John Byrne


By John Byrne | January 30, 2019

Beginnings* Only just a start Congress starts on a bipartisan basis There have been a few posts and stories (to say the least) about how the change in power in the US congress in 2019 can impact the financial community. With the potential for investigations on everything from consumer abuse to compliance deficiencies and any other scandals, the AML community ignores the legislative branch at their peril. For several previous sessions, it was easy to…

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Maybe there will be a balanced report on the state of money laundering… In the Year 2525*

By John Byrne | January 7, 2019

Every time a report is issued in late December, you have to wonder about impact. Although the advent of active social media makes it more likely that there are no longer “news dumps”, let’s assume the best and review a recent posting of the Treasury Department’s “National Strategy for Combating Terrorist and Other Illicit Financing.” The report is actually four separate documents and I would urge everyone to read all four—mainly because several are clearly…

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The 2019 AML List!

By John Byrne | December 18, 2018

As I have done in previous years, will be looking ahead to 2019 and what may be in store for the AML/CTF/Financial Crime Prevention community. With new committee chairs in the US House and several retirements in the Senate, it is a safe bet that any policy debates in our area will be somewhat different than the last two years. If you add on what is likely to be a financial focus on investigations of…

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Give Me Just a Little More Time*

By John Byrne | December 3, 2018

Give Me Just a Little More Time* For 2019 AML Predictions? For no other reason than the calendar, it is time to start preparing for whatever 2019 holds for us in the AML community. What follows is my attempt to combine a brief summary of 2018 actions with predictions for what’s next. (As always, the information here should not be used for any wagering)   AML Reform? I have opined quite a bit in the…

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Interview of Susan Galli by John Byrne

By John Byrne | November 13, 2018

Interview of Susan Galli by John Byrne Susan Galli, an ACAMS Advisory Board member and long-time AML veteran, is currently assisting AML RightSource in their advisory practice. While involved in a vast array of issues that challenge financial crime prevention professionals, one area of focus is the risks involved in correspondent banking. Susan recently moderated a panel at the ACAMS Vegas conference on this topic and sat down to discuss some of the key concerns…

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Inaugural AML RightSource Symposium

By John Byrne | November 8, 2018

Inaugural AML RightSource Symposium Do You Want to Know a Secret!* Close to twenty current and former bankers who are leaders in the AML/Financial Crime area from institutions and firms of various asset sizes, met in Washington DC to discuss current and future challenges. AML RightSource was pleased to organize the dialogue and document several of the themes for use to the broader AML community. With respecting the need for anonymity, what follows is a…

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No Lookin Back*

By John Byrne | October 23, 2018

No Lookin Back* Expansion of AML is not going to stop Nor Should It AML, just like technology, started slowly but in the past 5-10 years has either rapidly increased or challenges have appeared that we need to address. For example, the recent FATF Plenary issued a strong statement on “virtual assets” and concluded, among other things that: “All countries are encouraged to swiftly take the necessary steps to prevent the misuse of virtual assets.…

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Shades of Gray*?

By John Byrne | September 12, 2018

Shades of Gray*? A Recent History of Relevant Congressional Investigations for the AML Community: Informative but Not Nuanced Having been in the AML community for over thirty years, I remain frustrated that I am aware of the true dedication of the men and women in this area that are proactive, dedicated and effective in stopping and detecting financial crime but many others are not (or choose to ignore the facts). While the financial sector is…

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Tell Her (or Him) No*

By John Byrne | August 7, 2018

Tell Her (or Him) No* Buying or Selling Antiquities Can Assist Terrorism After so many years of following the AML community and being a part of that great group, it is hard to surprise me on ways in which illicit funds can move to support a wide array of financial crime. So when invited to a recent roundtable discussion on yet another method for criminals to take advantage of, I was curious and wanted to…

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“Get Together”*

By John Byrne | July 20, 2018

“Get Together”* A Call for Partnership to Battle Human Trafficking Last week I was able to attend the roll-out of a new report by the leader in anti-human trafficking, Polaris. The report, “On-Ramps, Intersections, and Exit Routes: A Roadmap for Systems and Industries to Prevent and Disrupt Human Trafficking” is the sequel to their last report on trafficking typologies. The new report, according to CEO Bradley Myles, covers the intersections of the previous posted typologies. Myles…

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