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The Dangers of BSA/AML and OFAC Risk | VendorInsight®

Posted by Rachel McKenzie on Oct 11, 2019 9:17:27 AM

A Risk-Based Approach to BSA/AML and OFAC Compliance 

How much do you know about your third-party vendors? Could your subcontractors be laundering money used to finance drug cartels, terrorist organizations or other illegal activities? It’s not as far-fetched as you might imagine. Without your knowledge, your bank or credit union may be non-compliant with requirements in the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML).

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Topics: BSA/AML, OFAC Compliance

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