23 04, 2024

ACAMS Hollywood 2024 Conference Recap: Unveiling Strategies to Combat Financial Crime

2024-04-23T09:11:21-04:00

The recent ACAMS conference in Hollywood, FL, served as a pivotal platform for stakeholders in the financial industry to converge and strategize on combating illicit finance, enhancing compliance measures, and addressing emerging threats. Here's a comprehensive recap of the key highlights and insights from the event:  Focus on Preventing Financing to Conflict Zones: Regulators and financial institutions (FIs) emphasized the importance of preventing funds and materials from reaching conflict zones, particularly in the context of [...]

ACAMS Hollywood 2024 Conference Recap: Unveiling Strategies to Combat Financial Crime2024-04-23T09:11:21-04:00
25 03, 2024

Unveiling Trends: FinCEN’s Analysis on Virtual Currency and Human Trafficking

2024-03-25T16:38:55-04:00

In its ongoing efforts to combat illicit financial activities, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has released a Financial Trend Analysis (FTA) shedding light on the intersection of convertible virtual currency (CVC) and online child sexual exploitation (OCSE) and human trafficking. This analysis, based on Bank Secrecy Act (BSA) reporting from January 2020 to December 2021, reveals concerning trends that underscore the need for heightened vigilance and cooperation across financial [...]

Unveiling Trends: FinCEN’s Analysis on Virtual Currency and Human Trafficking2024-03-25T16:38:55-04:00
25 03, 2024

Enhancing Transparency: FinCEN’s Proposal to Combat Money Laundering in U.S. Real Estate

2024-03-25T16:36:24-04:00

As we usher in the new year, U.S. businesses are bracing themselves for a significant shift in regulatory requirements. Effective January 1, 2024, the Financial Crimes Enforcement Network (FinCEN) will enforce the Corporate Transparency Act (CTA), compelling most U.S. companies to report ownership information. This marks a pivotal moment in the fight against tax fraud, terrorism, and money laundering, with implications that extend to businesses of all sizes, including clients served by Vital4.  The U.S. [...]

Enhancing Transparency: FinCEN’s Proposal to Combat Money Laundering in U.S. Real Estate2024-03-25T16:36:24-04:00
5 02, 2024

Update: Russian Invasion of Ukraine – Sanctions

2024-02-05T11:44:44-05:00

Last Updated 2-5-24 For the latest information, Click here. December 2023 The Biden administration issues a new executive order taking additional steps to sanction Russia. The amendments affect earlier executive orders, including 14024 (April 15, 2021), 14066 (March 8, 2022), 14039 (August 20, 2021), 14068 (March 11, 2022), and 14071 (April 6, 2022). The US Treasury issues a new guidance in line with the new executive order. Switzerland implements a new round of sanctions mirroring the European Union’s 12th sanctions package [...]

Update: Russian Invasion of Ukraine – Sanctions2024-02-05T11:44:44-05:00
15 11, 2023

Navigating the New FinCEN Reporting Requirement: What U.S. Businesses Need to Know

2023-11-16T11:56:12-05:00

As we usher in the new year, U.S. businesses are bracing themselves for a significant shift in regulatory requirements. Effective January 1, 2024, the Financial Crimes Enforcement Network (FinCEN) will enforce the Corporate Transparency Act (CTA), compelling most U.S. companies to report ownership information. This marks a pivotal moment in the fight against tax fraud, terrorism, and money laundering, with implications that extend to businesses of all sizes, including clients served by Vital4.  Understanding the [...]

Navigating the New FinCEN Reporting Requirement: What U.S. Businesses Need to Know2023-11-16T11:56:12-05:00
26 04, 2023

2023 PBSA Mid-Year Conference Recap

2023-04-26T15:19:21-04:00

Attending industry events is the best way to connect with peers, clients, and new potential partners. The recently concluded PBSA Mid-Year Conference was no exception. One Vital4 team member described the event as a “family reunion,” a testament to the camaraderie among the attendees. It was an opportunity to meet and connect with new people, hear about industry trends, and exchange ideas on how to improve business practices. Apart from the networking opportunities, our team was also [...]

2023 PBSA Mid-Year Conference Recap2023-04-26T15:19:21-04:00
21 09, 2022

2022 PBSA Annual Conference Recap

2022-09-22T11:10:08-04:00

I have attended over a dozen PBSA conferences over the years, but this might just be the best one yet! With a total of 874 attendees from around the globe, there was a great turn out in Denver. It was wonderful to see old friends and meet new ones, and the mountain scenery from the Gaylord wasn’t too bad either.   Dressed in Vital4 branded Patagonia vests, the Vital4 team was moving and shaking all over the [...]

2022 PBSA Annual Conference Recap2022-09-22T11:10:08-04:00
12 07, 2022

AML/KYC for CRAs – Webinar Recap

2022-07-12T13:54:59-04:00

Last month's webinar focused on the importance of AML/KYC to background screening and why CRAs, in particular, should focus on it.  Panelists Amy Barbieri, Kym Kurey, and Kristin Stafford covered a variety of the industry's latest trends, ranging from crypto to compliance and the importance of integrated monitoring services. Here are a few key takeaways from the webinar.  Digital transformation is an industry-wide hot topic and is being implemented into many screening processes. Whether it be [...]

AML/KYC for CRAs – Webinar Recap2022-07-12T13:54:59-04:00
12 08, 2021

Why People Are Exploring New Options with Compliance and Risk Management relating to global AML regulatory requirements

2021-08-12T11:16:53-04:00

While legacy providers have been around the longest, many of them have antiquated solutions that are no longer the best in the market. For that reason, people are beginning to explore new options when it comes to managing compliance risk. The industry has had to adapt and evolve particularly over the last year. With regulations changing frequently, and a record increase for money laundering and regulatory fines, which are expected to continue rising, there has never [...]

Why People Are Exploring New Options with Compliance and Risk Management relating to global AML regulatory requirements2021-08-12T11:16:53-04:00
25 06, 2021

AML Act of 2020

2021-08-04T12:51:11-04:00

Wealthy and influential individuals and companies have used anonymous entities to hide their wealth, as evidenced in the 2016 Panama Papers and 2020 FinCEN Files Investigations. In January 2021, the FY 2021 National Defense Authorization Act became law, including the Anti-Money Laundering Act of 2020 (AMLA 2020). Part of the AMLA 2020 is the Corporate Transparency Act (CTA). The AMLA 2020/CTA amends the Bank Secrecy Act (1970) (among other things) to require that companies (corporations, limited [...]

AML Act of 20202021-08-04T12:51:11-04:00

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