AML Conversations

In this episode, John Byrne returns from the Missouri Bankers AML Conference to join Elliot Berman for a wide-ranging discussion on the latest developments in financial crime compliance. Topics include FinCEN’s proposed delay of investment advisor AML rules, the GENIUS Act’s digital asset regulation, and the Bank of Canada’s call for stablecoin oversight. The hosts also explore OFAC’s controversial sanctions decisions, the EU’s 19th sanctions package against Russia, DFS guidance on blockchain analytics, and FATF’s mutual evaluation training. Plus, a look at corruption investigations and Antifa’s domestic terrorism designation.

In this episode of This Week in AML, Elliot Berman and Joe McNamara cover a wide range of global financial crime compliance updates. Topics include the U.S. Treasury’s initiative to simplify SAR filings, BIS entity list implications, FINTRAC’s new ID verification rules for Canadian real estate, and Russia’s barter-based sanctions evasion. The hosts also discuss crypto regulation developments in the UK and Malta, Swiss AML reforms, underground banking trends, and AUSTRAC’s efforts to combat child exploitation.

In this week’s episode of This Week in AML, Elliot Berman and John Byrne unpack the latest regulatory developments. They begin with FinCEN Director Andrea Gacki’s recent testimony before the House Financial Services Committee, highlighting key takeaways on beneficial ownership data, SAR/CTR streamlining, and real estate’s role in money laundering. The conversation then shifts to new FinCEN guidance on geographically targeted MSB reporting and financially motivated sextortion.

John and Elliot also dive into the OCC’s controversial statements on SARs and debanking. On the international front, they explore new Wolfsberg Group guidance on stablecoin issuers, FATF’s collaboration with Interpol, and Transparency International UK’s push for beneficial ownership transparency in offshore financial centers.

In this episode of AML Conversations, John Byrne speaks with Ashleigh Subramanian-Montgomery, Acting Director of the Charity & Security Network, about the complex intersection of counterterrorism policy, financial regulation, and humanitarian work. They explore the implications of recent sanctions changes in Syria, the unintended consequences of FATF Recommendation 8, and the challenges posed by de-risking and debanking practices. Ashleigh shares insights on the gendered and societal impacts of sanctions, the limitations of FATF’s new reporting mechanism, and the devastating effects of foreign aid cuts. The conversation closes with a hopeful look at cross-sector collaboration and donor engagement in support of civil society.

In this week’s episode of This Week in AML, Elliot Berman and John Byrne cover a wide range of breaking developments in the financial crime compliance space. From congressional scrutiny of Jeffrey Epstein’s financial records and FinCEN’s website overhaul to the DOJ’s seizure of fraudulent ID marketplaces, the conversation highlights the growing intersection of policy, enforcement, and technology.

They also explore FATF’s new National Risk Assessment Toolkit, the UK’s sharp rise in fraud prosecutions, and the landmark “Failure to Prevent Fraud” offense now in effect. Plus, updates on FINTRAC’s enforcement actions in Canada, and FinCEN’s advisory on Chinese money laundering networks.

In this episode of AML Conversations, John Byrne sits down with Lisa Arquette, recently retired Deputy Director of Operational Risk at the FDIC, to reflect on her decades-long career in financial regulation. From the oil crisis in Texas to the 2008 financial meltdown and the evolving challenges of AML, sanctions, and fraud, Lisa shares her unique perspective on how banking has transformed—and what lies ahead. The conversation covers the Corporate Transparency Act, reputational risk, humanitarian banking access, and the implications of recent executive orders on fair banking. A must-listen for professionals navigating the intersection of compliance, policy, and innovation.

Elliot Berman and John Byrne return with a global roundup of AML developments. They begin with reflections on the Wolfsberg Group’s latest guidance on suspicious activity monitoring, emphasizing innovation and model validation. The Basel Institute’s working paper on collective anti-corruption action highlights the importance of multi-stakeholder collaboration.

The episode also covers a UK report forecasting a surge in synthetic identity fraud, a Ponzi scheme involving fake AI investment tools, and a comprehensive look at the evolving stablecoin landscape. Canada’s 2025 national risk assessment is discussed, with insights into NPO risks, fraud trends, and the country’s role in global trade.

Additional topics include a local elder fraud case in Wisconsin, a Dutch bank’s challenge to an AI-related AML fine, and upcoming AML webinars and interviews. The hosts close with a tribute to workers ahead of Labor Day and a reminder of the importance of vigilance in financial crime prevention.

In this episode of AML Conversations, John Byrne sits down with Bob Simpson, founder of Daylight AML, to explore the often-overlooked world of mortgage fraud and its intersection with anti-money laundering (AML) efforts. Simpson shares insights from decades of investigative experience, highlighting typologies such as occupancy misrepresentation, cash purchases, and property flipping as vehicles for laundering illicit funds. The discussion also covers the impact of recent regulatory changes, including the rollback of beneficial ownership requirements under the Corporate Transparency Act, and the implications for financial institutions. Simpson and Byrne also examine the global FATF evaluation process, the risks of gray listing, and the transformative role of AI in fraud detection and compliance.

In this episode of This Week in AML, Elliot Berman and John Byrne cover a wide range of pressing global and domestic issues shaping the financial crime prevention landscape. From the humanitarian toll of economic sanctions and corruption risks in Ukraine’s reconstruction, to Australia’s cybercrime trends and the evolving U.S. stablecoin regulatory framework, the conversation dives deep into the intersection of policy, technology, and ethics. They also discuss the controversial “debanking” executive order, the phasing out of federal paper checks, and the disturbing rise of sextortion scams linked to Southeast Asian fraud compounds.

In this episode, John Byrne and Elliot Berman unpack a series of significant developments in banking, compliance, and enforcement.

They begin with the White House’s new executive order on “Guaranteeing Fair Banking for All Americans,” which aims to prevent what some call “debanking.” While positioned as a fairness measure, John and Elliot warn that it could weaken banks’ ability to make independent, risk-based decisions, potentially increasing white-collar crime exposure. They note concerns over the subjective nature of risk scoring and parallels to the 2008–2010 financial crisis.

Next, they spotlight the IRS-CI “CI-FIRST” program, a collaborative effort between financial institutions and the IRS’s Criminal Investigation division to improve information sharing and streamline financial record requests. The recent CI-FIRST Executive Forum in Washington is seen as a model for effective public-private partnerships in combating financial crime.

The discussion then turns to enforcement actions:

Paxos Trust Company will pay $26.5 million to New York regulators for failing to properly vet Binance and for systemic AML program weaknesses, alongside a $22 million investment in compliance upgrades.

The DOJ issued its first corporate FCPA action since resuming enforcement, with Liberty Mutual paying $4.7 million to resolve bribery allegations involving Indian state-owned banks.

Do Kwon, co-founder of Terraform Labs, pled guilty to wire fraud and conspiracy, tied to the $40 billion collapse of Terra USD and Luna, with a $19 million penalty and possible 12-year sentence.

They also cover a Senate minority report critical of the administration’s approach to Russian sanctions, arguing it undermines Ukraine’s leverage and lacks consistent enforcement. The FACT Coalition emphasizes the need for tools like the Corporate Transparency Act to bolster sanctions’ effectiveness.

On the policy front, they discuss delays and staffing cuts affecting the State Department’s annual human rights report and the pending trafficking in persons report—both key references for global human rights and anti-trafficking efforts.