Designated with Yaya Jata Fanusie The Financial Crime Playbook: with Sarah Beth Felix | Designated
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Apr 15, 2025 
In this conversation with Sarah Beth Felix, an anti-money laundering expert and consultant, listeners dive into the intricate world of financial crime prevention. Sarah reveals how compliance staff are the unsung heroes on the front lines. They discuss the unique mindset needed for effective AML professionals, the pitfalls of traditional hiring practices, and the importance of clear communication in suspicious activity reports. Additionally, Sarah shares insights on leveraging technology to innovate AML practices, highlighting her mission to build a bank that sets high standards in compliance.
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Threat-Focused Risk Assessments Needed
- Lack of threat-focused risk assessments is a root cause of many banking AML failures.
- Many risk assessments rely on feelings rather than analyzing illicit actors' tactics.
Hyper-Suspicious Mind Essential
- Many AML professionals lack a hyper-suspicious mindset needed to identify suspicious activity.
- Without this mindset, suspicious activities often go unreported, leading banks into regulatory trouble.
Hiring for Gut Instinct
- Sarah Beth hired AML analysts without traditional backgrounds by testing their gut instinct on suspicious activity scenarios.
- This approach revealed those with natural hyper-suspicious minds regardless of degree.