by Radhika Lipton | Oct 4, 2022 | RADD BUZZ
Jump to section Toggle What is BSA/AML Risk Assessment?Step 1: Identify Your Risk Categoriesa. Customer risk factorsb. Product, services and transaction risk factorsc. Delivery channel risk factorsd. Geographical risk factorsStep 2: Analyze The Information Collected... 
by Radhika Lipton | Sep 23, 2022 | RADD BUZZ
Jump to section Toggle 1. Define your areas of regulatory risk exposure 2. Expand the scope of your compliance program3. Centralize regulatory compliance4. Review your business processes5. Manage risk by identifying regulatory gaps6. Implement strong regulatory change... 
by Radhika Lipton | Sep 14, 2022 | RADD BUZZ
Jump to section Toggle 1. Management and Cultural Differences2. Non-compliance with Regulations3. Cybersecurity Breaches4. Bank Secrecy Act/ Anti-money laundering (BSA/AML)5. Violation of Intellectual Property Rights (IPR)6. Insufficient Information Security... 
by Radhika Lipton | Aug 28, 2022 | RADD BUZZ
Jump to section Toggle Pillar 1: Internal ControlsPillar 2: AML OfficerPillar 3: TrainingPillar 4: Independent ReviewPillar 5: Customer Due DiligenceFinal Thoughts All over the world, there are stringent laws that require banks to implement measures against money... 
by Radhika Lipton | Aug 15, 2022 | RADD BUZZ
Jump to section Toggle 1. Cybersecurity2. Third-party relationships3. Payment Fraud4. Misuse of confidential information by employees5. Time and resource shortagesConclusion In the financial industry, regulations are a big deal. You have to comply with them to stay in... 
by Radhika Lipton | Aug 2, 2022 | RADD BUZZ
Jump to section Toggle Bank Secrecy Act & Anti-Money Laundering ComplianceState Level Fixes: PennsylvaniaHow would SAFE Banking Change Cannabis Banking?Rescheduling Cannabis is the Only Permanent Fix For most businesses in America, banking is a straightforward... 
by Radhika Lipton | Jun 11, 2022 | RADD BUZZ
Jump to section Toggle Best Types of Fintech Companies to Partner With1. Digital Account Onboarding2. Transaction Processing3. Data Analytics4. Artificial Intelligence5. Faster Payments6. Digital Loans7. Cybersecurity8. Honorable MentionsAligning an... 
by Radhika Lipton | Apr 15, 2022 | RADD BUZZ
Jump to section Toggle Protect the institution from potential breachesEvaluate vendors’ ability to identify and resolve incidentsSafeguard customer dataIdentify low and medium-risk vendors to ensure proper resources are allocated to high-risk and critical... 
by Radhika Lipton | Apr 5, 2022 | RADD BUZZ
Jump to section Toggle Advantages of Risk Assessments and Internal Audit Usage in Compliance StrategyEnhanced Risk ManagementBetter Combined AssuranceMerged FocusLess Audit OverlapCreating a Compliance CultureConclusion To have an effective compliance strategy,... 
by Radhika Lipton | Mar 27, 2022 | RADD BUZZ
Jump to section Toggle Why was the Community Reinvestment Act created? How does CRA affect my institution? What is the Community Reinvestment ActSB and ISB Asset Threshold CRA Expectations for SBs VS ISBsHow to Prepare for the CRA How to Pass the CRA EvaluationPublic...