TITLE

Automation is A Patriotic Act ForTransAtlantic

AUTHOR(S)
Kite, Shane
PUB. DATE
February 2005
SOURCE
Bank Technology News;Feb2005, Vol. 18 Issue 2, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports on the adoption of with FAST3124(a) technology by TransAtlantic Bank in auditing non-customer transactions in Miami, Florida. Use of the technology in automating the bank's systems to comply with anti-money laundering laws governing; Requirement of law for banks to search their accounts and submit information to FinCen, U.S. Treasury's information-sharing network; Aid of the system in cross-checking the names of the remitter and payee on monetary exchange against various terrorist blacklist.
ACCESSION #
16176603

 

Related Articles

  • Compliance: where are the current pitfalls? Rugh, Blair // ABA Banking Journal;Aug2000, Vol. 92 Issue 8, p53 

    Discusses the compliance issues and laws governing banks and bankers in the United States in their use of the platform automation system. Basic problems inherent to the banks' use of automated system or systems to prepare new deposit accounts and loan disclosures; Increase of the number of...

  • Electronic Sarbanes-Oxley (e-SOX) Compliance. Fitzpatrick, Margo L. // Bank Technology News;Apr2005, Vol. 18 Issue 4, p27 

    Explains the benefits of implementing a comprehensive technology-enabled Sarbanes-Oxley Act, a law governing transparency of corporate financial reporting systems in the U.S. Role in producing an informed understanding of the Act; Capability to integrate process management and strategy;...

  • 404 Means Huge Costs For Questionable Gains. Batts, Nathan // American Banker;4/29/2005, Vol. 170 Issue 82, p10 

    Questions the effectiveness of section 404 of the Sarbanes-Oxley Act of 2002. Details of the regulation; Importance of weighing the benefits of the regulation against the costs associated with compliance; How costs related to Sarbanes-Oxley compliance cut into bank profits; Analysis of the issue.

  • FDIC Investigation Method Questioned. Bergman, Hannah // American Banker;5/19/2005, Vol. 170 Issue 96, p3 

    Reports that the Federal Deposit Insurance Corp.'s (FDIC) Office of the Inspector General is criticizing the FDIC's enforcement of Bank Secrecy Act (BSA) rules at a single bank, but is unsure whether a wider problem exists. Comments by acting inspector general, Patricia Black, on the nature of...

  • EDITOR'S NOTE. Kline, Alan // American Banker;5/3/2005, Vol. 170 Issue 84, special section p1 

    Previews articles in a special section of "American Banker" dedicated to community banking. Consideration of the blurry line between rules and guidelines in the banking industry; Complications that arise when bank examiners enforce guidelines as rules; Articles on the issue of bank compliance.

  • Calif.'s First Regional Reports BSA Issues.  // American Banker;7/12/2005, Vol. 170 Issue 132, p18 

    Reports that First Regional Bancorp's bank unit is not in compliance with Bank Secrecy Act provisions. How First Regional Bank identified deficiencies in its anti-laundering program after examination by the Federal Deposit Insurance Corp.; Consideration of corrective action to be taken by First...

  • OCC Policy A Fast Track To Cease And Desist? Blackwell, Rob; Rehm, Barbara A. // American Banker;12/7/2004, Vol. 169 Issue 233, p1 

    Scrutinizes the guidelines issued by the Office of the Comptroller of the Currency regarding enforcement of anti-money laundering rules for banks. View of critics of the guidelines, who feel that according to the rules, examiners are being forced to issue stiff penalties for minor violations;...

  • Bankers Urge Regulators to Endorse More Relief. Bergman, Hannah // American Banker;6/21/2005, Vol. 170 Issue 118, p3 

    Reports that while bank and thrift regulators have recommended more than a dozen regulatory-relief items to Congress as of June 2005, none of them offer relief from the anti-money-laundering burdens faced by banks. Comments by Jim McLaughlin, the American Banker Association's director of...

  • Check 21 as Marketing Opportunity. Hegarty, Anthony // American Banker;8/20/2004, Vol. 169 Issue 161, p11 

    Looks at the effects of the Check 21 law on banks' customer relationships. Description of the law, which shifts payment processing from a paper to an electronic system; Reaction of customers; Costs to banks for providing substitute checks in the event of payment discrepancies; View that customer...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics