Financial Crime World

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Banks in United States Minor Outlying Islands Must Comply with Evolving Financial Crime Regulations

In today’s complex financial landscape, banks operating in the United States Minor Outlying Islands must navigate a web of regulations to prevent financial crime and ensure compliance. The financial sector faces increasing scrutiny from regulatory bodies, making it essential for institutions to have robust risk management strategies in place.

LexisNexis Risk Solutions: A Comprehensive Solution

LexisNexis Risk Solutions provides comprehensive solutions to help banks in the United States Minor Outlying Islands stay ahead of evolving financial crime regulations. Our integrated financial crime and anti-money laundering (AML) compliance solutions deliver a complete view of consumer and business risk, enabling banks to quickly focus resources on relevant financial crime risk.

Advanced Analytics and Innovative Technologies

Our solution combines advanced analytics and unmatched global identity intelligence with innovative financial crime technologies like machine learning, artificial intelligence (AI), and technology automation. With our configurable tools, banks can gain dynamic insights that provide actionable risk intelligence at any point in the customer lifecycle, allowing for accelerated decision-making and effective combat against financial crime risk.

Regulations to Adhere To

To achieve compliance, banks must adhere to various regulations, including:

  • Bank Secrecy Act (BSA)
  • Anti-Money Laundering (AML)
  • Anti-Bribery and Corruption (ABC)
  • Customer Due Diligence (CDD)
  • Economic Sanctions
  • USA PATRIOT Act
  • Financial Crimes Enforcement Network (FinCEN) Customer Due Diligence Guidance
  • Office of Foreign Assets Control (OFAC) Regulations
  • Fifth European Union Anti-Money Laundering (EU AML) Directive
  • Financial Actions Task Force (FATF)
  • Wolfsberg Group Guidance
  • Monetary Authority of Singapore (MAS)
  • Accounting and Corporate Regulatory Authority (ACRA) Act

One-Source Model for Compliance

LexisNexis Risk Solutions offers a one-source model that encompasses all screening, investigation, and ongoing monitoring needs to support a unified, more cohesive workflow. With over 20 years of experience in fighting financial crimes, including money laundering, bribery, and corruption, and terrorist financing, we are proud to be the provider of choice for leading global financial institutions and corporations.

Benefits of LexisNexis Risk Solutions

Our financial crime compliance (FCC) solutions connect banks with robust technology, data, and analytics that can transform their FCC workflows and help achieve greater costs and operations efficiencies across the customer lifecycle. With our integrated and flexible tools, banks can support:

  • Streamlined FCC
  • Economic sanctions compliance
  • BSA and AML compliance
  • ABC compliance across the customer lifecycle

Discover How LexisNexis Risk Solutions Can Help Your Bank

Discover how LexisNexis Risk Solutions can help your bank efficiently understand customer and third-party risk and increase the effectiveness and efficiency of critical financial crime and compliance management workflows.