Updating AML Compliance Programs: Integrating FinCEN’s AML Priorities

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Updating AML Compliance Programs: Integrating FinCEN’s AML Priorities

As the landscape of financial crime continues to evolve, financial institutions must stay vigilant and prepared to address emerging risks. In this regard, aligning anti-money laundering (AML) programs with the Financial Crimes Enforcement Network (FinCEN) AML Priorities becomes crucial. This article explores the significance of integrating the FinCEN AML Priorities into AML programs and provides step-by-step suggestions to ensure preparedness for regulatory examinations.

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Spotlighting Key Organizations Championing LGBTQ+ Rights

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Spotlighting Key Organizations Championing LGBTQ+ Rights

Pride Month is celebrated every June as a time to honor, support and raise awareness of the LGBTQ+ community. The history of Pride Month dates back to the Stonewall riots in June 1969, which sparked the modern LGBTQ+ rights movement. Today, Pride Month is a time to celebrate the achievements of the LGBTQ+ community and to advocate for greater equality and acceptance. For those who identify as LGBTQ+ or are allies, it's an opportunity to learn more about the community and support their rights.

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Fraud Perspectives: Nonfungible Tokens  

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Fraud Perspectives: Nonfungible Tokens  

In the third webinar of the Fraud Perspectives series, presented by the Association of Certified Fraud Examiners (ACFE) and The Institute of Internal Auditors (IIA), Mason Wilder, Research Manager at the ACFE, chatted with Kishan Patel, CIA, CITP, CPA, and Chris DeAngelis, CFE, about nonfungible tokens (NFTs) and their role in the current anti-fraud landscape. A confusing and often abstract concept, NFTs have made headlines recently as an innovative new technology with the potential to revolutionize various industries. While NFTs offer numerous benefits, such as increased security and unique ownership, they also present new fraud risks. Understanding these risks and how to mitigate them is essential for organizations that are considering investing in NFTs. 

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Financial Literacy for a Better Tomorrow 

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Financial Literacy for a Better Tomorrow 

In this article, I want to share something very important: financial literacy. According to the Wiley Online Library, “Financial literacy is the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being" Sounds pretty useful, right? But how do we learn financial literacy? And when should we start? 

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Falsifying Business Records: Federal Regulations and State Laws

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Falsifying Business Records: Federal Regulations and State Laws

Federal law does not explicitly criminalize falsifying business records, but the act is criminalized under several federal regulations. Additionally, many states consider it a crime and sometimes prosecute it with other crimes, such as grand larceny or insurance fraud. In New York, falsifying business records is not an uncommon charge and can be either a misdemeanor or a felony, depending on the circumstances. The aggravating circumstance occurs when the “intent to defraud includes an intent to commit another crime or to aid or conceal the commission thereof.” One example of this is changing a record to cover larceny.   

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