In this episode of The Crypto Exchange, Troutman Pepper attorney Carlin McCrory welcomes Disputes, Compliance and Investigations Managing Director Terri Sands from Stout to discuss the risks and regulatory scrutiny that financial institutions and fintechs face as to fraud and the Bank Secrecy Act (BSA). In her position, Terri serves as a leader in the payments, BSA/AML, and OFAC/Sanctions and fraud and risk management areas.
During the podcast, Carlin and Terri discuss a variety of topics on the BSA, including the biggest fraud risks that financial institutions face, as well as what financial institutions can do to prepare for security threats. With evolving risks, financial institutions and fintechs must ensure their staff is trained and that they have a true understanding of the fraud risks they face on a day-to-day basis. Additionally, Carlin and Terri examine reasons why financial institutions can find themselves under regulatory scrutiny and steps executive management teams can take to avoid these situations.
Transcript: Evaluating Fraud Under the Bank Secrecy Act (PDF)