Financial Crime Matters

'These tools make it harder, costlier and riskier [for rogue actors] to move money around the world.' In this episode, Juan Zarate explains why sanctions shouldn’t be treated like a light switch, what he thinks about the US withdrawal from the JCPOA, and why financial tools are at the heart of national security efforts. In one of Financial Crime Matters' most wide-ranging interviews, Kieran Beer also asks Juan to comment on the delicate balance between privacy and transparency, and finally…what keeps him up at night. While at the US Treasury, Juan Zarate advised the White House on Terrorist Financing and Financial Crimes, and led the global hunt for Saddam Hussein’s assets. He is the author of 'Treasury's War: The Unleashing of a New Era of Financial Warfare' (2013), the Chairman and Co-Founder of the Financial Integrity Network, and the Senior National Security Analyst for NBC News. Read his full biography here: https://www.finintegrity.com/juan-c-zarate

‘We can continue to see them as an adversary or threat…and [still] negotiate an end to their nuclear program’. In this episode, recorded in February before the scale of the global COVID-19 outbreak became apparent, Kieran Beer and Adam Szubin discuss the effectiveness of sanctions on Iran and Venezuela, and the Kingpin Act. A sanctions insider for many years, Adam Szubin has a distinguished history of service with the US Treasury, including nine years as the Director of Treasury’s Office of Foreign Assets Control (OFAC). As one of the architects of the JCPOA, he’s uniquely placed to comment on the current US administration’s shifts in sanctions policy, and the effect they’re having on geopolitics – far beyond the borders of Iran. Adam Szubin Biography: https://sais.jhu.edu/users/aszubin1

In the first episode of Financial Crime Matters Season 2, Anton Moiseienko and Kayla Izenman of RUSI talk to Kieran Beer about their recent report on money laundering in the online gaming world (Fortnite, Clash of Clans and others). Hear how third party marketplaces are being used to exchange game currency (bought with illegal funds) for fiat currency, how financial institutions can spot this activity, and what the regulatory response has been so far. Read the full RUSI report here: https://rusi.org/publication/rusi-newsbrief/gaming-system-money-laundering-through-online-games"

In Vancouver there are many high-end apartments where the lights never go on... In 2018/2019, Professor Maureen Maloney led an expert panel investigating Money Laundering in British Columbia's real estate sector. The expert panel reported that up to $5.3 billion was laundered through the BC real estate market in 2018, raising housing prices by an estimated 5%. In this podcast, the final episode of Financial Crime Matters Season 1, Kieran Beer and Maureen Maloney unpick why British Columbia is so vulnerable to money laundering, and how authorities might move to stop it. Access the expert panel's full report at: https://www2.gov.bc.ca/gov/content/housing-tenancy/real-estate-bc/consultations/money-laundering

At 20, Timea Nagy was forced into sex slavery. But her story didn't end there. Her memoir 'Out of the Shadows' describes a vulnerable girl, tricked and manipulated by traffickers, who - once she escapes - becomes a key player in putting away the bad guys. In this episode, Kieran asks how financial institutions can help. And Timea explains that their evidence might soon prevent victims from suffering the secondary trauma of a court case, like the one she faced. Read more about Timea, and her passionate commitment to raising awareness of human trafficking at https://www.timeascause.com/about 'Out of the Shadows': https://www.amazon.com/Out-Shadows-Memoir-Timea-Nagy/dp/0385692587

Jeffrey Robinson introduced stories of money laundering to the masses with his 1995 global best seller 'The Laundrymen'. Poised to release a completely revised edition 'The New Laundrymen' next year, Jeffrey gives Kieran a behind-the-scenes glimpse of what's included. Always opinionated and deeply passionate about the characters and stories he uncovers, Robinson, the author of 30 books, has been labelled "the world's leading financial crime author." Read Jeffrey's full bio on his website: http://www.jeffreyrobinson.com/bio

FATF spoke...and Canada listened. Jacqueline Shinfield of Blake, Cassels & Graydon walks Kieran Beer through the sweeping changes that Canada is making to its AML and Anti-Financial Crime legislative landscape. From regulating virtual currencies, changes to STR regimes, and dramatic shifts in Electronic Funds Transfer reporting frameworks - this is a must-hear briefing for all compliance professionals. And...it's just the start. Jacqueline tells us where Canada might tighten regulations even further as it seeks to match shifts in technology, and how our society shapes itself today. Read Jacqueline's full bio at: https://www.blakes.com/English/WhoWeAre/FindPerson/Pages/Profile.aspx?EmpID=105921 We're also delighted to welcome Jacqueline as a speaker at the ACAMS 18th Annual Vegas Conference, which started today! Are you in Vegas this year? If you are, Kieran would love to hear in person how you're enjoying the Financial Crime Matters series...or give him a shout out on twitter at www.twitter.com/kieranbeer #ACAMSVegas

'We're now treating the Financiers just as seriously as the Terrorists themselves...that's a Gamechanger'. In this expansive chat about the financing of global terrorism, Celina Realuyo tells Kieran Beer about the defeat of ISIS, the rise and reach of Hezbollah and how criminals are using every trick in the financial crime book to keep money flowing to those intent on creating Terror. As a former US diplomat, international banker with Goldman Sachs, US counterterrorism official, and professor of international security affairs at the National Defense, Georgetown, George Washington, and Joint Special Operations Universities, Professor Celina Realuyo has over two decades of international experience in the public, private, and academic sectors. Read her full biography here: https://www.williamjperrycenter.org/about/full-time-faculty/ms-celina-realuyo

"Data Protection is not an obstacle to fight money-laundering" : Alexandra Jour-Schroeder of the European Commission In this episode, Kieran Beer hosts a fast-paced discussion with Alexandra Jour-Schroeder about the European Union's efforts to fight money laundering and the financing of terror. Their chat covers a diverse range of topics, from 5AMLD to GDPR, the effort to harmonise definitions across the EU's member states, and how the European Commission is working to bring together all of the actors who are fighting financial crime.

Elder financial abuse is as devastating as physical abuse, and it's a problem on the rise. In this episode, Elizabeth Loewy and Kieran Beer explore both simple and high-tech ways to pick up on the signs that vulnerable adults might be being defrauded. With an estimated 70-80% of all US assets now held by seniors (the Baby Boomers are aging!), financial institutions have to be prepared to spot and respond quickly to elder abuse scams. If you're a compliance officer, do you know what to look for, and what to do if you think there's a problem? Elizabeth Loewy has spent three decades fighting elder abuse, first as a Prosecutor (she served as co-counsel in the trial involving the financial exploitation of well-known philanthropist Brooke Astor by her son and his attorney, which resulted in convictions to both defendants), and now as co-founder and COO of FinTech company EverSafe. Read more about Liz's background at https://www.eversafe.com/team/