Important Announcement from the Financial Action Task Force (FATF)! Dear FIBA members, During the era of derisking, FIBA launched an initiative led by Wayne Shah, with the support of Wells Fargo, to assist Caribbean banks and others, that were suffering the...
FIBA Members Advocate for the Financial Industry in Washington, DC Dear FIBA members, Hope that everyone fared well during Hurricane Milton! I wanted to let you know that FIBA members Daniel Gutierrez, Harry Cupp, Chris Phillips, and I took advantage of our time in...
Submission of comment letter on FinCEN’s Notice of Proposed Rulemaking (“NPRM”) to strengthen and modernize financial institutions’ anti-money laundering and countering the financing of terrorism (“AML/CFT”) programs pursuant to the Anti-Money Laundering Act of 2020...
FIBA stands out at the Cambridge International Symposium on Economic Crime Dear FIBA members, It was an honor to be invited, along with the following members, to the Cambridge International Symposium on Economic...
Several FIBA members were amongst the stellar lineup of speakers at last week’s 28th Annual Congreso Hemisférico Para La Prevención Del Blanqueo De Capitales in Panama. The event was organized by the Asociación Bancaria de...
FCI and FIBA Sign MOU to Advance Accounts Receivable Financing in the Americas Dear friends and FIBA members,I am pleased to announce that FIBA has signed a Memorandum of Understanding (MOU) with FCI the Global Representative Body for Factoring and Financing of Open...
I hope that you had an enjoyable 4th of July holiday! We are now entering the “dog days of summer” when families head out on vacation and activity slows down at many companies, but not at FIBA! Here is an update on just...
Calling all compliance officers - FIBA needs you! 2024 has been a very busy year for FinCEN. They have issued Notices of Proposed Rulemaking (NPRM) on everything from adding investment advisers to the list of businesses classified as “financial institutions”...
Dear FIBA Members, We write to provide you with an update on Florida HB 585, which as you recall, provided that a customer who reasonably believed that a financial institution terminated or restricted access to the customer’s account in “bad faith” could file a...
Dear FIBA Members, It has been a good start to the New Year! We celebrated the installation of our new Officers and Board of Directors at a wonderful social event at the Coral Gables Country Club, held an engaging Strategic Planning Session with our committee chairs...
Greetings! Last week, FIBA AML Compliance Committee Chair Guillermo Horta, Director Wayne Shah, Legal & Regulatory Affairs co-Chair Daniel Gutierrez and I traveled to Washington DC to meet with regulators and members of Congress. As you can see from the picture,...
Greetings! On April 10, 2023, the U.S. Department of the Treasury published the 2023 De-Risking Strategy pursuant to Section 6215 of the Anti-Money Laundering Act of 2020 (AMLA). Treasury conducted consultations, primarily consisting of interviews, with more than...
Greetings! I am pleased to announce that last Friday, FIBA and the Small Business Administration (SBA) signed an agreement to “…jointly host a series of in-person seminars to educate on such topics as credit, trade compliance, correspondent banking on trade finance...
Greetings! Last Wednesday, Jeremy Smith, Director, Division of Financial Institutions at the Florida Office of Financial Regulation (OFR), was the keynote speaker at our quarterly in-person Board meeting. He discussed the current state of the industry in light of the...
Greetings! Yesterday we had the first in a series of quarterly events that will be sponsored by members of the Legal & Regulatory Affairs (LARA) committee throughout the year: a highly informative presentation by IRS-Criminal Investigation (IRS-CI) on the...
Greetings! Day 2 of the 23rd Annual FIBA AML Conference kicked off with a discussion of ESG (Environmental, Social, and Corporate Governance) initiatives of financial institutions, led by FIBA Board member Wayne Shah. Questions raised included: Daniela Fonseca...
Greetings! The Anti-Money Laundering Act of 2020 (AMLA) contained a provision that requires more transparency in the formation of corporations in the U.S., specifically the collection of data on beneficial owners. The Corporate Transparency Act (CTA), requires...
Greetings! BACK AFTER COVID!! You may remember that beginning in 2013, I would periodically publish the “From the Desk of the CEO…”, to inform the membership of some of the key happenings around FIBA including advocacy efforts, conferences and events, and FIBA In The...