Virtual currencies under eye – and rules – of FinCEN, Director Shasky Calvery says in ACFCS podcast

Listen below Virtual currencies are “gaining traction in the United States and around the world as a legitimate payment system,” FinCEN Director Jennifer Shasky Calvery, said in a podcast on on November 13. Director Shasky made clear, however, that “virtual currencies appear as a new player in the payment system and at FinCEN, as […]

Properly deployed, technology can reduce FCPA risks and help overall compliance, says Datacert’s Daniel DeJuan

As the complexities of complying with the US Foreign Corrupt Practices Act (FCPA) continue increasing, financial institutions and other corporations hope to leverage their technology to help them in the complex tasks. The ideal technology that suits this purpose is like a financial hub that brings in information from other systems and allows a high […]

Prosecutor of Wegelin Bank dissects far-reaching US-Swiss agreement, shows dangers to US correspondent banks

Date: September 24, 2013 The historic accord of August 29 between the United States and Switzerland, which imposes harsh and expensive penalties on Swiss banks for aiding and abetting US tax evasion, is remarkable for several reasons, including the surprising fact that Switzerland, the world’s most famous tax secrecy haven, would agree to it at […]

Reducing cybercrime risk requires ‘IT governance’ and more, says e-risk expert Allison Walton

Date: September 18, 2013 Few areas of financial crime are evolving more rapidly, or posing more sophisticated threats, than cybercrime, which has spawned a whole industry in cybersecurity and a growing number of specialized compliance officers. As cyber criminals deploy new strategies to pierce the digital defenses of organizations, cybersecurity stakeholders are struggling to improve […]

Everyone talks about ‘Forensic Accounting,’ but what is it, who does it, where is it done? John Lash tells you

Date: August 13, 2013 In the past 15 years, the terms ‘forensic accounting’ and ‘forensic accountant’ have become important parts of the financial crime lexicon and more widely heard each day. What is this specialization? What does ‘forensic accounting’ entail? Is there a body that regulates persons who practice it? Who uses ‘forensic accountants’? Forensic […]