by Liz DeMarco | Apr 10, 2025 | Compliance Chronicles
Did you know examiners have recently been issuing consent orders due to Inadequate Data Governance? As we started off the year, we took a look back at a few of the BSA/AML consent orders issued by various regulatory agencies in 2024 and noticed that a constant theme...
by Liz DeMarco | Apr 10, 2025 | Knowledge Base, OFAC Compliance
Part 5: OFAC Independent Audits and Evaluations By: Maleka Ali Probably the best control an organization has in its OFAC controls arsenal is an OFAC scanning system. However, some organizations have been criticized for being too reliant on those systems when...
by Liz DeMarco | Apr 8, 2025 | Knowledge Base, OFAC Compliance
Part 4: Internal Controls to Lower Your Inherent Risk of an OFAC Violation By: Maleka Ali During Parts 1 through 3 of our OFAC series, we reviewed program basics, building your risk assessment methodology and tips and tricks for your risk assessment. Now,...
by Liz DeMarco | Apr 7, 2025 | Knowledge Base, OFAC Compliance
Part 3: Tips and Tricks for a Successful OFAC Risk Assessment By: Maleka Ali OFAC risk assessments are the strength of any well-built OFAC compliance program. An efficient and effective program cannot be developed without knowing where the risks are hiding....
by Liz DeMarco | Apr 6, 2025 | Knowledge Base, OFAC Compliance
Part 2: OFAC Risk Assessment Methodology By: Maleka Ali Your company’s OFAC risk assessment is what drives your OFAC program’s policies and procedures and allows examiners to identify the strengths and weaknesses of your program. The FFIEC BSA/AML Exam Manual...
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