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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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Triangle Fraud: A Crime with Triple the Number of Victims

By Diane Dylinski | December 11, 2019

Triangle fraud involves a unique twist on the sale of stolen goods. This fraud gets its name from the crime resulting in three different parties falling victims to the scheme: a cardholder, a merchant, and a buyer. The maneuver is made deliberately complex to obscure the criminal’s identity and make it difficult to follow the flow of funds. To understand why triangle fraud exists, one must think like a criminal. Tangible goods purchased online must…

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AML Conversations: Paul Camacho – National Museum of Organized Crime & Law Enforcement

By AML RightSource | December 10, 2019

Paul Camacho had a very distinguished career as an IRS CI agent and is now the VP of AML compliance for Stations Casinos. In addition, Paul has also written extensively on the history of the IRS and the Treasury Department. AML RightSource Vice Chairman, John Byrne was able to catch up with Paul on the exhibit floor during the ACAMS 18th Annual Financial Crime and Compliance conference in Las Vegas, NV to discuss his commitment…

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The recent evolution of Cuban Sanctions

By Tim White | December 4, 2019

The changes bring us back to the Embargo’s early days! OFAC officers and compliance professionals are constantly challenged with understanding the many different sanction regimes enforced by the Office of Foreign Assets Control.  Of these many sanction regimes, Cuba is the only one with some of its sanctions under the authorities of the TWEA (Trading with the Enemy Act).  It is not surprising that many of us have difficulty understanding all of the elements of…

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December Employee Spotlight: Nadia Bhatti

By AML RightSource | December 1, 2019

AML RightSource December Employee Spotlight: meet Nadia Bhatti! Nadia Bhatti is a Senior Analyst in the AML RightSource Cleveland office with over two and half years of experience in financial crimes compliance.  Ms. Bhatti joined the company in early 2017 and has contributed to multiple client engagements in numerous capacities including EDD reviews, case investigations, alert triage, fraud typologies, quality control, training, and project management. Ms. Bhatti has also spent time on site with a…

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No Receipt? No Problem. How Fraudsters use Merchandise Returns to Make Millions

By Jessica Mitchell | November 18, 2019

As holiday shopping increases, so do the opportunities for Organized Retail Crime. “Theft from retail establishments has long been a problem,” – according to Rep. Robert C. Scott, (VA), Chairman of the House Subcommittee on Crime, Terrorism, and Homeland Security back in November 2009  – “but the problem gradually grew beyond simple, isolated incidences of shoplifting and burglary into something more complex.” It wasn’t until the 1980’s, he added, “that organized retail crime was recognized…

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Positive impact of artificial intelligence applications in the financial sector proves that AI and ML are more than buzzwords; they're potential new tools to enhance AML compliance efforts. Learn more about this technology in this whitepaper: hubs.ly/H0mDx790

About 11 hours ago from AML RightSource's Twitter via HubSpot

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