Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Bill Steinman
Contributing Editor

Lindsay Columbo: How did due diligence become so complicated?

Over the past several years, concepts that once served as basic elements to an appropriate customer due diligence program and that had simple definitions have morphed into requirements that are completely decentralized and that vary, based on factors such as geographical location, risk level, industry and business activity.… Continue Reading

FinCEN launches voluntary information exchange

The Treasury Department’s Financial Crimes Enforcement Network launched an information exchange program to help banks deal with financial threats.

FinCEN said earlier this month the exchange will work “in close coordination with law enforcement.”

The program will include regular briefings with financial institutions to exchange information on “priority illicit finance threats.”

FinCEN said it hopes the exchange will help it and law enforcement receive information “to disrupt money laundering and other financial crimes.”

Sigal Mandelker, Treasury Under Secretary for Terrorism and Financial Intelligence, said: “Strong public-private partnerships and two-way information sharing is a crucial component of our efforts to combat the sophisticated money laundering methods and evolving threats we face today.”

She said the exchange program “can help identify vulnerabilities and disrupt terrorist financing, proliferation financing and other financial crimes.”

FinCEN already collects financial intelligence from financial institutions.… Continue Reading