United States

Key BSA/AML takeaways from the 2015 FIBA conference

Where banks should focus today

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This year's Florida International Bankers Association(FIBA) conference included a variety of sessions that focused on key Bank Secrecy Act and anti-money laundering (BSA and AML) issues directly affecting financial institutions today. Those topics include:

  • Hot BSA/AML topics for banks and regulators, including de-risking, developing and maintaining a culture of compliance, and information sharing under section 314(b) of the USA Patriot Act
  • BSA/AML technology from both bank and regulator perspectives—what's working and what isn't
  • How to manage the risks of correspondent banking
  • What changes in the Department of the Treasury's Office of Foreign Assets Control sanctions against Cuba mean for:
    • Credit card transactions
    • Wire transfers
    • Trade finance
    • Accounts for Cuban nationals
    • Correspondent accounts
    • Travel restrictions
    • Remittances
    • Cuban currency issues

Key BSA/AML takeaways from the 2015 FIBA conference offers timely insights into many of your institution's most pressing BSA/AML concerns.