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How to avoid costly BSA enforcement actions: Proactive steps for bank compliance

Abrigo

These actions can result in costly civil penalties and reputational damage, so banks and credit unions should take proactive steps to ensure their BSA compliance programs are robust and effective. Although the above example is a large bank, similar enforcement actions are being handed down to community banks.

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Investment accounting compliance: How technology helps

Abrigo

Meeting investment accounting and reporting requirements The right technology tools can help institutions manage investment accounting compliance and risk exposure across various investment types. Compliance with investment accounting and reporting requirements plays a central role in ensuring operational efficiency and regulatory adherence.

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Cannabis lending for financial institutions: Opportunities, risks, and best practices

Abrigo

Federal regulations under the Controlled Substances Act (CSA) still classify marijuana as a Schedule I substance, along with heroin and methamphetamine. With the right approach, the rewards may outweigh the risks, creating opportunities for both financial institutions and the communities they serve.

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DevSecOps Best Practices ? Automated Compliance

Perficient

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. As a best-practice it is recommended to adopt automation of certain security audits, integration of compliance oversight into key development process areas (e.g. Data Stewardship.

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Generative AI in credit risk management: A game changer for loan review

Abrigo

As financial institutions deal with growing portfolios, evolving regulations, and a shifting workforce, maintaining consistency in credit risk assessment is more difficult than ever. These tools are built with data encryption, robust access controls, and compliance baked in from the start.

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Brad M. Bolton: Compliance as a focal point

Independent Banker

In today’s intense regulatory landscape, compliance extends to every aspect of banking, so much so that no one person or team can be solely charged with managing a bank’s compliance requirements. In fact, compliance has grown to become a massive responsibility that must be part of every employee’s job. My top three.

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10 NBFI AML Compliance Essentials

Abrigo

What NBFIs Should Know About Their AML Programs NBFI AML compliance requirements are top of mind in today's regulatory environment. Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. NBFIs’ AML compliance requirements. DOWNLOAD . Competing with Banks.