Financial Crimes Enforcement Network

FinCEN REPORT Named as a Startup-to-Watch by Atlanta Business Chronicle's Prestigious Inno Awards

Retrieved on: 
Wednesday, February 28, 2024

ATLANTA, Feb. 28, 2024 /PRNewswire/ -- FinCEN REPORT, a beneficial ownership reporting service that helps U.S. companies comply with the new Corporate Transparency Act (CTA), received the honor of being named in the Atlanta Inno's 2024 Startups to Watch list by Atlanta Business Chronicle. This exclusive list from Atlanta Inno features 25 startups based in Atlanta and was released on Feb. 1, 2024, which marks approximately one month since the CTA went into effect.

Key Points: 
  • ATLANTA, Feb. 28, 2024 /PRNewswire/ -- FinCEN REPORT, a beneficial ownership reporting service that helps U.S. companies comply with the new Corporate Transparency Act (CTA), received the honor of being named in the Atlanta Inno's 2024 Startups to Watch list by Atlanta Business Chronicle.
  • The award recognizes FinCEN REPORT's integral role in helping thousands of U.S. business owners and corporate compliance professionals navigate the CTA.
  • "We are honored to be one of the 25 companies named in the Atlanta Inno 2024 Startups to Watch list," said Jonathan B. Wilson, co-founder and CEO of FinCEN REPORT.
  • FinCEN REPORT will be recognized at the Inno Startups to Watch event in Atlanta on March 14, 2024.

After Revelations of Government Snooping into Banking Transactions, Old Glory Bank Publishes its Banking Bill of Rights

Retrieved on: 
Friday, February 16, 2024

Today, Old Glory Bank published its Banking Bill of Rights– a set of five fundamental banking principles on which every American can rely.

Key Points: 
  • Today, Old Glory Bank published its Banking Bill of Rights– a set of five fundamental banking principles on which every American can rely.
  • The Banking Bill of Rights is a direct response to revelations by the Congressional Committee on government overreach that the Department of Treasury was urging banks to flag transactions such as Bible purchases as potential “extremist” indicators.
  • “Our Banking Bill of Rights represents five principles to protect Americans who bank with Old Glory Bank.
  • We’ve always had these five principles at Old Glory Bank and now they are clearly stated in our Banking Bill of Rights.”
    “If your bank doesn’t affirm these same five principles, then it’s time to come to Old Glory Bank,” Elder adds.

Mitek Supercharges Financial Institutions’ Ability to Detect Check Fraud With MiControl

Retrieved on: 
Thursday, February 15, 2024

Mitek Systems , Inc. (NASDAQ: MITK) today introduced MiControl, a comprehensive fraud management console that works with Mitek’s Check Fraud Defender.

Key Points: 
  • Mitek Systems , Inc. (NASDAQ: MITK) today introduced MiControl, a comprehensive fraud management console that works with Mitek’s Check Fraud Defender.
  • MiControl quickly detects check fraud, reduces losses and further increases consumers’ online security.
  • Between January and October of 2023, 447,525 suspicious activity reports (SAR) indicated another record setting year for check fraud.
  • “MiControl combines check and fraud data intelligence to achieve operational efficiency,” said Kerry Cantley, Mitek VP of Digital Banking Strategy.

Kroll Appoints Tom Bock to Lead the U.S. Financial Crime Advisory Practice

Retrieved on: 
Wednesday, February 7, 2024

Kroll , the leading independent provider of global risk and financial advisory solutions, announced today the appointment of renowned industry expert Tom Bock as Managing Director and Head of its new U.S. Financial Crime Advisory (FCA) practice.

Key Points: 
  • Kroll , the leading independent provider of global risk and financial advisory solutions, announced today the appointment of renowned industry expert Tom Bock as Managing Director and Head of its new U.S. Financial Crime Advisory (FCA) practice.
  • Under Bock’s leadership, the FCA practice will bring customized, cutting-edge solutions to help financial institutions, fintech companies and corporations meet their most critical financial crime compliance challenges.
  • A major focus of the new practice will be to assist financial institutions in gaining operational efficiencies through the strategic use of technology.
  • Under Bock’s leadership, the Kroll FCA team will focus on providing customizable and sustainable solutions to help clients navigate an increasingly complex financial crime environment with maximum agility and efficiency.

Wolters Kluwer's Legisway enhanced to support Beneficial Ownership Information

Retrieved on: 
Monday, February 5, 2024

NEW YORK, Feb. 5, 2024 /PRNewswire/ -- Wolters Kluwer's Legal & Regulatory division is introducing beneficial ownership information (BOI) functionality to Legisway, the company's award-winning and all-in-one SaaS legal information and contract management solution for corporate legal departments. The new feature enables U.S. Legisway customers that are impacted by the beneficial ownership reporting rule under the Corporate Transparency Act (CTA) to identify and curate their BOI through a familiar interface.

Key Points: 
  • NEW YORK, Feb. 5, 2024 /PRNewswire/ -- Wolters Kluwer 's Legal & Regulatory division is introducing beneficial ownership information (BOI) functionality to Legisway , the company's award-winning and all-in-one SaaS legal information and contract management solution for corporate legal departments.
  • The new feature enables U.S. Legisway customers that are impacted by the beneficial ownership reporting rule under the Corporate Transparency Act (CTA) to identify and curate their BOI through a familiar interface.
  • "Many corporate legal departments already use Legisway to manage legal data all in one place including contracts, matters and entity information," said Ken Crutchfield, Vice President & General Manager of Legal Markets at Wolters Kluwer Legal & Regulatory U.S. "It is natural to add functionality for storing Beneficial Ownership Information in Legisway to support the need to track reporting entities, beneficial owners and even applicants in the same application used for other legal data."
  • For accounting firms and their clients, TAA has launched the CCH Axcess™ Beneficial Ownership solution, which automates the beneficial ownership information filing process for accounting firms that need to file large volumes of reports.

New Abrigo Fraud Detection Platform Helps Financial Institutions Fight Fraud Faster and Smarter With AI, Reduce Mounting Losses

Retrieved on: 
Thursday, February 1, 2024

Abrigo, a leading provider of financial crime prevention and risk management solutions for U.S. financial institutions, today announced the launch of Abrigo Fraud Detection, a new platform that combines AI-powered inspection and check image analysis with a smart, configurable fraud decision engine.

Key Points: 
  • Abrigo, a leading provider of financial crime prevention and risk management solutions for U.S. financial institutions, today announced the launch of Abrigo Fraud Detection, a new platform that combines AI-powered inspection and check image analysis with a smart, configurable fraud decision engine.
  • “Abrigo Fraud Detection offers our 2,400 existing customers, and new customers, enhanced fraud detection accuracy and efficiency.
  • “Abrigo Fraud Detection stands out by offering a highly configurable yet user-friendly interface, allowing financial institutions to tailor fraud detection to their specific needs.”
    Abrigo Fraud Detection has launched today with check fraud detection, and capabilities will expand to detect fraud across additional transaction types, including wire and FedNow , throughout 2024.
  • For more information and to try out Abrigo Fraud Detection, visit our website .

Wolters Kluwer Survey Shows Preparedness Trending Upward for U.S. Corporate Transparency Act Compliance

Retrieved on: 
Wednesday, January 31, 2024

The results reflect responses from more than 5,100 attendees and those surveyed during Wolters Kluwer’s January 23, 2024 beneficial ownership webinar.

Key Points: 
  • The results reflect responses from more than 5,100 attendees and those surveyed during Wolters Kluwer’s January 23, 2024 beneficial ownership webinar.
  • When asked about their level of preparedness for meeting the new reporting rule, which took effect January 1 as part of the Corporate Transparency Act (CTA), respondents are trending toward greater compliance, improving eight points compared to the company’s November 15, 2023 webinar poll.
  • The same question, posed during a Wolters Kluwer beneficial ownership webinar on November 15, 2023, indicated a level of just 18% readiness among 4,200 attendees.
  • Wolters Kluwer recently launched a Beneficial Ownership Platform solution to simplify filing and ongoing compliance for both single-entity as well as multiple-entity filers.

CEO Advisor, Inc. Provides BOI Report Compliance Service Required by U.S. Treasury

Retrieved on: 
Tuesday, January 30, 2024

NEWPORT BEACH, Calif., Jan. 30, 2024 /PRNewswire-PRWeb/ -- CEO Advisor®, Inc. (www.CEOAdvisor.com), a growth and strategy, growth capital and mergers and acquisitions advisory firm serving CEOs, Presidents and business owners of small and mid-size companies since 2004, is assisting small businesses ($5 Million or less in Revenue and 20 employees or less) in complying with the mandatory Beneficial Owner Information (BOI) Report filing with the U.S. Treasury's Financial Crimes Enforcement Network (FinCen) Department.

Key Points: 
  • "As trusted advisors to CEOs and business owners to small and mid-size businesses, CEO Advisor, Inc. is committed to helping with a timely BOI Report filing in an easy and affordable manner, thus avoiding costly penalties."
  • Companies, business owners and their controlling executives who don't comply with a Beneficial Ownership Information (BOI) Report filing are subject to fines of $500 per day (up to $500,000) and a maximum of 2 years in prison.
  • Mark Hartsell, President of CEO Advisor, Inc., states, "As trusted advisors to CEOs, Presidents and business owners to small and mid-size businesses, CEO Advisor, Inc. is committed to helping with a timely BOI Report filing in an easy and affordable manner, thus avoiding extremely costly penalties.
  • It is simply not time or cost-effective for CEOs and small business owners to review the lengthy regulations and instructions, and we are providing this BOI compliance service very affordably."

In Case You Missed it: Country Superstar John Rich Delivers Strong Critique of Government’s Intrusion into Americans’ Personal Banking

Retrieved on: 
Friday, January 26, 2024

Old Glory Bank’s co-founder John Rich had this to say about the federal government’s intrusion into Americans’ personal banking transactions, as uncovered by the Congressional Select Committee on the Weaponization of the Federal Government.

Key Points: 
  • Old Glory Bank’s co-founder John Rich had this to say about the federal government’s intrusion into Americans’ personal banking transactions, as uncovered by the Congressional Select Committee on the Weaponization of the Federal Government.
  • A lot of patriots built Old Glory Bank to be an option from the woke federally controlled banking system we have in this country right now.
  • “The whole theme behind Old Glory Bank is that you will not be penalized for exercising your Constitutional rights.
  • Old Glory Bank is committed to serving those who feel marginalized for believing in the greatness of America.

Balance Relocates to Alberta

Retrieved on: 
Thursday, January 25, 2024

Balance, Canada’s oldest and largest digital asset custodian, is pleased to announce that it has moved its corporate headquarters and relocated its core business from Toronto, Ontario to Calgary, Alberta.

Key Points: 
  • Balance, Canada’s oldest and largest digital asset custodian, is pleased to announce that it has moved its corporate headquarters and relocated its core business from Toronto, Ontario to Calgary, Alberta.
  • Registered in Alberta since 2021, Balance initially established an office in Edmonton, then subsequently moved it to Calgary, as its base of operations in the province.
  • We're grateful for our beginnings in Ontario and enthusiastic about the opportunities in Alberta.”, said Balance’s CEO, George Bordianu .
  • “We extend a warm welcome to Balance as the company relocates its office and team to Calgary, Alberta.”, said Rick Christiaanse , the CEO of Invest Alberta.