AML Conversations

This week, John and Elliot discuss several federal indictments relating to terrorism announced by the DOJ, a Financial Trend Analysis on mail theft check fraud from FinCEN, a Cryptocurrency Fraud Report from the FBI, a Data Spotlight about Bitcoin ATMs from the FTC, and several other items impacting the financial crime prevention community. They also commemorate the 23rd anniversary of 9/11.

Vesna McCreery sits with AML experts David Harley and Adrian Quigley to discuss AML compliance in the UK and the EU. They also look at how these regimes differ from the requirements in the US and Australia.

This week, John and Elliot discuss the arrest of a senior aide to several NY governors for violations of the Foreign Agents Registrations Act and money laundering, COVID fraud charges in NJ, the seizure of an airplane owned by Venezuelan president Maduro, the uncovering of corruption in Malta by a US healthcare company, and several other items impacting the financial crime prevention community.

This week, John and Elliot discuss FinCEN’s new final rules for reporting on residential real estate transactions and the program requirement for investment advisors. They also look at HSI’s Project Red Hook, its efforts to stem gift card fraud schemes, and a report from the University of Sussex, which rates the US as the preferred hub for corrupt financial transactions.

Industry experts Christopher Sindik, Director of Third-Party Risk and Due Diligence at Blue Umbrella, and Patrick Bowe, Senior Director of Product Solutions at AML RightSource join our host, Rachel Dettmer, to discuss the importance of adverse media in financial crime compliance. Previously considered a 'nice-to-have' in the compliance toolkit, they explore why adverse media has increasingly becom...

This week, John and Elliot discuss the National Strategic Assessment for 2024 for the UK, George Santos's plea, the latest edition of the Cornerstone from Homeland Security, the policy brief on environmental crime from the FACT Coalition, and several other items. They explore their impact on the financial crime prevention community.

In this week's episode, the discussion centers on cybersecurity risks linked to foreign interference in U.S. elections, the impact of Russian money transfers to the UK, and the latest SEC actions against financial institutions. John and Joe also cover the Federal Reserve's stance on decentralized systems, and important regulatory updates for the AML community.

This week, the US State Department issued a report on wildlife trafficking, The European Central Bank published a report on payment fraud, and Health Canada discussed the dangers of the increase in domestic fentanyl production. John and Elliot discuss these items and others, including a fraud warning from the FBI, the AML law passed in Singapore, and more.

This week, the GAO issued a report on payment scams, the OCC responded to a letter from members of Congress about the actions of some state legislatures to limit the authority of national banks, FinCEN issued clarification about the data being captured in the beneficial ownership information registry and more. John and Elliot discuss these items and their meaning for the financial crime compliance...

John and Elliot discuss several developments impacting the financial crime community this week. These include a report on foreign investment in the US, the interagency statement on the AML/CFT program proposal, and the regulatory agenda for the Treasury Department. They also talk about the report from the House Financial Services Committee working group on AI, new sanctions on fentanyl producers,...

We spoke to Les Joseph, the recently retired head of the Global Financial Crime Intelligence Group at Wells Fargo, about his storied career in the private and public sector, during which he tackled corruption, money laundering, and many aspects of financial crime.

John and Elliot discuss several developments impacting the financial crime community this week. These include an OCCRP article on crypto ATMs, FinCEN’s Alert on red flags related to the financing of Israeli extremist settler violence against Palestinians in the West Bank and a joint notice on timeshare fraud, Senator Robert Menendez's corruption conviction, an AUSTRAC report on the current state o...

John and Elliot discuss several developments impacting the financial crime community this week. These include FATF’s Horizontal Review of Gatekeepers’ Technical Compliance Related to Corruption, remarks by US Treasury Under Secretary Nelson at the Pacific Banking Forum, a new IRS warning on identity theft, and other items.

This week, John and Elliot discuss several developments impacting the financial crime community. These include the results of the recent FATF Plenary, a new statement from the Wolfsberg Group on effective monitoring for suspicious activity, the proposed rule from FinCEN to strengthen and modernize AML/CFT programs, and other items.

This week, the US State Department issued its 2024 Trafficking Persons Report, the EU imposed additional sanctions against Russia, the OCCRP shared the content of an interview with the outgoing FATF president about the impact of Dubai Unlocked on the FATF’s assessment of Dubai, and OFAC announced sanctions on the elements of an Iranian shadow banking system. John and Elliot discuss these reports a...

AMLRS Advisory Board member and former OSFI official shares his expert views on changes and challenges for AML in 2024.

This week, the US Department of Justice made two announcements about repatriating funds seized from criminal actors. The Federal Reserve issued a cease and desist order regarding banking as a service. FinCEN issued a reminder about the importance of detecting elder financial abuse. John and Elliot discuss how these items impact the financial crime prevention community.

Kim Grauer, Director of Research for Chainalysis, discusses the key themes in their 2024 report. Among the many topics and metrics, they cover: • Money Laundering • Ransomware • Scams • Sanctions

This week, the US Department of Justice issued a fact sheet on its Initiative to Combat Transnational Human Smuggling and Trafficking Networks. The Egmont Group published the outcomes from its recent plenary. The FinCEN held an outreach session on implementing the beneficial ownership information reporting requirements in Phoenix. The US Treasury published a request for information on the Uses, Op...

Josh and Jon return for our third and final segment on tuning and optimization. They discuss tuning and optimizing for sanctions and customer risk rating models, how this process can differ from transaction monitoring, and conclude with some valuable departing knowledge on the series as a whole.

John Byrne talks with well-known Australian AML Expert Aub Chapman on the AG’s proposal, key themes, and his insight on the potential for real success upon completing the process.

This week, Europol announced a successful crackdown on money mule service providers. The BASEL Institute for Governance released a paper on informal networks and anti-corruption. The US Treasury issued an Illicit Finance Risk Assessment of Non-Fungible Tokens. The Council of the European Union approved its new AML/CFT regime. John and Elliot discuss these items and several others and their impact...

This is a broad-based investigation into how Dubai remains a destination for illicit funds moved by drug lords, corrupt public officials, and money launderers. We discuss the methods behind and the results of a recently announced investigation by 70 media outlets worldwide.

This week, the Basel Institute on Governance published its 2023 Annual Report, OFAC published regulatory changes about Cuba, and MONEYVAL’s issued an update to its mutual evaluation of the Holy See. John and Elliot discuss these items and their meaning for the financial crime compliance community.

John and Elliot discuss the 2024 National Illicit Finance Strategy, FinCEN’s new Exchange series to fight fentanyl trafficking, the second stage consultation on reforming Australia’s AML/CFT regime, and several other items. They share their insights on how these reports and actions impact the financial crime prevention community.