AML Conversations
Reputational Risk, Fraud, ML and Home Prices, and Tracking Domestic Terrorism
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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Quick takeaways
- The OCC's decision to stop examining banks for reputational risk raises significant concerns about customer trust and financial stability.
- A FTC report highlights a staggering $10 billion loss to U.S. consumers due to fraud, emphasizing the urgent need for enhanced vigilance against scams.
Deep dives
Challenges in Law Enforcement Participation
The podcast highlights frustrations regarding limited participation from law enforcement at the AML Partnership Forum. Despite the presence of compelling discussions on topics like crypto crime and terrorist threats, some law enforcement officials were unable to contribute due to restrictions, which undermined the forum’s goal of information sharing. Notably, updates on the state of financial crime revealed ongoing concerns for the future, particularly as collaboration with law enforcement may be hindered moving into 2025. The discussions emphasized the importance of ongoing support for these agencies to effectively tackle emerging challenges in financial crimes.
