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Power in Numbers — CEO Frank Ewing’s Thoughts on AML/BSA in 2019

By Frank Ewing | January 24, 2019

As I was watching football last weekend, and specifically the New Orleans Saints versus the Los Angeles Rams, I was taken by the impact of the Saint’s crowd. The noise inside the stadium seemed deafening and raucous. The fans were passionate. The home team was energized. And then there were the Rams, visibly shook and committing several penalties and mistakes as a result of the crowd noise. Think about that – a group of well-trained,…

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Chuck Taylor: New Executive VP and Head of Financial Crimes Advisory

By Alex Even | January 22, 2019

AML/BSA Compliance Veteran to Expand Company’s Financial Crimes and Compliance Operations AML RightSource announced today that Chuck Taylor, CAMS, JD, will join the company as Executive VP, Head of Financial Crimes Advisory. Mr. Taylor brings over 20 years of progressive business achievement with a proven track record of success in regulatory compliance, along with exceptional skills in research, risk analysis, and training. He is an expert in Bank Secrecy Act (BSA)/Anti-Money Laundering (AML)/Office of Foreign…

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Maybe there will be a balanced report on the state of money laundering… In the Year 2525*

By John Byrne | January 7, 2019

Every time a report is issued in late December, you have to wonder about impact. Although the advent of active social media makes it more likely that there are no longer “news dumps”, let’s assume the best and review a recent posting of the Treasury Department’s “National Strategy for Combating Terrorist and Other Illicit Financing.” The report is actually four separate documents and I would urge everyone to read all four—mainly because several are clearly…

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An Evaluation of the House Financial Services Committee in 2019

By Tim Murphy | January 2, 2019

With the first meeting of the 116th United States Congress near, by now lawmakers have surely dried off from that November wave. As you’ll recall, cresting that swell was a mix of new and old characters who are currently jostling for various leadership positions as Democrats regain control of the House of Representatives. And, while the shakeout (or shakedown) continues for many coveted positions, leadership of the House Financial Services Committee has never really been…

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January Employee Spotlight: Mark Smalley

By AML RightSource | January 1, 2019

AML RightSource January Employee Spotlight: meet Mark Smalley! Mr. Smalley is a Senior Manager in the AML RightSource Cleveland office with over 25 years of experience in financial institutions, financial services firms, and private law practice. Mark is a Certified Anti-Money Laundering Specialist (CAMS) as well as a licensed attorney within the state of Ohio and various federal courts. His expertise spans across various AML/BSA areas including economic sanctions, Know Your Customer (KYC), Anti-Bribery and…

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The Art of Money Laundering: How to Fight the Perfect Crime

By Edward Ellis | December 26, 2018

Certain works of art are priceless. Literally. They do not have a market-determined value. The cost is whatever an art collector is willing to pay. Price flexibility in the art world is just one of the many advantages for a certain subset of the criminals — money launderers. Other advantages include portability, lack of a paper trail, anonymity, and no regulations. Artwork is lightweight compared to other valuables, like gold and cash. Artwork is bought…

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The 2019 AML List!

By John Byrne | December 18, 2018

As I have done in previous years, will be looking ahead to 2019 and what may be in store for the AML/CTF/Financial Crime Prevention community. With new committee chairs in the US House and several retirements in the Senate, it is a safe bet that any policy debates in our area will be somewhat different than the last two years. If you add on what is likely to be a financial focus on investigations of…

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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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Will the House finally pass regulations to accomplish the goals of the Bank Secrecy Act this year? hubs.ly/H0hY6Wh0

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