The Payments Association

APRIL 23, 2025

Additional outgoing transfers are stopped, and a Suspicious Activity Report (SAR) is filed within the regulatory deadline. AML systems identify a pattern of low-value incoming and outgoing transfers tied to multiple institutions. Network analytics identify connections to other mule accounts.

AML 88

AML Suspicious Activity Report (SAR) Addressing Fraud Prevention 88

PYMNTS

SEPTEMBER 21, 2020

Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) show that several of the largest global banks moved money on behalf of scores of individuals and enterprises involved in criminal financial activity.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) SARS 139

PYMNTS

NOVEMBER 15, 2017

Wells Fargo Advisors and the Securities and Exchange Commission (SEC) reached a settlement this week resolving charges that the bank dropped the ball in reporting suspect activities pertaining to money laundering for several years. According to a MarketWatch report published Tuesday (Nov.

Suspicious Activity Report (SAR) 62

Suspicious Activity Report (SAR) Money Laundering AML SARS 62

PYMNTS

DECEMBER 3, 2019

Banks no longer have to submit a suspicious activity report (SAR) just because a business is growing or cultivating hemp. Financial institutions should follow standard SAR procedures and submit a report only if there is questionable behavior.

Suspicious Activity Report (SAR) 55

Suspicious Activity Report (SAR) BSA Rules Office of the Comptroller of the Currency 55

PYMNTS

MARCH 4, 2020

Bank $185 million for numerous offenses, including “willfully violating” BSA mandates for having an anti-money laundering (AML) procedure. The bank had also neglected to submit suspicious activity reports (SARs) on time. Department of Justice (DOJ) to penalize U.S. The OCC also warned U.S.

AML 52

AML Suspicious Activity Report (SAR) Fincen BSA 52

Stax

DECEMBER 4, 2023

TL;DR An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. Let’s get started.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

FICO

JANUARY 8, 2018

He noted three ways AI systems improve on traditional AML solutions: More effective than rules-based systems: “As regulations become ever more demanding, the rules-based systems grow more and more complex with hundreds of rules driving know your customer (KYC) activity and Suspicious Activity Report (SAR) filing.

AML 53

AML Posting AI Suspicious Activity Report (SAR) 53