The Laundry

Banks and financial institutions at the forefront are moving into the next frontier of AML. They focus on four primary areas, which we look more closely at in this week's episode.What are those four areas?1: Synergies with other risk types. How Fraud, AML, and Cyber can benefit from each other and leverage the fact that these divisions utilize the same data and can feed each other with information.2: Operational excellenceHow banks can capture "gold-standard KYC" in the frontline to deliver better customer journeys, more precise services, and a better banking experience.3: Collaboration across the industryIndustry players want to collaborate, understand, learn, and jointly develop new ways to combat risk through data sharing. 4: Higher efficiencyFalse positives cause tremendous requirements in terms of people and time spent on investigation. So how can banks ensure that their teams spend time where it matters? Catching the big fish?Tune in to this week's episode, where we also have AML-expert Magnus Johannesen back in the studio! Hosted on Acast. See acast.com/privacy for more information.

4.5 billion dollars from the Malaysian sovereign wealth fund, also known as 1MDB, was diverted to enrich the fund’s directors and even the former Malaysian Prime Minister himself, Najib Razak. Xavier André Justo, a former employee in Petro Saudi; a company receiving funds from 1MDB, is todays guest. A reporter reached out to him some years after his involvement, and it turned out Xavier had critical pieces of information that could lead to the downfall of the corruption within 1MDB. In this episode, we go over how Xavier came over the information he had, how he had to face big legal trouble and where his life is at now. Join us, and take a deep dive into how everything panned out and how he became the whistleblower of this big scandal. Hosted on Acast. See acast.com/privacy for more information.

How can Compliance Officers deliver more human-centric programs? Traditional compliance programs often do not think about behavioral drivers. Instead, traditional approaches think about how we would like people to behave rather than how they are likely to behave. That's the theory behind Human Risk, a London-based compliance firm run by this week's guest, Christian Hunt. Christian has over 25 years of experience in financial services. And he brings a unique perspective to the compliance field, having both been a regulator with a subsidiary of the Bank of England and a Risk & Compliance Officer at UBS.Tune in and learn why you should bring behavioral science to your compliance program. Hosted on Acast. See acast.com/privacy for more information.

The Legal Entity Identifier (LEI) is a unique 20-character, alpha-numeric code that contains information about an entity's ownership structure and thus answers the questions of 'who is who' and 'who owns whom.' The LEI has broad potential in use cases but also creates business value in two ways: first, it reduces transactional and operational friction in identifying transaction counterparties. Second, it provides essential information about a legal entity's background. In this week's episode, we have invited LEI expert David Silverman, CEO of Global FinReg, to discuss the use cases that demonstrate the wide potential application of the LEI.Enjoy!Learn more about David by visiting his company webpages: https://www.globalfinreg.com/ and https://fintech.builders/ Hosted on Acast. See acast.com/privacy for more information.

Crypto-native companies have lacked a stable and secure banking foundation to run their businesses without fear of being shut down by their banking partner. Or even being approved to open a corporate bank account, to begin with. New players have entered the marketplace to close this gap by providing compliant payment services to crypto businesses and crypto services to banks.One super exciting company is Denmark-based Januar. And in this week's episode, we chatted with Januar’s Chief Risk & Compliance Officer, Marcus Mølleskov, about why crypto compliance matters and how crypto companies work with AML.Enjoy! Hosted on Acast. See acast.com/privacy for more information.

Før Fipo-sjef, Nicklas Lundh går over i sin nye rolle som leder for strategisk etterretning i SEB har han tatt seg tid til en prat med oss. I denne interessante sesongpremieren snakker vi om samspillet mellom mennesker og maskiner i analysearbeidet, fordelene og utfordringene med mer informasjonsdeling mellom finansinstitusjonene, auto-lukking av transaksjoner, effekten av et felles system for innrapportering av saker i GoAML, trender, og mye mer. I tillegg ser vi på hvordan kriminelle bruker fotballklubber til å hvitvaske penger i vår nye spalte, "How Criminals Launder Money".Velkommen tilbake til en ny sesong av The Laundry! Hosted on Acast. See acast.com/privacy for more information.

For the final episode of season 1 of The Laundry, we invited investigative reporter, Dan McCrum to speak about his work on the Wirecard-story. This is a story about the wild rise and crushing fall of the tech giant Wirecard that was exposed as a billion dollar accounting fraud. The story raises big questions about corporate fraud, money laundering and the need for strong financial regulations. This episode is a roller coaster of events and stories and if you enjoyed it, we really recommend getting Dan's book, Money Men. Hosted on Acast. See acast.com/privacy for more information.

Forrige uke arrangerte vi FinCrime afterwork i Oslo med tema korrupsjon for over 100 bransjekollegaer. Vi var så heldig å få med Erling Grimstad fra advokatselskapet Erling Grimstad, Jan Erik Gran Olsen fra KPMG og Andreas Engstad fra Convier på scenen i en episode av The Laundry Live for å dypdykke ned i tema. Vi får høre de verste korrupsjonssakene Erling og Jan har vært vitne til, vi diskuterer hvordan man får avslørt korrupsjon og stiller det viktige spørsmålet "foregår det egentlig mer korrupsjon i Norge enn vi tror?" Hosted on Acast. See acast.com/privacy for more information.

In this episode, former McKinsey and AML expert Magnus Johannesen takes you through how big the AML market is, what challenges the banks and financial institutions face, and how new technology can be utilized to reduce costs and make AML processes better.Did you know that European banks and financial institutions spend €200bn+ on anti-money laundering per year? Over 75% of this is spent on personnel as they struggle to meet regulatory requirements for KYC (Know your customer). And the excessive cost and risk associated with KYC leave them screaming for new and better technology to help. Hosted on Acast. See acast.com/privacy for more information.

Økokrimsjef, Pål Lønseth sammenlignet korrupsjon med en "kreftsvulst av en annen verden" på Antikorrupsjonskonferansen. Og de siste ukene har nyhetsmediene vært tapetsert av overskrifter med ordet “KORRUPSJON”. Hva skjer? Blir det begått mye mer korrupsjon i Norge enn vi liker å tro?. Vi har invitert Økokrimsjefen i studio for å høre hvordan han vurderer risikoen for korrupsjon akkurat nå, og for å få noen konkrete tips til hvordan banker og finansforetak kan beskytte seg. Vi snakker også om det nye våpenet mot korrupsjon som Økokrim lanserte forrige uke, og hvorfor frakt- og ressurskrisen vi nå befinner oss i øker korrupsjonsrisikoen for norske selskaper i utlandet.  Hosted on Acast. See acast.com/privacy for more information.