AML Conversations FATF Plenary, OFAC, ABA Litigation, DOJ, and Payment Fraud
Jun 20, 2025
Listen in as John and Elliot unpack the latest FATF Plenary outcomes, including the addition of Bolivia and the British Virgin Islands to the gray list. They delve into significant OFAC enforcement actions, such as hefty fines against companies involved with sanctioned individuals. The evolving DOJ stance on white-collar crime is intriguing, especially with notable cases highlighted. The conversation also touches on how federal regulators are taking proactive steps to combat payment and check fraud, emphasizing the importance of integrity in financial crime prevention.
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Key FATF Plenary Outcomes
- The June FATF plenary updated the gray list, adding Bolivia and BVI, while removing Croatia, Mali, and Tanzania.
- New guidance will focus on risk-based approaches and financial inclusion to enhance global AML effectiveness.
FATF Advances Payment & NPO Measures
- FATF advanced standards for cross-border payments aligned with G20 goals for faster, cheaper, and transparent payments.
- New FATF procedures target misapplication of measures protecting nonprofit organizations, fostering better financial inclusion.
Monitor the Genius Act on Crypto
- Pay attention to the recently passed bipartisan Genius Act regulating crypto and stablecoins.
- This legislation will influence oversight and compliance in the evolving crypto space.