AML Conversations

This week, John and Elliot discuss the SEC’s statement on offerings and registrations of securities in the crypto asset markets, the UK requirement for identity verification for corporate directors and controlling owners, FinCEN’s renewal of geographic targeting orders relating to residential real estate, FCA’s updated Financial Crime Guide, and other items impacting the financial crime prevention community.

This discussion dives into the alarming nexus of fentanyl and illicit finance, spotlighting shocking statistics on suspicious transactions. There's also a critical evaluation of a cybersecurity breach affecting the OCC and its implications. Fines against Revolut highlight ongoing compliance challenges facing online banks. The evolving focus on crypto crime enforcement raises eyebrows, especially as oligarchs increasingly invest in U.S. real estate, hinting at deeper corruption issues. It's a gripping look at the intersection of technology, crime, and regulatory responses.

John Tobon sits down with us and discusses his over 30-year career battling financial crime at US Customs and HSI.

This week, John and Elliot discuss Transparency International’s Opacity in Real Estate Ownership Index, FinCEN’s alert on bulk cash smuggling by Mexican cartels, IRS-CI’s release of 2024 BSA metrics, and its CI-FIRST initiative, Congressional hearings by a House Financial Services subcommittee, and other items impacting the financial crime prevention community.

Alison K. Jimenez, President of Dynamic Securities Analytics, Inc., and Steven Kemmerling, Founder & CEO of CRB Monitor, dive into the crucial role of AML analytics in compliance. They discuss their experiences in economics and how data is pivotal in tackling financial fraud, especially in the cannabis industry and human trafficking. The duo also addresses the complexities of identifying digital asset businesses, the rise of financial sextortion scams, and the evolving compliance landscape in emerging markets. Their insights shed light on how institutions can better combat these challenges.

The conversation dives into the OCC's recent decision to halt reputational risk examinations for national banks, sparking significant implications. A startling FTC report reveals a staggering $10 billion in fraud losses, primarily due to bank transfers and crypto. Fascinatingly, a study links money laundering to rising housing prices in Germany. Additionally, the abandonment of a national database tracking domestic terrorism raises concerns amid increasing cybersecurity challenges. These topics highlight the urgent need for collaboration in tackling financial crime.

This week, John and Elliot discuss the 2024 Annual Report from ICIJ, OCCRP’s reporting on the UK’s enhanced enforcement activities, FATF’s Second Public Consultation on Recommendation 16, the Basel Institute on Governance’s Project Falcon, the New Zealand national risk assessment, and other items impacting the financial crime prevention community.

Hanjo Seibert, a Managing Director of BCG, outlines the importance of technology in compliance and compliance itself to address fraud in 2025.

AI Podcast Project 2019 No Music by AML RightSource

In this edition of AML RightSource Voices, we're exploring the impact of cannabis legalization on financial institutions (FI). What has changed? What hasn’t? And what can FIs do? Chuck Taylor, AML RightSource’s Executive Vice President and Head of Financial Crimes Advisory and Elliot Berman, AML RightSource’s AML/BSA Thought Leader will discuss the current state of law and regulation of FI activities with participants in the cannabis and hemp industries, possible changes in the landscape, and how some FIs are interacting with this customer segment today.