Entries by riskratoradmin

Mastering AML & Sanctions risk

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Adequately capturing a financial institution’s risk profile requires at its core, an accurate risk assessment.  RiskRator provides a cloud based, AML/CFT & Sanctions Risk Assessment process utilizing a transaction-based methodology guided from start to finish by Compliance professionals, resulting in the most accurate and agile risk assessment in the industry.  Contact us for more information: https://riskrator.com/faq/

Strengthen and modernize financial institutions

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Anti-Money Laundering and Countering the Financing of Terrorism Programs

Action: Proposed rulemaking.

Summary: FinCEN proposes a rule to modernize anti-money laundering (AML) and countering the financing of terrorism (CFT) programs under the Anti-Money Laundering Act of 2020. Financial institutions will be required to establish effective, risk-based AML/CFT programs that include mandatory risk assessments and incorporate government-wide priorities. The proposal also aims to ensure consistency across rules for different types of financial institutions.