding an individual including document verification and due diligence for Know Your Customer
- Onboarding a new business, including reviewing and screening beneficial ownership information, for Know Your Business
- Performing a customer review based on a transaction alert
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
Assessing AML Geographic Risk: a Methodology (November 2020)Alessa
This document outlines a methodology for assessing geographic money laundering risk. It discusses categorizing customer risk elements, including geographic risks. It then covers why geographic risk assessment is important, as well as overviewing common country money laundering risk factors across four categories: AML/CFT regulatory framework, financial transparency and regulations, bribery and corruption levels, and involvement in sanctioned activities. The document provides details on building a country risk methodology, including using public indices for rankings and risk factors. It emphasizes documenting the methodology, educating staff, and regularly updating the underlying country risk data.
Trade-Based Money Laundering: What Compliance Professionals Need to KnowAlessa
WATCH WEBINAR - https://www.caseware.com/alessa/webinars/trade-based-money-laundering/
Hundreds of billions of dollars are laundered every year through trade-based money laundering (TBML). Its sophisticated techniques allow criminals to use legitimate trade to disguise the source of illegal proceeds and transfer value across borders without the use of traditional money movement methods.
Laurie Kelly, CAMS shares her knowledge and experiences gained from 20 years in leading the AML, fraud, and sanctions compliance functions for a $145 billion U.S. financial institution that provided extensive trade finance services for global exports of U.S. agricultural products. Attendees learn the fundamentals of foreign trade and trade finance, and why these long-established processes make it so vulnerable to TBML.
We break down the most common TBML techniques, including the Black Market Peso Exchange, over & under invoicing, and others, using real world case studies. Finally, we review the red flags for these activities and how to incorporate transaction monitoring, sanctioned/restricted party screening, and enhanced customer due diligence to mitigate TBML risks.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
Understanding Money Laundering and Fraud Risks of Wire TransfersAlessa
WATCH WEBINAR: https://www.caseware.com/alessa/webinars/fraud-risks-wire-transfers/
Wire transfers have long been the tool of choice for money launderers and fraudsters. To mitigate these risks to the financial institutions they serve, AML compliance and fraud professionals must understand how wire transfers work, both in the U.S. and globally, as well as be able to recognize the red flags in wire transfer transactions that may indicate money laundering or fraud is taking place through a customer’s account.
In this presentation, Laurie Kelly, CAMS shares her knowledge and experiences gained from 20 years in leading the AML, fraud, and sanctions compliance functions for a $130 billion U.S. financial institution that processed 12,000 to 15,000 wire transfers per day. Attendees will learn about the mechanics of wire transfers, both in the U.S. and globally, and how wire transfers differ from other types of money movement methods. She will then discuss the FinCEN “Travel Rule”, as well as sanctions screening best practices for wire transfers. Finally, Laurie will explore the money laundering and fraud risks and red flags associated with wire transfers and ways to mitigate them.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
Novedades en alessa (antes conocido como case ware monitor)Alessa
VER WEBINAR: https://www.caseware.com/alessa/novedades-alessa/
En este webinar, Ronny Miranda y Benjamin Velazquez del Equipo de Soluciones de CaseWare RCM harán un recorrido por las novedades de la versión más reciente de Alessa, entre las cuales se incluyen mejoras en la seguridad, en los flujos de trabajo y en la gestión de casos, tableros de control y visualizaciones adicionales, soporte para Python y más.
Acompáñenos y conozca de estas nuevas y emocionantes mejoras que el Equipo de Soluciones presentará y que le permitirán obtener el máximo provecho de su solución.
¡No se olviden de seguir a Alessa!
WEBSITE: https://www.caseware.com/alessa/es/
LINKEDIN: https://www.linkedin.com/caseware-alessa
TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE: http://tiny.cc/Alessa
Elements of Customer Risk - Products & Services, Activity Patterns and BehaviorsAlessa
WATCH WEBINAR: https://www.caseware.com/alessa/webinars/elements-customer-risk-products-services-activity-patterns-behaviors/
In this presentation we explore how a customer's anticipated transaction activity, products and services can impact their risk score. We delve into various patterns of higher risk and red flag customer transactions and behaviors, and how these and other factors impact an evolving risk score over the life of the customer relationship.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
Elements of Customer Risk: Profiles and RelationshipsAlessa
WATCH WEBINAR: https://www.caseware.com/alessa/webinars/elements-customer-risk-profiles-relationships/
Customer risk rating is an integral part of the customer due diligence process, yet it can be a difficult tool to implement. The risk tolerance of the organization, what products are used, what data is available and the weighting of each risk factor are just some of the variables that need to be considered to determine whether the overall aggregate score is considered high-, medium- or low- risk.
In Part 1 of this webinar series, Laurie Kelly, CAMS will discuss her experience with calculating risk ratings and things that every financial institution should consider.
Viewers will learn about the objectives and fundamentals of customer risk scoring, as well as a logical way to categorize types of risks. She will then review various risk factors to consider when assessing customer risk from a demographic/profile and relationships perspective.
Finally, Laurie will explore separately individual and business/commercial customers risk factors but with a greater focus on business customers, which have more nuanced and complex risk considerations.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
Beneficial Ownership Rules: Global and Canada PerspectiveAlessa
WATCH WEBINAR: https://www.caseware.com/alessa/webinars/beneficial-ownership-us-canada-eu-rules/
Legislation and regulations around beneficial ownership information is changing across various jurisdictions: Private registry? Public registry? Access? Information collected? Obligations? Privacy? - there are many issues and aspects to consider.
In this presentation, James Cohen, Executive Director at Transparency International (TI) Canada, provides an overview of current corporate transparency regulations across various jurisdictions and the status of their implementation. He will pay special attention to the progress that has been made in Canada – both at a provincial and federal level.
Finally, James will outline the framework that TI Canada has set forth for a made-in-Canada registry and the reasons for their position.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
Tackling Hidden Risks in AML Sanctions Screening ProgramsAlessa
This document discusses challenges with anti-money laundering (AML) screening programs, including:
1. Screening programs require regular audits to ensure personnel, data, software, and reporting are properly configured as assumptions can be dangerous.
2. Reference data and client data flows must be analyzed, and screening software tested to identify how names and identifiers are screened and matched given global variations.
3. False positive rates should be benchmarked by geography and business to measure changes over time as configurations are updated. Addressing these challenges can help financial institutions strengthen their AML compliance.
Writing Effective Suspicious Activity Reports (SARs): Start with WHYAlessa
WATCH WEBINAR: https://www.caseware.com/alessa/webinars/effective-sar-suspicious-activity-report-writing/
This presentation addresses effective Suspicious Activity Report (SAR) writing in the context of the SAR’s ultimate purpose: to assist law enforcement in investigation and subsequent prosecution of criminal activity.
After an introduction on how submitted SAR data is reviewed and stored, the presentation provides recommendations for constructing an effective SAR narrative. It also reviews the appropriate use of SAR form checkboxes, the SAR attachment feature, and the distinction between “new” and “continuing activity” SARs.
Finally, it will introduce the concept of SAR case reports as an effective tool in case management as well as providing valuable detailed information to law enforcement upon request.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
A Regulatory Understanding of Virtual Assets (Cryptocurrency) Types and their...Alessa
WATCH WEBINAR: https://www.caseware.com/alessa/webinars/regulatory-understanding-virtual-assets-types/
In early 2019, FATF released their guidance for a risk-based approach to Virtual Assets and Virtual Asset Service Providers. While the guidance, provided general information on how to understand and mitigate money laundering and trade financing risks, it did not provide specific information about how to address specific risks associated with the various types of virtual assets.
This presentation details each type of virtual asset in the market, their relative traffic volume, and regulatory issues related to each one. It also reviews key features of different virtual asset types and understand how to properly risk profile each virtual asset type for their institution.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
Webinar: Strategies to Enhance your Screening and Transaction Monitoring Proc...Alessa
WATCH WEBINAR: https://www.caseware.com/alessa/webinars/strategies-to-enhance-your-screening-and-transaction-monitoring-processes/
Transaction monitoring and sanctions screening are crucial processes for both traditional and non-traditional financial institutions. With changing regulations coupled with increased regulatory scrutiny being the new normal, having a streamlined and flexible approach has become more important for AML Compliance teams looking to improve cost savings and resource allocation.
In this webinar, our presenters from ICICI Bank and Transfast join CaseWare RCM to discuss
• How to assess and factor risk criteria such as regulatory, country, customer and services risks;
• Data elements to consider when determining lists selection and customer and/or transactions attributes
• Policies and procedures to determine monitoring and screening type and frequency as well as management of high risk situations
• Strategies for increasing detection of real reportable activities and reducing false positives and time for investigations
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
Status of Beneficial Ownership Transparency in CanadaAlessa
CaseWare RCM hosted an event with Transparency International Canada to discuss the state of beneficial ownership regulations in Canada. Here is what they had to say.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
WEBINAR: What Financial Institutions need to know about CryptocurrenciesAlessa
https://www.caseware.com/alessa/webinars/what-fis-need-know-cryptos/
Facebook’s Libra announcement once again sparked a fury of discussions around the role of digital currencies in the banking system. The reality is, cryptocurrencies are here to stay and financial institutions need to apply the same risk management activities as with any other product. So what does this entail?
In this presentation, Dan Peak, Board Advisor at CaseWare RCM and former CEO for World-Check and Greg Pinn, Head of Product Strategy at iComply Investor Services will walk the audience through a systematic process that every financial institution should go through when evaluating the risks associated with cryptocurrencies and effective mitigation strategies.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
An Executive Guide on How to Use Machine Learning and AI for AML ComplianceAlessa
Increasing use of machine learning (ML) and artificial intelligence (AI) in the detection and prevention of financial crimes is providing financial institutions the opportunity to perform massive computations and detect patterns that were previously undetectable with rules-based analytics.
In this webinar you will learn:
How data science uses models and patterns to detect anomalies
How the responses to these can be used to prevent future suspicious transactions or false-positives
This webinar is designed for senior compliance executives who are required to have sufficient knowledge of data science to enable a more data and analytic-driven approach to fighting money laundering and other financial crimes.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
AML compliance is a tough job and requires constant attention in order to meet changing requirements and fraud scenarios. Read about one way to reduce your AML compliance workload.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
Sanctions List Screening with World-Check and CaseWare Alessa
Get the most comprehensive sanctions list screening capability available today with CaseWare AML Compliance and the Thomson Reuters World-Check database.
WHAT IS CASEWARE AML COMPLIANCE?
As part of their anti-money laundering (AML) compliance programs, financial institutions and other organizations must take measures to ensure they are not doing business with sanctioned individuals, groups or countries. CaseWare AML Compliance is a solution that has Know Your Customer (KYC), transaction monitoring, sanctions list screening, and regulatory reporting capabilities in a single platform, allowing businesses to fulfill all key areas required by AML regulations.
By adopting this solution, compliance teams have at their fingertips advanced and configurable analytics, visualizations, workflows, alerts and case management capabilities. Organizations can identify high-risk individuals and entities; detect suspicious transactions; manage investigations and compliance risks through automated workflows; and electronically file reports to regulators.
THOMSON REUTERS WORLD-CHECK DATABASE
CaseWare AML Compliance is integrated with Thomson Reuters World-Check database, which currently includes more than 100,000 sources. Hundreds of global researcher analysts review more than 530 sanction, watch and regulatory law and enforcement lists in addition to thousands of other sources of information related to politically exposed persons (PEPs) and individuals and entities not found on official lists daily. This makes World-Check the most comprehensive and up-to-date sanctions list available today.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
Strengthen Your AML Compliance Program with Data Mining Alessa
Data mining is a critical component of any compliance program. By helping identify hidden patterns, discover unknown relationships in your data, and predict behaviours and trends, data mining can be a strategic part of your business. In this webinar, we will examine data mining techniques that can be used to identify risk factors in your compliance program, monitor customer activity and provide insights into your overall business.
KEY TAKEAWAYS:
Examine the impact of data mining as a means of fraud detection
Understand how to combine technology and human behaviour to identify fraud and other financial crimes
Learn data mining strategies you can incorporate into your continuous controls monitoring and compliance programs
Explore real-world case studies that illustrate how to apply data mining techniques
A recording of this event can be found here: https://www.casewareanalytics.com/webinars/sanctions-risk-whats-problem
Sanctions risk screening and compliance is complicated and can be open to interpretation, leading financial institutions to unwittingly--or even unknowingly--put their AML compliance programs at risk by completing transactions that regulators may deem illicit or illegitimate.
In this webinar, our experts will discuss why sanctions are imposed, breaking the topic down granularly to help financial institutions and other organizations understand their areas of risk while also having a firm grasp on relevant international legal requirements and established conventions.
The Ipsos - AI - Monitor 2024 Report.pdfSocial Samosa
According to Ipsos AI Monitor's 2024 report, 65% Indians said that products and services using AI have profoundly changed their daily life in the past 3-5 years.
We are pleased to share with you the latest VCOSA statistical report on the cotton and yarn industry for the month of March 2024.
Starting from January 2024, the full weekly and monthly reports will only be available for free to VCOSA members. To access the complete weekly report with figures, charts, and detailed analysis of the cotton fiber market in the past week, interested parties are kindly requested to contact VCOSA to subscribe to the newsletter.
Predictably Improve Your B2B Tech Company's Performance by Leveraging DataKiwi Creative
Harness the power of AI-backed reports, benchmarking and data analysis to predict trends and detect anomalies in your marketing efforts.
Peter Caputa, CEO at Databox, reveals how you can discover the strategies and tools to increase your growth rate (and margins!).
From metrics to track to data habits to pick up, enhance your reporting for powerful insights to improve your B2B tech company's marketing.
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This is the webinar recording from the June 2024 HubSpot User Group (HUG) for B2B Technology USA.
Watch the video recording at https://youtu.be/5vjwGfPN9lw
Sign up for future HUG events at https://events.hubspot.com/b2b-technology-usa/
Open Source Contributions to Postgres: The Basics POSETTE 2024ElizabethGarrettChri
Postgres is the most advanced open-source database in the world and it's supported by a community, not a single company. So how does this work? How does code actually get into Postgres? I recently had a patch submitted and committed and I want to share what I learned in that process. I’ll give you an overview of Postgres versions and how the underlying project codebase functions. I’ll also show you the process for submitting a patch and getting that tested and committed.
2. $8.83B IN FORFEITURES ON BNP
• $140 million in fines
• BNP sentenced to five years probation
• Said to be functioning as the “central bank for
the government of Sudan”
• Heavy fines were meant to act as a warning to
other financial institutions
These fines could have been even higher – this
sentence was imposed following the terms of a
heavily negotiated plea deal.
3. HSBC PAYS £28M IN FINES
• Seized 10 years of files from compliance team
• “Organizational failings” found at fault for AML
violations
• Imposed after a previous $1.9 billion fine for its
role in aiding money laundering by Mexican
drug cartels
Despite previous heavy fines and changes, HSBC
was still unable to avoid new penalties.
4. If you don’t meet the legal
requirements, you will face hefty
fines, reputational damage and
criminal charges.
26. MUCH TO GAIN FROM ONE PLATFORM
Single Platform to help easily oversee all of your compliance requirements.
Complete Picture of all your AML risks and data
Optimal process to help engage all stakeholders in compliance efforts.
27. IT’S TIME TO TAKE CONTROL OF
YOUR COMPLIANCE PROGRAM
www.casewareanalytics.com
aml@caseware.com