AML Conversations Reputational Risk, Fraud, ML and Home Prices, and Tracking Domestic Terrorism
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Mar 28, 2025 The conversation dives into the OCC's recent decision to halt reputational risk examinations for national banks, sparking significant implications. A startling FTC report reveals a staggering $10 billion in fraud losses, primarily due to bank transfers and crypto. Fascinatingly, a study links money laundering to rising housing prices in Germany. Additionally, the abandonment of a national database tracking domestic terrorism raises concerns amid increasing cybersecurity challenges. These topics highlight the urgent need for collaboration in tackling financial crime.
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Marquette Basketball Anecdote
- John and Elliot discuss the Marquette basketball team's early exit and highlight sports as ongoing entertainment.
- They use sports anecdotes to start their conversation with a light and relatable tone for listeners.
Challenges in Financial Crime Prevention
- The AML Partnership Forum highlighted challenges in crypto crime and terrorism threats.
- Law enforcement cooperation faces obstacles despite their dedication to financial crime prevention.
US Drops Domestic Terrorism Database
- The US stopped funding a national database tracking domestic terrorism, hate crimes, and school shootings.
- The annual threat assessment omits domestic terrorism, focusing instead on foreign threats like Russia and China.