Entries by IFI

Where Boards and Senior Management Fall Short on Compliance Oversight

From passive oversight and overreliance on compliance officers to blind spots in risk awareness and a check-the-box only training culture, senior management often stumbles in ways that invite regulatory scrutiny. This article explores the most common pitfalls and how leaders can avoid them to strengthen accountability at the top.

OFAC’s 50 Percent Rule

This article delves into OFAC’s 50 Percent Rule, common pitfalls, and best practices for avoiding costly mistakes.

Phantom Risks

As financial crime compliance teams rely increasingly on automation, unseen vulnerabilities often hide in plain sight. This article examines the “phantom risks” modern CCOs face—from AI-driven fraud to overlooked vendor gaps—and how to bring them into the light before they strike.

The Illusion of Preparedness

High training completion rates may look good on paper, but they don’t always mean teams are ready for real-world threats. Explore why even well-trained staff can miss critical red flags—and what leaders can do to turn perceived readiness into proven preparedness.

Operation Mouse

Synthetic identities are increasingly used to perpetrate fraud. Delve into real-life examples of synthetic identity fraud in Canada, along with the actions financial institutions can take in response, in this article.

The BIS 50% Rule

Under the new BIS Affiliates Rule, any entity at least 50% owned by a listed party is subject to the same export control restrictions as the parent. The objective of the rule is to close a loophole and more effectively counter diversion of sensitive and restricted items.