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OCC defines HIFCA/HIDTA

OCC defines HIFCA/HIDTA Published on June 12, 2015     The OCC has provided the attached link for definition of High Intensity Financial Crimes Areas (HIFCA) and High Intensity Drug Traffic Areas (HIDTA). http://www.occ.gov/topics/compliance-bsa/bsa/law-enforcement-resources/index-law-enforcement-resources.html. To help financial institutions comply with regulations pertaining to HIFCA and HIDTA. NominoData has just released a data list that identifies…

Robert Goldfinger to present at Wolters Kluwer ELM 15 industry conference

Robert Goldfinger to present at Wolters Kluwer ELM 15 industry conference   Published on August 5, 2015     NominoData LLC Incline Village NV 8/5/15- Nominodata LLC announced today that Robert A.Goldfinger, President of Nominodata will join an outstanding faculty of subject matters presenters at the Wolters Kluwer ELM 15 Conference. The conference will be…

FinCen withdrawals under Section 311. EDD remains for the individuals and entities involved

FinCen withdrawals under Section 311. EDD remains for the individuals and entities involved Published on February 19, 2016     FinCen announced on 2/19/16 the withdrawal of action under section 311 pertaining to Liberty Reserve (Costa Rica), JSC Credex Bank (Belarus) and Banca Privada (d’Andora) https://www.fincen.gov/whatsnew/html/20160219.html. This announcement and similar announcement updates important information about…

Former AG Eric Holder on decriminalizing Marijuana. NominoData LLC offers Legitimate Marijuana Data list for Financial Institution Compliance

Former AG Eric Holder on decriminalizing Marijuana. NominoData LLC offers Legitimate Marijuana Data list for Financial Institution Compliance Published on March 2, 2016     Former Attorney General, Eric Holder, says that it is time to consider decriminalizing and rescheduling marijuana in the U.S. Holder suggests moving marijuana to a lower scheduling. He stated: “I…

FinCEN and the Republic of Argentina agree to MOU

FinCEN and the Republic of Argentina agree to MOU Published on March 21, 2016     Jennifer Shaskey and the Republic of Argentina agreed to an MOU to once again begin the exchange of information via FIUs. The exchange of information had been suspended as a result of prior improper disclosure of information. Information about…

Reputation Management Tactics- Results in the suppression of Negative News inhibiting quality due diligence investigations

Reputation Management Tactics- Results in the suppression of Negative News inhibiting quality due diligence investigations Published on March 22, 2016     If your financial institution is using a federated search tool like Google your efforts may be thwarted by reputation management services that are suppressing negative news/ adverse media searches. Recently  a reputation management…

Cuba Sanctions lifted- Here come the regulators

Cuba- Here come the regulators!!! With the historic visit of POTUS to Cuba it is anticipated that there will be a tidal wave of new business. Business can only be conducted when there is an established pathway for the exchange of capital. The recent lifting of sanctions was the just the beginning of the waves…

BSA Expectations Regarding Marijuana Related Businesses- GET THE DATA for Compliance

BSA Expectations Regarding Marijuana Related Businesses- GET THE DATA for Compliance Published on March 31, 2016     FinCEN has outlined 7 due diligence expectations for banks that have contact with Marijuana related businesses (MRBs). These expectations can be reviewed at https://www.fincen.gov/statutes_regs/guidance/pdf/FIN-2014-G001.pdf. Central to the due diligence expectations is obtaining and reviewing the data pertaining…

ACAMS Conference Marijuana Compliance Session a great success- important feedback from those attending

ACAMS Conference Marijuana Compliance Session a great success- important feedback from those attending Published on April 14, 2016     I had the honor this week of presenting at the 21st AML and Financial Crimes ACAMS conference. One of my sessions pertained to the emerging compliance area of banking legitimate marijuana/cannabis businesses. The session content…

FINRA to focus on audit trail issues in 2016

FINRA to focus on audit trail issues in 2016 Published on April 25, 2016     I wanted to update all my contacts that may be under the span of review of FINRA . In  2016  FINRA will be paying close attention to audit trail issues.Below is an extract from the 1/15/16 Regulatory and Exam…