AML Conversations

This week, several interesting reports were released. Eurasia Group issued its Top Risks 2024, Human Security Collective published The Future of FATF Recommendation 8, FinCEN issued a Financial Trend Analysis and much more. John and Elliot discuss these and their meaning for the financial crime compliance community.

This week, the US Beneficial Ownership Registry went live, Senator Menendez was charged with additional allegations, export enforcement is back in the news, the US Department of Justice received new authority in foreign bribery cases and much more. John and Elliot discuss these and their meaning for the financial crime compliance community.

This episode originally aired on September 22, 2023

The Financial Crimes Enforcement Network (FinCEN) has published a Small Entity Compliance Guide for beneficial ownership information. A set of FAQs accompanies the guide. John and Elliot discuss the guide, the current compliance deadlines announced by FinCEN, and their thoughts on what may change shortly. They also chatted about a recent consent order between FinCEN and an international banking entity in Puerto Rico.

This week, an advisory on spear-phishing was issued, the US Department of Justice brought indictments for an $80 million pig butchering scheme, and several other interesting things surfaced. John and Elliot discuss these and their meaning for the financial crime compliance community.

This week, the US Treasury issued a Fact Sheet on its action to disrupt corruption, FINTRAC levied fines against another bank for AML/CFT program violations, The US House passed changes to the beneficial ownership registry rules, and several other interesting things surfaced. John and Elliot discuss these and their meaning for the financial crime compliance community.

Concluding our four-part series on Artificial Intelligence (AI), David McLaughlin, Founder of QuantaVerse and the current EVP of Technology Sales at AML RightSource, alongside our brilliant Principal Data Scientist, Leandro Loss, discuss how AI solutions are crafted and how their extraordinary capabilities are reshaping compliance; now, and in the future.

Tune in to find out more about how this powerful technology can be our ally in the battle against financial crime.

We talk with Mark Freedman, an international security expert who covers how to react to terrorism by Hamas and other criminal organizations and how geopolitics and intelligence gathering assist corporations in addressing risk.

We talk to Oliver Wyman and Atlantic Council’s Dan Tannebaum about the state of sanctions, their value as a national security tool, recommendations on detecting sanctions evasions, and what to expect going forward.

It has been another busy week. The Center for International Private Enterprise issued a report on the importance of business integrity to the rebuilding efforts in Ukraine. The IRS issued an alert on charity scams. The US Treasury was urged to push the IMF to increase enforcement of its 2018 Governance Framework, and FinCEN issued a statement about the Counter Terrorism Financing Taskforce. John and Elliot discuss these communications and their meaning for the financial crime compliance community.

What can we learn?

In an exclusive interview with the Project Manager of the Basel AML Index, John sits down with Kateryna Boguslavska, who has overseen the Index since 2017, and covers the key themes and takeaways for the global AML community.