For the next few days, we're going to highlight BSA professionals and their biggest BSA/AML wins as we countdown to National Financial Crime Fighter Day on October 26. Today, we have the honor of celebrating the great work Patty Fisher has done as a BSA Analyst II at Valley National Bank.
Years in industry: 6 years in BSA/AML
How did she get her start?: Patty joined the staff at Valley National Bank as a bookkeeper after spending 23 years in group healthcare. She started helping the BSA officer audit high-risk accounts and hasn’t stopped since.
What does she love about her job?: Patty loves the detailed work involved in the BSA/AML field. It involves digging into data and using curiosity to stop people from doing wrong or bad things. She works in a lower risk area so sometimes finding the suspicious activity is like finding a needle in a haystack, but it is always rewarding for her when she is able to detect and prevent it. She is also grateful for the continued support of the bank’s BSA officer and the culture of compliance they have created within the department.
What is her biggest BSA/AML win?: Patty discovered a potential money laundering scheme occurring in a small town by a small, local business. She lived nearby and had personally visited the business before. Doing simple math using the listed prices, she could easily estimate how much cash the business would normally be taking in. She realized the amount of cash being deposited by the business was a lot higher than that, raising a red flag for her. As soon as the bank inquired about the source of the cash, the business immediately stopped making cash deposits at the bank and Patty was able to escalate the case. She used basic Know Your Customer principals to further investigate her suspicions and stop potentially suspicious activity. That’s a BSA/AML win to us!
On behalf of Abrigo, thank you, Patty, for all that you do to protect the U.S. financial system! Now, let’s celebrate!
For more information on BSA/AML Day visit the website at BSAAMLDAY.com.
Learn more about our BSA/AML and fraud prevention software, BAM+, and how it can help you in your continued fight against financial crime.