FinTechs and Regulatory Compliance

By Amy Petric | February 27, 2020

The entrance of financial technology companies (FinTechs) into the economy and their impact on customer-facing and back-end processes is well documented.  Many of these entities have brought new ways to reduce the drag in existing systems and processes and to increase the speed and through-put of data and transactions. Some FinTechs have existed for many years (such as the major providers of core processing systems to financial institutions) or have grown out of traditional financial…

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AML RightSource Announces Addition of New Office Space to Support Expansion and Growth

By AML RightSource | February 18, 2020

To support company growth, AML RightSource recently designed and opened an office in Highland Hills, OH. The newly renovated 43,602 square foot space encompasses an entire floor and will accommodate more than 250 employees. The updated floor plan provides an environment for collaboration among employees, flexible conference and training space, and secure work spaces to support client outsourced services. The Company now has 7 offices in the United States and Canada.

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AML RightSource Employee Spotlight: Lisa Harvey

By AML RightSource | February 18, 2020

Ms. Harvey is a Senior Analyst in our Phoenix office and has over seven years of experience in financial crime compliance. Through her engagement experience, she has worked on CDD/EDD reviews of high-risk customers, worked with law enforcement while conducting BSA investigations and prepared and submitted suspicious activity reports. In addition to her compliance work history, Ms. Harvey has extensive experience in other areas of engagement with financial institutions including payment processing, investment activity analysis…

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A Crisis that is Anything but Synthetic

By Cory Bretz | January 31, 2020

The Problems Caused by Fentanyl and Other Synthetic Opioids, and What the AML Community Can Do to Help In the early nineteenth century, opium addiction was such a problem in China that the government threatened the death penalty for anyone caught smuggling the drug. The British Empire – which produced vast quantities of opium in their colony India and were hooked on the revenue from Chinese consumers – declared war on China1. After nearly three…

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Confidential means CONFIDENTIAL!

By Elliot Berman | January 16, 2020

This post is part of our occasional series on AML program fundamentals which focuses on refreshing foundational knowledge for experienced members of the AML community and providing an introduction to key topics for those new to the subject. Recently, a former senior FinCEN official pled guilty to “conspiring to unlawfully disclose Suspicious Activity Reports.” The press release from the Department of Justice noted that the official agreed to “repeatedly disclose highly sensitive information contained in…

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AML Conversations: Andy Price – AML Challenges for Credit Unions Worldwide

By AML RightSource | January 15, 2020

In this edition of AML Conversations, John Byrne, Vice Chairman at AML RightSource sits down with Andy Price of World Council of Credit Unions on AML challenges for credit unions worldwide particularly as it applies to financial inclusion. The Council, among other things, supports financial markets in growing economies, along with global partners, such as USAID, the UN, and the World Bank by promoting financial inclusion, strengthening institutions as well as providing policy and regulatory…

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Will 2020 bring true AML Reform?

By John Byrne | January 7, 2020

“For what it’s worth,[1]” corruption is the key. Thirty-four years after the passage of the Money Laundering Control Act of 1986, (the real start of the current AML infrastructure we face today), our community has seen a plethora of laws, regulations, guidance and examiner subjectivity. The result: confusion, unending cost overruns and competing noise on how to fix a truly broken system; not broken because the private sector should not have a law enforcement role…

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January Employee Spotlight: Amy Petric

By AML RightSource | January 1, 2020

AML RightSource January Employee Spotlight: meet Amy Petric! Ms. Petric is a Manager in our Cleveland office and oversees teams of analysts across the Ohio, Phoenix, and Canada offices. Ms. Petric is a Certified Anti-Money Laundering Specialist (CAMS) and a licensed attorney in the state of Ohio. Ms. Petric joined AML RightSource in January 2016 and has contributed to a variety of AML/BSA client engagements. Her experience includes transaction monitoring, case investigations and Suspicious Activity…

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AML Conversations: Steve Cohen – Basis Technology

By AML RightSource | December 19, 2019

In this edition of AML Conversations, Elliot Berman, Marketing Advisor at AML RightSource sits down with Steven Cohen, Executive Vice President, Chief Operating Officer and Co-Founder of Basis Technology. The company is engineering a safer & more productive world by building proven Artificial Intelligence solutions for analyzing text, connecting data silos, and discovering digital evidence. The conversation focuses on how various elements of AI are influencing the effectiveness of transaction monitoring in the financial services…

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Combating Human Trafficking from the Financial Side

By AML RightSource | December 11, 2019

AML RightSource was honored to participate in last month’s celebration of the 10th Anniversary of the award-winning Southern California ACAMS Chapter. More importantly, the event raised money and additional essential awareness of the need for the AML community to continue to combat the horrors of human trafficking. Below is a short recap of the event, as well as an overview of the global issue of human trafficking, and the ways in which we are supporting…

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AML RightSource recently designed and opened a newly renovated 43,600 square foot office in Highland Hills, Ohio to support company growth. Read the press release here:

About 3 hours ago from AML RightSource's Twitter via HubSpot