White Papers

Accume Partners is dedicated to staying on top of the legislative, regulatory and business issues facing our clients. Our resources are designed to help answer questions, clarify issues and serve as tools to help our clients stay informed and ahead. of the trends and issues that are critical to their success.

Feb 18, 2021
Fair Lending

With a new administration come changes to the legal landscape that will impact the regulatory expectations on financial institutions. In addition to consumer protection, the Biden administration has stressed its focus on racial equality and social justice. We believe that this focus will have major impacts on financial institutions during the next four years and …

Read More
Dec 02, 2020
CPRA – Start the Countdown

Privacy legislation – at the Federal and State levels – continues to be considered and developed. The U.S. Senate Committee on Commerce, Science and Transportation held a hearing last December addressing what Congress should consider when shaping a federal privacy law. Read More!

Read More
Sep 01, 2020
Practical Tips for Operational Internal Audit During COVID-19 Recovery

The COVID-19 pandemic has impacted everyone in every aspect of their personal and professional lives. Current and emerging market conditions have presented many uncertainties for companies, auditors, and audit committees. The role of Internal Audit is to be an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations and …

Read More
Aug 19, 2020
The Current Challenges of AML Model Validations

In September 2015, ACAMS published a whitepaper titled “The Challenge of AML Model Validation,” to assist BSA/AML personnel with addressing the most common examination challenges regarding AML model validation. It’s now five years later, and many financial institutions continue to face significant challenges in ensuring their AML models meet the expectations of the regulators and …

Read More
Jun 10, 2020
The Incident Response Playbook: A Critical Business Tool for Uncertain Times

An Incident Response Playbook provides detailed procedures to respond to your most likely or reasonably foreseeable incident types. It is designed to rapidly put your incident management program into operation with clearly assigned roles, tasks, and processes to properly respond to an incident, perform an investigation, and return your organization back to a secure state. …

Read More
May 19, 2020
New FFIEC Statement on Cloud Computing: What Banks Need to Know and Do

On April 30, 2020, the Federal Financial Institutions Examination Council (FFIEC)  issued a new Joint Statement on the topic of “Security in a Cloud Computing Environment.” The Joint Statement reminds Financial Institutions that, in electing to use Cloud Services, they are not exempted from their responsibility to apply sound risk management practices in overseeing such relationships. This is …

Read More
Nov 27, 2018
Are you Compliant with the SWIFT CSP?

Are you compliant with the new regulations mandated by the SWIFT Customer Security Program (CSP)? Newly benchmarked standards on SWIFT have caused many financial institutions to enhance their wire funds transfer controls. Alan Cheung (Director), Risk & Regulatory Advisory Services for Accume Partners offer key highlights from the recent SWIFT CSP Program. Overview Many institutions …

Read More
Oct 30, 2018
Barbarians at the Gate – Current Threats and Attack Types

In the past 18 months, Accume Partners has responded to and investigated scores of security incidents involving a variety of attack techniques.  According to Symantec, last year malware variants were up 88%, representing almost 661 billion unique malware variations.  Based on numerical evidence alone, it’s clear that businesses are under significant attack on all fronts.  …

Read More
Oct 22, 2018
NYDFS Third-Party Service Provider Requirements: Are You Prepared for Compliance?

There are less than six months until the New York Department of Financial Services (NYDFS) Cybersecurity Vendor/Third Party Service Provider Requirements goes into Effect (March 1, 2019); Is your firm ready? Eighteen months ago the NYDFS 23 NYCRR 500 Cybersecurity Requirements for Financial Services Companies went into effect, (March 1, 2017). The NYDFS regulation, which …

Read More
Oct 09, 2018
Cybersecurity Year-End Checklist and 2019 Plan

Monday, October 1st marked the beginning of the 4th Quarter.  For many financial institutions, this means getting ready for activities such as preparing next year’s budget, completing the 3rd Quarter Call Report, dusting off the strategic plan, and preparing for upcoming Federal examinations and year-end audits. Monday, October 1st also marked the beginning of National …

Read More