AML best practices that will help you sleep better at night

By Edward Ellis | December 6, 2018

Since the horrific attacks of 9/11, and the congressional response of the USA PATRIOT Act, financial institutions have been occupied with the increasing focus on anti-money laundering (AML) compliance. This is, of course, not surprising.  The money laundering problem has grown to an estimated size of $2 trillion in ill-gotten funds. The financial sector has certainly embraced their role in preventing and detecting this vast array of crimes but the challenges of resources, training, and…

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December Employee Spotlight: Alex Nash

By AML RightSource | December 5, 2018

AML RightSource December Employee Spotlight: meet Alex Nash! Ms. Nash is a Manager in the AML RightSource Cleveland office. She has several years of anti-money laundering experience and is a Certified Anti-Money Laundering Specialist (CAMS). Prior to joining AML Rightsource, Ms. Nash worked in the non-profit sector. Ms. Nash joined AML RightSource in November 2015. Since joining the company, Ms. Nash has contributed to a wide range of AML/BSA client projects. Her experience includes transaction…

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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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Iran Ban Plan

By Paul Petrick | November 20, 2018

Iran Ban Plan Falling temperatures in the Northern Hemisphere have not cooled tensions between the United States of America and the Islamic Republic of Iran.  As of November 5th, all Treasury Department sanctions previously suspended by the Joint Comprehensive Plan of Action (“JCPOA”), a multi-lateral accord on Iranian nuclear proliferation established in July 2015, have been fully re-imposed following the expiration of a 180-day “wind down” period triggered by the United States’ withdrawal from 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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November Employee Spotlight: Kyle Roddy

By AML RightSource | November 1, 2018

AML RightSource November Employee Spotlight: meet Kyle Roddy! Mr. Roddy is a Manager in our Phoenix office with over three years of anti-money laundering experience. He is an active member of the AML RightSource SAR Committee and a Certified Anti-Money Laundering Specialist (CAMS). Mr. Roddy has participated in various industry conferences and events, including the 2018 ACAMS Las Vegas conference. Mr. Roddy joined AML RightSource in 2015. Since joining the company, Mr. Roddy has contributed…

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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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Compliance From the Start(up)

By Tim Murphy | October 19, 2018

Compliance From the Start(up) At least two or three times a year you are hooked on a featured profile piece from a business magazine or Sunday newspaper about a hot new startup and its radical leadership team, right? You know the piece. No one saw Startup X coming and now X is about to set our tired institutions ablaze and build on the ashes something that forever changes the way we live. And, they’re just…

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October Employee Spotlight: Matt Musso

By AML RightSource | October 1, 2018

AML RightSource October Employee Spotlight: meet Matt Musso! Mr. Musso is a Manager in our Cleveland office with multiple years of experience in the anti-money laundering industry. Mr. Musso is a Certified Anti-Money Laundering Specialist (CAMS). Mr. Musso joined the company in 2015. Since joining the company, Mr. Musso has contributed to a variety AML/BSA client projects. His experience includes transaction monitoring, AML investigations, fraud investigations, extensive quality assurance, training, project management, and reporting. He…

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AML compliance best practices: stress less, sleep more.

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