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.
Asset Forfeiture Global Expert Stef Cassella returns to AML Conversations to discuss civil and criminal forfeiture. He explains how it's used, common misunderstandings about this law enforcement and prosecutorial tool,...
Trafficking in persons is the second largest black market in the world (the first is the illegal drug trade). It is estimated that human trafficking is more than a $150 billion industry with over 24.9 million victims...
AML RightSource, the leading provider of Anti-Money Laundering (“AML”), Know Your Customer (“KYC”), and Bank Secrecy Act (“BSA”) compliance solutions, has added a new capability to its QuantaVerse Financial Crime...
With scamming on the rise, criminals are always looking for people willing to lend them their bank accounts to receive and withdraw the unlawful cash and these people are called mules or money mules, now you must be...
Our panel of experts discuss how the pandemic has changed KYC processes for the long-term. They look at numerous elements of KYC, including information gathering, identity verification, and site visits.
Kit Conklin, VP at Kharon and a Senior Fellow at the Atlantic Council discusses the recent “joint alert” between the Financial Crimes Enforcement Network (FinCEN) and the U.S. Department of Commerce’s Bureau of...
Our expert panel has a lively conversation about creating and maintaining an effective KYC program. They discuss current best practices, future challenges, including peer-to-peer payments, DeFi, and solutions to augment...
John discusses with Kent Belasco, the Director of Marquette University’s Commercial Banking Program, a recent project with a microfinance organization to assist an impoverished rural farming community outside Panama...
Elder Financial Exploitation (EFE) is a global problem and is on the rise. One of several forms of elder abuse, this type includes theft, fraud, and exploiting the financial resources of older adults. The bad actors in...
Alan Ketley, the new Executive Secretary of the Wolfsberg Group discusses the mission of the group, their focus on a variety of AML related topics: correspondent banking, PEPs, trade finance and recent papers covering...
Our expert panel discusses the best practices in customer risk rating.
Rob Triano of CipherTrace discusses his career move from traditional banking to the Federal Reserve to CipherTrace and addressing the unique challenges of the crypto world. Advising clients with cybersecurity, money...
After two years of discussion and negotiation, the European Parliament and the European Council reached a provisional agreement on the Markets in Crypto-Assets (MiCA), a framework of regulations for digital asset...
Our expert panel discusses the key factors that they see being used in CRR models throughout the industry.
This is the second part of a two-part series on what money laundering is and some of the ways it is done.
Our expert panel discusses the details of the Countering America's Adversaries Through Sanctions Act and how it impacts current US Russia sanctions.
AML case investigations traditionally center on the focal entity and their most active counterparties. However, limiting the circle of inquiry investigators may miss suspicious counterparty clues and any related risks,...
We discuss best practices for customer risk rating (CRR) and ongoing review. Even with purpose built CRR tools, the process can be daunting and requires constant care. We consider the factors that should be included in...
Tom Vartanian, the Executive Director of the Financial Technology & Cybersecurity Center discussed the ongoing problems with cybersecurity, cryptocurrency and current regulations and recommendations regarding how to...
This is the first part of a two-part series on the what money laundering is and some of the ways it is done.
Our expert panel discusses the details of the first of the US Russia sanctions programs which introduced the concept of sectoral sanctions; initiated in in 2014, these sanctions remain in place today and should be a...
John interviewed Michael Lee, IRSCI Supervisory Special Agent, Western Cyber Crime Unit, on crypto, NFTs and Decentralized Finance.
Financial institutions and banks need to be aware of all degrees of risk that their clients may bring, ranging from a third party with a damaged reputation, to one involved in organized crime. This means conducting...
Russia, Real Estate and Other Things*
U.S. Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) have introduced the Responsible Financial Innovation Act (also being referred to as “Lummis-Gillibrand”). The goal of the proposal is to create...