What to Expect from AML and OFAC Enforcement in 2010
In the field of Anti-Money Laundering enforcement, 2010 will see new proposed Bank Secrecy Act (BSA) regulations requiring non-bank residential mortgage lenders and originators to have anti-money laundering programs and to report suspicious activity. These businesses need to be ready to implement these programs, because mortgage fraud, and scams involving home loan modification and foreclosure rescue businesses, are already key targets of criminal law enforcement.
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