AML Conversations

Exploring the challenges of emerging financial crime and geopolitical risks, the podcast discusses data management, technology advancements, and the need for enhanced capabilities in combating financial crime. The conversation touches on the complexities of monitoring transactions, global sanctions, and the significance of data analysis tools for effective risk understanding and prevention.

Discussion on new EU AML Regulations impacting crypto and luxury goods trading. Updates on Puerto Rico AML rules and recent sanctions news. Exploration of UN's humanitarian carve out and FinCEN's compliance guide for beneficial ownership access. EU's progress on aligning with global standards and upcoming FADF discussions on citizenship programs.

FinCEN issued a Notice of Proposed Rulemaking on giving investment advisors reporting and recordkeeping obligations under the BSA this week. FinCEN also posted a Financial Trend Analysis reviewing the use of convertible virtual currency and online child sexual exploitation and human trafficking. John and Elliot discuss these and other happenings this week and their meaning for the financial crime compliance community.

This podcast discusses the US Treasury's 2024 risk assessments, a proposal for real estate reporting, the importance of financial services, a recent fraud case in Alabama, the UAE coming off the gray list, challenges associated with money laundering, money laundering risk assessment, threats of terrorist financing and domestic extremism, and upcoming events and projects.

This week, Transparency International released its Corruption Perception Index for 2023. John and Elliot discuss the Index and several other items and their meaning for the financial crime compliance community.

A recent report uncovers anti-Muslim discrimination and information manipulation, shedding light on the impact of disinformation on humanitarian organizations. Successful anti-corruption initiatives in Peru take center stage, showcasing the importance of international support. Discussions also delve into national security risks tied to foreign investments in U.S. farmland and the collaborative efforts against ransomware. The conversation highlights the need for accuracy in policies that affect both finance and humanitarian work.

This week Nasdaq issued its 2024 Global Financial Crime Report, the UN Office of Drugs and Crime released a report on casinos, underground banking, and money laundering, and the Anti-Defamation League published a report on the use of cryptocurrency exchanges by US extremists to foster their fundraising efforts. John and Elliot discuss these reports and their meaning for the financial crime compliance community.

Jim Lee, IRS:CI Chief, returns to AML Conversations to share his thoughts on the IRS:CI 2023 Annual Report, the work of the J5, several key IRS cases, and the first coverage of the 2023 BSA Data Challenge.

Experts John Byrne and Elliot Berman discuss 2024 trends in financial crime prevention, including global threats, corruption, transparency, and innovations in AML. They emphasize the need for advancements and collaborative solutions to tackle ongoing challenges in the industry.

This week, several interesting reports were released. Eurasia Group issued its Top Risks 2024, Human Security Collective published The Future of FATF Recommendation 8, FinCEN issued a Financial Trend Analysis and much more. John and Elliot discuss these and their meaning for the financial crime compliance community.