AML Conversations

Shelby Katona, an expert from AML RightSource, discusses the crucial link between financial compliance and human trafficking detection. She reveals how financial institutions can identify subtle patterns that expose trafficking networks, emphasizing the importance of recognizing transaction red flags. Shelby shares insights on the evolving tactics of traffickers and introduces innovative strategies for monitoring suspicious activities. Her practical tips aim to empower compliance teams to combat this devastating crime and safeguard vulnerable individuals.

In this week's TWIA episode, John Byrne and Joe McNamara cover critical developments in financial crimes prevention across multiple jurisdictions. Cultural Racketeering Crisis Insights from a recent Atlantic Council program reveal Russia's systematic assault on Ukraine's cultural heritage: 200 million books destroyed, 35,000 artifacts stolen, and 2 million artifacts lost. Russian museum officials are personally complicit, prompting President Zelenskyy to issue sanctions against museum directors. Experts highlight AI's growing role in tracking stolen cultural property. Regulatory Updates FinCEN delays the investment advisor AML rule until 2028, citing deregulatory priorities despite acknowledging ongoing illicit finance risks. The President's working group releases digital asset market recommendations, while FinCEN warns about crypto kiosks being used for scams targeting older adults. International Developments The IMF's Canada financial stability assessment raises concerns about banking oversight gaps. New UK guidance addresses Russian sanctions evasion, while a British solicitor faces fines for AML failures in an Azerbaijan-linked property deal, highlighting ongoing gatekeeper compliance debates. The De-Banking Controversy Analysis of the proposed executive order targeting banks for alleged political discrimination. John Byrne challenges "Operation Choke Point 2.0" claims, emphasizing that banks make legitimate risk-based decisions considering credit worthiness and regulatory requirements. Discussion includes potential implications for suspicious activity reporting. Additional Coverage John Oliver's examination of deferred prosecution agreements in corporate crime cases provides context on this controversial prosecutorial tool's AML applications.

Join Amy Petric, a fraud patterns expert, and Ross Yellon, a global payment processing specialist, as they delve into the complexities of synthetic identity fraud. They reveal how fraudsters create fictitious identities using real data, making detection incredibly challenging for financial institutions. The discussion highlights the critical balance between automated systems and human oversight in combating these tactics. With insights on using technology and training staff to recognize red flags, this conversation sheds light on the ever-evolving landscape of fraud.

Nikki Siko, a check fraud and remote deposit expert, and Patrick Haney, a specialist in wire fraud, dive into the shifting landscape of payment fraud. They discuss the surprising resurgence of check fraud and the rise of ACH scams. Real-world examples highlight the tactics used by fraudsters, including social engineering. The importance of customer education and innovative detection strategies to combat these challenges is emphasized. They also reveal insights on banks' varying responses to victims and suspects in fraud cases.

In this week's episode, Joe McNamara and John Byrne examine significant shifts in the regulatory landscape, starting with a tribute to compliance leader Anna Rentschler. They dive into concerning changes to FCPA enforcement guidance that critics say abandons universal ethical standards, the OCC's unusual LinkedIn post signaling increased risk tolerance for banks, and growing threats to the Corporate Transparency Act. The discussion moves internationally to cover the UK's crypto asset sanctions compliance findings, the EU's latest money laundering risk assessment highlighting fintech vulnerabilities, and an FBI advisory on the Scattered Spider cybercriminal group.

David Tyree, Senior Advisor for Financial Crime Detection and AML for Valid 8, shares his views on the most essential ways to utilize bank data gleaned from his decades at DEA to his current work.

Treasury's decision to delay the investment advisor AML rule raises eyebrows, especially during the FATF evaluation. A stark report reveals $2.17 billion lost to crypto crime in 2025, with North Korea's heist stealing the spotlight. Meanwhile, Russian universities are controversially teaching sanctions evasion amidst new EU sanctions tightening the oil price cap. The discussion also touches on fresh regulations for stablecoins and the Wolfsburg Group’s latest on AML compliance strategies. Upcoming webinars on AI's role in fraud prevention promise intriguing insights.

In this episode, Elliot Berman and John Byrne discuss the U.S. legislative gridlock around crypto regulation during “Crypto Week” and the Senate’s bipartisan recognition of the need for a crypto market structure. The conversation also highlights the Basel Institute’s 2024 report, a GAO study on organized fraud in federal programs, and troubling staffing cuts at the State Department’s anti-trafficking and counterterrorism offices. They also examine enforcement actions against Wise and other issues affecting the financial crime prevention community.

In this episode, Elliot Berman and John Byrne dive into the latest developments in global financial crime compliance. They unpack the FATF’s new report on terrorist financing, explore upcoming U.S. legislation on cryptocurrency and stablecoins, and discuss AUSTRAC’s expanded AML/CTF regulations in Australia. The conversation also covers the FCA’s updated guidance on politically exposed persons (PEPs) and enforcement actions against digital banks like Monzo, and other issues affecting the financial crime prevention community.

In this conversation, Jeff Fischer, Director in the Financial Crimes Advisory Group at AML RightSource, shares his insights on modernizing risk assessment practices in financial institutions. He emphasizes the integration of fraud and AML considerations and the importance of adapting to regulatory changes. Jeff highlights the value of collaboration and proactive methodologies, leveraging technology for dynamic assessments. He also discusses how early risk assessments can enhance product development and the role of automation in streamlining compliance, ultimately improving risk management strategies.