SolomonEdwards

Get the latest jobs and industry news

AI can be a double-edged sword for community banks. Without the right data and governance foundations, the same capabilities that might enhance financial crime prevention can also worsen existing operational gaps. In this blog, SolomonEdwards’ financial crimes experts give practical use cases that help community banks build their AI workflows with strong controls rather than chasing the latest platform. Read the blog to learn more -> https://lnkd.in/eedbrAyM

While today’s vote delays progress toward a federal market structure for digital assets, it does not delay the associated financial-crime risks. Crypto-enabled scams, illicit wallets, sanctions evasion and money laundering will stay prevalent despite a delayed legislative timeline. Banks already handling digital-asset activity, or supporting it through customers and third parties, remain responsible for meeting existing BSA/AML, sanctions and fraud requirements. Now the risk is interpreting regulatory uncertainty as a reason to wait. Banks can still identify how digital assets connect to their businesses and test whether existing controls offer enough visibility into that activity. This becomes especially important for transactions across multiple parties. A bank may understand the fiat movement while an exchange, custodian or other provider has the better view of what is happening on-chain. Banks need to know what information is being shared, what controls they are responsible for and what could be missed between parties. At SolomonEdwards we're helping banks with their digital asset compliance programs. Even with uncertainty around policy, now is the time to test whether controls work in practice. To learn more, see our work here: https://lnkd.in/gj6UBc7f

Digital asset opportunities are growing, but so are the risks. Without strong governance, compliance, and controls, institutions may face increased regulatory scrutiny, financial crime exposure, and operational risk. Assess your readiness today.

As digital asset opportunities expand, institutions with strong governance, compliance, and risk frameworks can move faster and support new offerings with confidence. Take the free online assessment for personalized next steps to strengthen your strategy.

It’s been one year since the passage of the GENIUS Act, yet many financial institutions are still uncertain about what it takes to safely support digital asset activities. Take our free online assessment to evaluate your institution’s readiness across governance, compliance, and risk management.