AML Conversations

Delve into the implications of foreign investment in the U.S. as experts discuss recent regulatory changes. Discover new sanctions targeting fentanyl producers and the critical findings from Europol on migrant smuggling and human trafficking. The conversation also highlights bipartisan efforts to enhance financial regulations and security, including a focus on AI's impact on financial services. Gain insights into the need for updated anti-money laundering practices and examiner training amidst these complex challenges.

This discussion reveals significant announcements from the Justice Department about repatriating funds for victims of financial crimes. The Federal Reserve's actions against Banking as a Service highlight compliance challenges for institutions. Critical insights on the infrastructure needed to combat elder financial abuse emphasize the importance of reporting obligations. Experts share thoughts on corruption and the evolving landscape of anti-money laundering reforms, inviting listeners to deepen their understanding of these pressing issues.

Bonnie Goldblatt, founder and CEO of AML Art Compliance Experts, brings her unique perspective from law enforcement and finance to the conversation. She reveals how art is exploited for money laundering, discussing the opacity of the industry and the challenges faced by financial institutions. Goldblatt emphasizes the importance of provenance in tracking art and combating fraud. She also highlights how high-value artworks are used to move oligarch wealth and stresses the need for robust compliance initiatives in galleries and auction houses.

Explore the implications of a new GAO report on Currency Transaction Reports affecting financial institutions. Discover how automation is changing banking compliance amid rising cyber threats. Dive into the significance of credit risk and the Wolfsberg Group's transparency guidelines. Unpack recent U.S. Treasury sanctions targeting narcotics traffickers and the balance between regulation and humanitarian aid. Plus, stay tuned for reflections on the past year and exciting upcoming topics!

This week, John and Elliot discuss the recent report on Forced Labor in the Global Supply Chain, the 2024 Annual Report from IRS:CI, several actions taken by the US Treasury, OFAC, and FinCEN, an interesting blog about how to tackle the growing impact of fraud, and other items impacting the financial crime prevention community.

This week, John and Elliot discuss the Federal Court decision enjoining the Corporate Transparency Act, the latest Basel AML Index, the Human Security Collective's recent sanctions mapping study, various actions by the US Treasury, remarks by the UK’s new head of cybersecurity, and other items impacting the financial crime prevention community.

This episode originally aired on August 30, 2024 This week, John and Elliot discuss FinCEN’s new final rules for reporting on residential real estate transactions and the program requirement for investment advisors. They also look at HSI’s Project Red Hook, its efforts to stem gift card fraud schemes, and a report from the University of Sussex, which rates the US as the preferred hub for corrupt financial transactions.

This week, John and Elliot discuss actions by the US Treasury against Hamas and fentanyl traffickers, new regulations from CFIUS to enhance enforcement of limitations on foreign investment in the US to protect national security, new guidelines from the European Banking Authority to streamline and standardize AML rules, observance of International Fraud Awareness Week, and several other items impacting the financial crime prevention community.

This week, John and Elliot discuss comments by the AUSTRAC CEO, FinCEN’s proposed real estate reporting form, a new UN report on trends in financing terrorist fighter’s activities, a new Commerce Department report on investigations of export control and anti-boycott violations, the arrest of the Spanish Police AML Chief on corruption charges, and several other items impacting the financial crime prevention community.

This week, John and Elliot discuss the regulatory action in the UK to require sellers of art to verify the identity of buyers and their source of funds, the action by Companies House requiring the collection and retention of corporate director identity data, several prosecutions under the Export Control Reform Act, a request from the Canadian Bankers Association to reduce the number of STRs required to be filed, and several other items impacting the financial crime prevention community.