Lyons Blog

  1. Know Your Customer & Industry Report BenefitsKnow Your Customer (KYC) compliance management has taken on increased importance for financial businesses in recent years, as regulations have become longer and more complex. (more…)

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  2. man standing in front of large laptop experiencing online fraud scamA recent fraud alert has shed light on a trending identity theft scam that has caused countless U.S. citizens to lose money and incur late fees – among other issues. The lessons learned by victims of the scam offer insight to avoid being the next casualty of the fraud. (more…)

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  3. High-Revenues-Dont-Justify-Violating-US-Sanctions-Laws-ImageIn 2009, the total global revenues from international criminal activities were estimated at U.S. $870 billion per year. Since then, the rise of cybercrime and use of digital technology to circumvent existing laws and eliminate protective barriers has almost certainly caused that number to rise. In short, criminal business is often a very lucrative business.

    The cost to society of all this crime is equally high. Each year, countless lives are lost to human traffickers, drug dealers, smugglers, money launderers and other miscreants. In less secure areas, international criminal activities can destabilize emerging economies, up-end struggling political systems and threaten the peace of entire regions.

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  4. Fed-Warns-Casinos-on-Risk-of-Noncompliance-with-AML-ImageThe United States Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) promulgates and enforces rules designed to prevent and detect money-laundering activities.

    When thinking of anti-money laundering (AML) requirements, most people automatically think of banks, credit unions, investment firms and other financial institutions whose primary “product” is money. However, AML requirements are not limited to these types of institutions.

    Although some would argue that casinos are primarily in the business of providing entertainment, casinos actually pose a serious risk for money-laundering activities. As such, they are subject to a dizzying array of AML regulations, including the Bank Secrecy Act (BSA) rules.

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