Financial Crime Compliance Resources
Explore a comprehensive collection of insights, articles, and updates dedicated to Financial Crime Compliance. Here, you’ll find the latest trends, expert analysis, and practical resources designed to help you stay ahead of regulatory changes and enhance your organization’s compliance strategies.
“The American art market is a black hole to law enforcement, because it is not required to assist the Federal government with preventing or detecting financial crimes, one consequence of the sector’s avoidance of...
2023 was a turbulent year that contained an extensive number of events that correlate to our broad-based AML community. Whether it be corruption, sanctions, money laundering, or other parts of financial crime, our...
Elliot Berman and I were pleased to be able to post close to 50 new conversations in 2022 about the many challenges, both domestic and international, that our community continues to face. As expected, the themes were...
Russia, Real Estate and Other Things*
There is an old idiom, attributed to the British that “March comes in like a lion and goes out like a lamb.” For the financial crime prevention community in the US, that probably won’t be accurate since we expect a...
“The U.S. government and private sector must work together to bar criminals from exploiting the $28.3 billion American art market—the largest unregulated market in the world—or risk serious consequences for the...
What happened in 2021 and what to expect going forward?
Where Do We Go from Here?[i]
Building on the various themes and issues addressed the AML Act of 2020, the Treasury Department has now published the mandated AML/CFT priorities included the Bank Secrecy Act (BSA) as...
We in the financial crime prevention community are still assessing how the new Administration will address white collar crime and accompanying regulatory oversight. With the recent announcements about a new focus on tax...
“Something Good This Way Comes”[1]
As the new Congress and the Biden Administration continue to grapple with COVID relief, economic uncertainty, national security and all the proverbial “curveballs” facing society;...
I have always enjoyed The Washington Post’s (and I am sure various other publications) list for the next year. The uniqueness is, of course, they eliminate a popular or hot issue with a new one for the next calendar...
Ball of Confusion[i]
Having been in what we call the AML community for close to 35 years, it was always clear to me that a “year-in-review” is both arbitrary and doesn’t really give you a cohesive sense of themes....
Finally, “Work to Do”[i]
Having spent a good deal of my career dealing with legislation, regulations, guidance and assorted policy statements, it never ceases to amaze me how long some things take from start to finish....
No Deja Vu[1]
Examiners will consider the unique, evolving, and potentially long-term nature of the issues confronting institutions and exercise appropriate flexibility in their supervisory response. Stresses caused by...
“Time won’t let me”[I]
The need to move quickly..
As the AML community grapples with increased fraud and financial crime during this global pandemic, previous regulatory challenges can become even more pronounced....
“Cause you know sometimes words have two meanings” [i]
As the AML community clearly knows, the Federal Financial Examination Council (FFIEC) has been working for quite some time on the updates to the last iteration...
A View to a Kill?[i]
I have said many times that AML professionals in today’s world need to evolve and change with the various ways criminals adjust their actions to fit technology, laws and policies. Part of that...
What a Fool Believes[I]
Until recently, the AML community has seen only two major cases of personal liability. Frankly, many conferences and webinars have downplayed the impact of those rulings on how institutions...
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