AML Conversations

This week, the Basel Institute on Governance published its 2023 Annual Report, OFAC published regulatory changes about Cuba, and MONEYVAL’s issued an update to its mutual evaluation of the Holy See. John and Elliot discuss these items and their meaning for the financial crime compliance community.

The podcast delves into the 2024 National Illicit Finance Strategy, FinCEN's efforts to combat fentanyl trafficking, and the reforming of Australia's AML/CFT regime. They explore regulatory proposals, risk-focused frameworks, and the persistent issue of structuring. The hosts discuss the challenges of illicit finance in the art industry and reflect on criminal behavior in financial crimes.

This week, John and Elliot discuss a new report from the OCCRP about global bad actors using Dubai real estate, the World Wildlife Crime Report from the UN Office of Drugs and Crime, a report from FINTRAC on virtual currency ATMs, a report from the Bipartisan Senate AI Working Group, and more.

Topics include a Congressman indicted on money laundering charges, US sanctions on ransomware group LockBit, FinCEN's advisory on Iran-backed terrorist organizations, AML program deficiencies in a Montana bank, and discussions on the effectiveness of sanctions and third-party risk management

Join Joe McNamara (AML RightSource), Elena Christopher (HFS Research), and John Byrne (AML RightSource), on a deep dive into the recent joint market impact report, “Driving the Evolution of Financial Crime Compliance: The People and Tech Imperative”. Joe, John, and Elena discuss some of the report’s interesting findings on the evolution of financial crime compliance, the driving force behind the survey, as well as a few practical insights found between the lines of the report. Discover how technology, when merged with expert human insights, is revolutionizing anti-money laundering efforts, particularly as we navigate the complexities of digital assets and expanding regulatory frameworks. Tune in for a compelling discussion on fostering effective collaborations between compliance professionals and law enforcement to tackle financial crimes more efficiently in today's dynamic environment.

Topics include new policies on critical infrastructure security, easing restrictions on marijuana, and money laundering in US real estate. Also discussed are FinCen's real estate rule, TD Bank's AML provision, and the FBI's caution on crypto exchanges. Insights on fraud, money laundering, and banking supervision, along with FADF wire transfer recommendations.

This podcast episode covers topics such as elder financial abuse, environmental crime, and regulatory proposals in the anti-money laundering efforts. It also discusses industry pushback, legal challenges, international compliance, and upcoming webinars featuring IRS C.I. Chief.

Advisory experts Joshua and Jonathan discuss tuning and optimization in AML systems, focusing on transaction monitoring thresholds, performance metrics, SAR triggered by multiple rules, and balancing data-driven methods. They emphasize the importance of high-quality data, key performance indicators, and the technical process of tuning for effective AML compliance programs.

The podcast discusses fraud schemes with counterfeit US passport cards, complex money laundering via casinos and sportsbooks, and new stablecoin legislation. They also talk about regulatory proposals for hedge funds, alerts on cyber crime, online betting money laundering risks, and job cuts in risk management.

This podcast covers Treasury testimony in the US Senate Banking Committee, DOJ report on pandemic fraud, impact of Russia sanctions, bipartisan bill for pandemic fraud prevention, IRS actions against COVID fraud, recent Senate hearings on cryptocurrency regulations, global financial impact of sanctions against Russia, challenges in complying with treasury regulations, foreign policy tools, Cease and Desist Order for Bank Holding Company, retirement announcement of an IRS CI chief, and celebration of the podcast's 200th episode.