AML Conversations

This week, John and Elliot discuss the recent report on Forced Labor in the Global Supply Chain, the 2024 Annual Report from IRS:CI, several actions taken by the US Treasury, OFAC, and FinCEN, an interesting blog about how to tackle the growing impact of fraud, and other items impacting the financial crime prevention community.

This week, John and Elliot discuss the Federal Court decision enjoining the Corporate Transparency Act, the latest Basel AML Index, the Human Security Collective's recent sanctions mapping study, various actions by the US Treasury, remarks by the UK’s new head of cybersecurity, and other items impacting the financial crime prevention community.

This episode originally aired on August 30, 2024

This week, John and Elliot discuss FinCEN’s new final rules for reporting on residential real estate transactions and the program requirement for investment advisors. They also look at HSI’s Project Red Hook, its efforts to stem gift card fraud schemes, and a report from the University of Sussex, which rates the US as the preferred hub for corrupt financial transactions.

This week, John and Elliot discuss actions by the US Treasury against Hamas and fentanyl traffickers, new regulations from CFIUS to enhance enforcement of limitations on foreign investment in the US to protect national security, new guidelines from the European Banking Authority to streamline and standardize AML rules, observance of International Fraud Awareness Week, and several other items impacting the financial crime prevention community.

This week, John and Elliot discuss comments by the AUSTRAC CEO, FinCEN’s proposed real estate reporting form, a new UN report on trends in financing terrorist fighter’s activities, a new Commerce Department report on investigations of export control and anti-boycott violations, the arrest of the Spanish Police AML Chief on corruption charges, and several other items impacting the financial crime prevention community.

This week, John and Elliot discuss the regulatory action in the UK to require sellers of art to verify the identity of buyers and their source of funds, the action by Companies House requiring the collection and retention of corporate director identity data, several prosecutions under the Export Control Reform Act, a request from the Canadian Bankers Association to reduce the number of STRs required to be filed, and several other items impacting the financial crime prevention community.

This week, John and Elliot discuss the outcomes of the October FATF Plenary, a recent investigative report about former government officials giving advice on sanctions compliance, the US Treasury’s National Strategy on Financial Inclusion, FINTRAC’s recent bulletin on the risks of Canadian lawyers not having to comply with AML rules, and several other items impacting the financial crime prevention community.

Mark Freedman of Rebel Global Security returns to AML Conversations and discusses a new era of Great Power Competition (GPC) between the United States, China, and Russia, which now dominates international politics - and its security impacts on the private sector. He points out that nation-state cyber-attacks on privately owned critical infrastructure, foreign espionage to steal intellectual property, and malign foreign investments are just a few of the tactics shaping the 21st-century battlefield. Mark offers specific suggestions on Enterprise Security Risk Management to combat these threats.

This week, John and Elliot discuss remarks by the US Attorney for Puerto Rico, the UK’s FCA’s warning to “finfluencers” about not promoting scams on social media platforms, the OCC’s action against Axiom Bank for AML program problems, an interview with the new FATF president, and several other items impacting the financial crime prevention community.

Doug Gilmer finished his lengthy law enforcement career at the Center for Countering Human Trafficking as the Senior Law Enforcement Liaison. He now runs Resolved Strategies, a global justice solutions group. Doug talked to us about the various challenges among all stakeholders to combat human and labor trafficking.