Sabeen Baakza

A Responsible Evaluation of Enterprise-Wide AML/OFAC Risk

By Sabeen Baakza | September 15, 2017

How effective is your financial institution (“FI”) at assessing the overall inherent risk within your organization? Where is the highest amount of risk concentrated within the enterprise? How is risk even assessed? The responses to these questions all converge to one locale—the foundation for maintaining and safeguarding the integrity of your FI begins and ends with your AML and OFAC Enterprise-Wide Risk Assessment (“ERA”). In this post, we examine the mechanism behind developing a resilient…

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Threat Finance Spotlight on the Democratic People’s Republic of Korea

By Sabeen Baakza | July 10, 2017

Last time we detailed a methodical approach for US financial institutions (“FI”) in the development of an effective anti-money laundering (“AML”) transaction monitoring strategy, concluding with tuning and optimization of the AML monitoring environment. But why is frequent and ongoing tuning and optimization of monitoring rules and/or detection scenarios essential? In this post, we closely examine the current global threat environment and more specifically, the innovative tactics, techniques and procedures (“TTP”) exploited by illicit actors…

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The Trump Era: Potential Shifts in the Anti-Money Laundering Sphere

By Sabeen Baakza | December 1, 2016

At the onset of a new administration piloted by President-Elect Donald Trump, propelled by the potential of financial deregulation and anticipated changes in the international regulatory framework, the anti-money laundering (“AML”) infrastructure hangs in the balance. Will the Joint Comprehensive Plan of Action (“JCPOA”) be disbanded by Trump, with a reversion back to stringent sanctions on financial dealings with Iran, mitigating AML risks associated with the well-known terrorism financing haven? Will we experience a deregulation…

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