FINANCIAL SERVICES FIRMS AND BANKS FACE CHALLENGES AGAINST CRYPTO MONEY LAUNDERERS

Virtual currencies such as Bitcoin are becoming mainstream and many traditional banking customers are regularly transacting with cryptocurrency exchanges.  The senior compliance management teams at the institutions must implement robust anti-money laundering (AML) and other customer and vendor risk management solutions in this area to avoid severe fines and potential jail time for executives. Banking … Read more

FINCEN LAUNCHES REGULATORY PROCESS FOR NEW BENEFICIAL OWNERSHIP REPORTING REQUIREMENT

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions related to the implementation of the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA). This ANPRM is the first in a series of regulatory actions that FinCEN will undertake … Read more

MODEVITY INVESTIGATIVE DUE DILIGENCE SERVICES SUPPORTS STANFORD UNIVERSITY IN THEIR KNOW YOUR DONOR PROGRAM

Modevity, LLC, a leading Commercial Intelligence company established in 2004 specializing in Investigative Due Diligence Research Services, announced that the company supports Stanford University for their ‘Know Your Donor’ international due diligence. Modevity continues to expand our Investigative Due Diligence Research Reporting support to Universities in their ‘Know Your Donor’ program initiatives. “University Compliance and Legal professionals recognize … Read more

MODEVITY SIGNS ON WITH THOMSON-REUTERS TO BROADEN VENDOR RISK MANAGEMENT SERVICES

With CLEAR’s third-party risk management software, the Modevity team can help our clients mitigate their corporate and reputational risk through billions of data points and a scalable consistent process and powerful reports. West Chester, PA USA – Tuesday, January 5, 2021 Modevity, LLC, a leading Commercial Intelligence company established in 2004 specializing in Investigative Due Diligence Research Services, announced … Read more

MODEVITY ANNOUNCES OUR GENERAL SERVICES ADMINISTRATION – GSA MULTIPLE AWARD SCHEDULE (MAS) CONTRACT

Modevity, LLC, a leading Commercial Intelligence company established in 2004 specializing in Investigative Due Diligence Research Services, announced today that the company received approval by General Services Administration for GSA Multiple Award Schedule (MAS) MAS Contract. Modevity professional Investigative Due Diligence services under the GSA Multiple Award Schedule (MAS) MAS Contract is for NAICS Code 561611 … Read more

HOW WELL DO YOU KNOW YOUR SUPPLIERS AND CHANNEL PARTNERS?

By: Tom J. Canova, Co-Founder, CMO, Modevity  In Today’s complex business ecosystem, companies rely more and more on third-party supplier relationships and a growing supply chain to meet organizational objectives. It is vital for any company to manage these relationships and apply due diligence to onboard new vendors and apply third-party risk analysis and continuous … Read more

U.S. BANKS TRAVERSE UNEVEN REGULATIONS TO SERVE CANNABIS BUSINESSES

It is interesting to now see that many financial institutions are looking to offer banking services to the expanding number of legal cannabis growers and distributors in the U.S. even though the young industry continues to be limited by inconsistent regulations and expensive compliance requirements. The inconsistencies between federal and state laws governing the use … Read more

GLOBAL BANKS DEFY U.S. CRACKDOWNS ON AML INITIATIVES

The FinCEN Files show trillions in tainted dollars flow freely through major banks, swamping a broken enforcement system. ICIJ International Consortium of Investigative Journalists has published an insightful article on the continued concerns about Global Banks to have defied money laundering crackdowns by moving excessive amounts of illicit cash for questionable characters and criminal networks that … Read more

MODEVITY INVESTIGATIVE DUE DILIGENCE – ‘KNOW YOUR DONOR’ MAJOR DONORS

by Tom J. Canova, Co-Founder, CMO Modevity University development fundraising programs are in facing a public relations crisis.  Over the last couple of years there have been major examples of PR disruptions that are far reaching – from Sackler family, Epstein, and highly questionable money from Saudi Arabia and China entities. While contributions from these … Read more

FINCEN SEEKS COMMENTS ON ENHANCING THE EFFECTIVENESS OF ANTI-MONEY LAUNDERING PROGRAMS

Immediate Release September 16, 2020 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions pertaining to potential regulatory amendments under the Bank Secrecy Act (BSA).  The proposals under consideration are intended to provide financial institutions greater flexibility in the allocation of … Read more

MODEVITY IMPLEMENTS NEW AI DATABASE TECHNOLOGY SOLUTIONS TO SUPPORT INVESTIGATIVE DUE DILIGENCE RESEARCH SERVICES

MALVERN, Pa., August 4, 2020 — Modevity, LLC, is a leading Commercial Intelligence company established in 2004 that provides Investigative Due Diligence research reporting services.  Modevity provides these services to support several market segments and organizational use cases including, Legal, M&A Portfolio Management, Law Enforcement, Supply Chain, Executive Due Diligence and KYC. At Modevity, we recognize … Read more