Designated with Yaya Jata Fanusie

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.

What does it take to run a nation’s anti-financial crime agency and stay one step ahead of those adapting to the changing world of finance faster than the government agencies tasked with stopping them?  By building better investigative and analytic methods through new technologies. Dr. Shlomit Wagman was the Director-General of the Israel Money Laundering and Terror Financing Prohibition Authority. She served when terrorist groups in the region first began experimenting with cryptocurrencies. She saw their new methods up close and helped develop technologies and investigative methodologies to go after them. Designated host, Yaya Jata Fanusie recently spoke with Dr. Wagman where she described the challenges and successes while leading such a massive operation and reminds us all that technology is a tool that can be used, for good and bad, depending on who yields it and how. Designated’s Proud Sponsors:TRM offers leading blockchain intelligence for AML compliance at financial institutions, crypto businesses, and regulatory organizations alike - with sanctions support on 65 blockchains and coverage of more than 70 million digital assets.  In a recent customer survey, 85% of users agree that TRM accelerates their work. 92% of users agree that TRM provides actionable intelligence. And 83% of users agree that TRM has provided intelligence they would not otherwise have.  See for yourself why our customers rave about TRM by requesting a free trial or demo at trmlabs.com

Scott Baucum, Vice President of Special Compliance and Asset Protection at Bayer U.S., shares his expertise on insider threats and economic espionage. Growing up in Texas, he transitioned from teaching agriculture to combating espionage aimed at biotech secrets. He discusses the complexities of insider threats, including a notable case involving a Chinese employee. Baucum emphasizes the need for proactive strategies to safeguard information, highlighting cultural differences in IP practices and the necessity of public-private partnerships for enhanced national security.

Sometimes it takes a money launderer to catch a money launderer.  During the 1980’s, Ken Rijock was starting his career as a lawyer in Miami. But he soon found himself acting as a middleman between Colombian drug cartels and their expanding US network, helping launder illicit funds gathered through flooding cocaine onto America’s streets. By his account, he ended up “cleaning” about $200 million in drug cash. Eventually, Ken was caught, sentenced and served time in prison. However, upon his release, Ken was approached by government agents and made an offer to help their mission becoming an undercover informant.  Designated host Yaya Jata Fanusie recently spoke with Ken about his life’s journey and his experiences during the two distinctly opposite phases of his time as The Laundry Man. Working alongside drug dealers during his high-flying, money laundering days.. and the next phase of his life as the anti-money laundering financial crime fighter. Helping law enforcement detect who was trying to launder money and those who were committing the same crimes that Ken knew so well.  Designated’s Proud Sponsors:TRM offers leading blockchain intelligence for AML compliance at financial institutions, crypto businesses, and regulatory organizations alike - with sanctions support on 65 blockchains and coverage of more than 70 million digital assets.  In a recent customer survey, 85% of users agree that TRM accelerates their work. 92% of users agree that TRM provides actionable intelligence. And 83% of users agree that TRM has provided intelligence they would not otherwise have.  See for yourself why our customers rave about TRM by requesting a free trial or demo at trmlabs.com

John A. Cassara, a former CIA Case Officer and Treasury Special Agent, brings 26 years of expertise in combatting financial crime. He discusses the critical role of human intelligence in financial investigations, especially post-9/11. John shares thrilling anecdotes from his undercover work, including infiltrating arms dealing networks. He sheds light on the intricate Hawala system and its implications on illicit finance, while also advocating for enhanced enforcement within the Treasury to tackle evolving global threats.

Have you ever met a corporate whistleblower? Most of us haven’t. They do make the subjects of great movies, though. There's intrigue, suspense, and high stakes.  And usually a happy ending. But what exactly happens in real life when someone high up in a company, privy to corporate secrets, witnesses illicit dealings in their midst? How does that process play out? And at what cost.. Personally and professionally?Designated host Yaya Jata Finuse recently spoke with Phil Brewster, an attorney whose specialty is helping clients who have decided to become whistleblowers. They discussed the real-life impacts of these high-stress investigations, which most often involve the personal stakes for the whistleblowers that Hollywood can’t fully convey. Designated’s Proud Sponsors:TRM offers leading blockchain intelligence for AML compliance at financial institutions, crypto businesses, and regulatory organizations alike - with sanctions support on 65 blockchains and coverage of more than 70 million digital assets.  In a recent customer survey, 85% of users agree that TRM accelerates their work. 92% of users agree that TRM provides actionable intelligence. And 83% of users agree that TRM has provided intelligence they would not otherwise have.  See for yourself why our customers rave about TRM by requesting a free trial or demo at trmlabs.com

In this conversation, Lourdes Miranda, a former CIA Officer and FBI Analyst, shares her fascinating journey from familial encounters with crime to becoming an expert in financial investigations. She emphasizes how her unique background equips her to think like a money launderer. Lourdes discusses the complexities of navigating privacy laws, the rigorous agency recruitment process, and vital skills for those interested in financial crime prevention. She also highlights the challenges startups face in fortifying themselves against money laundering.

C4ADS- Center for Advanced Defense Studies- is a nonprofit that works to uncover illicit networks that threaten global peace and security through deep-dive investigations and intelligence analysis on data that may be publicly available, but hard to find. Through their investigative work, they’ve been able to map out secret business and real estate networks designed by corrupt military leaders in Sudan and unravel the multilayered supply chain enabling forced labor camps of Uyghurs in China.Varun Vira is the Executive Director of C4ADS.  He spoke with Designated  host Yaya Jata Fanusie about how his nimble organization is at the forefront of using open-source intelligence to shine the light on global networks trying to keep their dealings of dirty money and illicit operations in the dark.  C4ADS’s investigations have made a significant and material impact and the targets of their investigations have taken notice.  And although their efforts have become more necessary than ever, they come with tremendous risk. 

As with the transition of power for every Presidential administration, agendas are rethought, and priorities realigned.  And although America’s global economic and political power is buttressed by the integrity of its markets and sound rule of law, we must still be mindful of evolving methods of economic warfare and continued threats to our national security and economic standing. So what exactly should the incoming Trump administration be focused on and prioritizing?Juan Zarate was the US counterterrorism czar under President George W. Bush, the first Assistant Secretary at the Treasury Department to oversee Terrorist Financing and Financial Crimes, and also authored Treasury’s War: The Unleashing of a New Era of Financial Warfare.  Juan joined Designated host Yaya Jata Fanusie to share his expertise on the risks our adversaries and these massive threats pose to our economic, social, and political lives and how the Trump administration would be best served in addressing them. 

Jim Richards, a veteran banking executive and financial crime fighter, delves into TD Bank's shocking $3.1 billion penalties for money laundering. He unpacks systemic failures, emphasizing the role of compliance officers and the dire need for accountability in banking. Richards discusses the troubling trend of financial institutions prioritizing profits over ethics, and he underscores the urgency for consumer awareness and regulatory reform to prevent future scandals. His insights shed light on the fragile trust between banks and their customers.