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Bank Related Changes from SAP S/4 HANA 2020 Onwards (With FIORI):

SAP Credit Management

In this article I am trying to demonstrate the bank related changes and the impact SAP S/4 HANA 2020. SAP S/4 HANA 2020: In SAP S/4 HANA 2020, there are 2 ways of creating the required sets of G/L Accounts. A new field was introduced from S/4 HANA 2020 in GL Master Data, the field name is GLCCOUNT_SUBTYPE (GL Account Sub Type).

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VIES (VAT validation via EU Commission Web Service) with SAP Master Data Governance: MDG-BP/Customer/Supplier

SAP Credit Management

Background: VIES is provided by the European Commission for validating VAT-identification numbers of economic operators registered in the European Union for cross-border transactions on goods or services. As of January 01, 2020, the validation of VAT registration numbers for EU business partners is mandatory.

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FinCEN Clarifies Requirements of Reporting Financial Transactions

Abrigo

In an effort to enhance regulatory efficiency and capture complete, accurate Currency Transaction Report (CTR) data to law enforcement, FinCEN has issued an administrative ruling regarding CTRs (FinCEN Form 112). When the entity home office address is the same as the transaction location, only a home office Part I section should be prepared.

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Celebrating BSA/AML Day 2020

Abrigo

To celebrate BSA/AML Day, we wanted to share the great work BSA/AML professionals are doing in their jobs to stop financial criminals: “Transactions were detected on an elderly individual’s account that was outside the normal activity for the customer. Celebrating BSA/AML Day 2020. BSA and AML Day National 2020 Celebration.

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FinCEN Issues Advisory on COVID-19 Related Medical Scams Transactional Red Flags for your Suspicious Activity Monitoring Program

Abrigo

FinCEN issued an advisory on May 18, 2020 to alert financial institutions to medical scams related to the COVID-19 pandemic as well as new SAR key terms for reporting these scams. Crisis Business Membership Strategy in 2020: Adapting Technology and Executing in the New Normal. Learn More. C&I Loans. Lending & Credit Risk.

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AML Act of 2020: Key Steps to Take Now for BSA Readiness

Abrigo

Anti-Money Laundering Act of 2020 BSA professionals should prepare for changes as new regulations and guidance from FinCEN unfold. Takeaway 1 The Anti-Money Laundering Act of 2020 (AMLA) is the first significant change to the Bank Secrecy Act in nearly 20 years. Anti-Money Laundering Act of 2020 (AMLA) amends the Bank Secrecy Act.

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The 23 Most Profitable Businesses in 2020

Fundera

We’ve compiled a list of the most profitable small businesses for 2020. With the right combination of hard work, determination, and resourcefulness, you can start one of these most profitable businesses in 2020. Most Profitable Small Businesses in 2020. Most Profitable Small Businesses in 2020.