by Radhika Dholakia-Lipton | Aug 31, 2024 | RADD BUZZ
In today’s rapidly evolving financial landscape, regulatory requirements are constantly shifting, placing increased pressure on financial institutions to stay compliant. From new anti-money laundering (AML) regulations to heightened data protection standards,...
by Radhika Dholakia-Lipton | Aug 31, 2024 | RADD BUZZ
Maintaining a strong BSA/AML (Bank Secrecy Act/Anti-Money Laundering) program is crucial for financial institutions to ensure compliance and avoid costly penalties. The standards set by the Federal Financial Institutions Examination Council (FFIEC) demand that...
by Radhika Dholakia-Lipton | Aug 23, 2024 | RADD BUZZ
Selecting the right Audit Firm is one of the most crucial decisions an institution or fintech company can make. The audit firm you choose will not only ensure your compliance with regulatory standards but also provide insights that can significantly enhance your...
by Chinedu Nnadi | Aug 22, 2024 | RADD BUZZ
When it comes to internal audits, the selection of the right audit partner can make or break the process. A well-crafted Request for Proposal (RFP) is your first and most crucial step in ensuring that you engage with a firm that not only understands your unique needs...
by Radhika Dholakia-Lipton | Aug 22, 2024 | RADD BUZZ
Counterfeit check fraud remains a significant threat in banking, even as technology and security measures advance. Fraudsters use sophisticated techniques to create fake checks that closely resemble legitimate ones, making detection challenging. This type of fraud can...
by Radhika Dholakia-Lipton | Aug 22, 2024 | RADD BUZZ
In today’s rapidly evolving business landscape, the importance of a robust internal audit function cannot be overstated. At the heart of every successful internal audit lies a well-crafted risk assessment, a critical process that helps organizations identify,...
by Chinedu Nnadi | Aug 22, 2024 | RADD BUZZ
Great News! ???? We are thrilled to announce that RADD LLC has been selected to partner with an $810M Credit Union to conduct a special review of their consumer lending portfolio. Our focus will be on analyzing and enhancing practices related to defaults, ensuring...
by Chinedu Nnadi | Jul 28, 2024 | RADD BUZZ
RTP® Network and FedNow® Service, the two central US instant payment rails, have shown how the speed of instant payments amplifies the need for robust risk management strategies for participating financial institutions (FIs). The Federal Reserve, which backs FedNow®...
by Chinedu Nnadi | Jul 19, 2024 | RADD BUZZ
The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) establishes mandatory requirements for the licensing of mortgage loan originators, enhancing consumer protection and reducing fraud within the mortgage industry. This blog post explores the...
by Chinedu Nnadi | Jul 19, 2024 | RADD BUZZ
In this blog post, we explore the Fair Credit Reporting Act (FCRA), which regulates the collection, distribution, and protection of consumer credit information. Understanding and complying with the FCRA is crucial for businesses involved in credit reporting, consumer...
