AML Conversations

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.

This week, the US Beneficial Ownership Registry went live, Senator Menendez was charged with additional allegations, export enforcement is back in the news, the US Department of Justice received new authority in foreign bribery cases and much more. John and Elliot discuss these and their meaning for the financial crime compliance community.

This episode originally aired on September 22, 2023 The Financial Crimes Enforcement Network (FinCEN) has published a Small Entity Compliance Guide for beneficial ownership information. A set of FAQs accompanies the guide. John and Elliot discuss the guide, the current compliance deadlines announced by FinCEN, and their thoughts on what may change shortly. They also chatted about a recent consent order between FinCEN and an international banking entity in Puerto Rico.

This week, an advisory on spear-phishing was issued, the US Department of Justice brought indictments for an $80 million pig butchering scheme, and several other interesting things surfaced. John and Elliot discuss these and their meaning for the financial crime compliance community.

This week, the US Treasury issued a Fact Sheet on its action to disrupt corruption, FINTRAC levied fines against another bank for AML/CFT program violations, The US House passed changes to the beneficial ownership registry rules, and several other interesting things surfaced. John and Elliot discuss these and their meaning for the financial crime compliance community.