From the Desk of David Schwartz

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

Sep 25, 2024 | From the Desk of David Schwartz

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

Sep 10, 2024 | From the Desk of David Schwartz

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...

FIBA Shines at the Congreso Hemisférico in Panama!

Aug 27, 2024 | From the Desk of David Schwartz

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

Aug 8, 2024 | From the Desk of David Schwartz

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...

From The Desk of David Schwartz – 4th July

Jul 12, 2024 | From the Desk of David Schwartz

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!

Apr 25, 2024 | From the Desk of David Schwartz

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”...

David Schwarts and Marina Olman Update on Florida HB 585

Mar 21, 2024 | From the Desk of David Schwartz

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...

David Schwarts and Marina Olman

Mar 4, 2024 | From the Desk of David Schwartz

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...

Meeting Regulators & Members of Congress

Jun 28, 2023 | From the Desk of David Schwartz

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,...

The 2023 De-Risking Strategy

Apr 28, 2023 | From the Desk of David Schwartz

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...

FIBA & SBA Announcement

Apr 24, 2023 | From the Desk of David Schwartz

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...

Quarterly In-person Board Meeting

Apr 5, 2023 | From the Desk of David Schwartz

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...

IRS-Criminal Investigation (IRS-CI) on the crucial role BSA Data plays in their financial investigations.

Apr 3, 2023 | From the Desk of David Schwartz

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...

FIBA AML Conference & ESG

Mar 3, 2023 | From the Desk of David Schwartz

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...

The Corporate Transparency Act (CTA)

Mar 1, 2023 | From the Desk of David Schwartz

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...

Back After COVID!

Feb 1, 2023 | From the Desk of David Schwartz

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...