Moody’s Talks: Risk Reframed

Crypto may provide bad actors with yet another channel to launder funds, but could it also provide a unique set of opportunities for KYC and AML professionals to revolutionize their practices and manage risks in new ways? The third and final installment of our Crypto Series welcomes Niels Pedersen, Senior Lecturer of FinTech at The Manchester Metropolitan University, and Laurence Twelvetrees, a multiple time MLRO at crypto-focused businesses.

Key discussion points in this episode include:

• Individual privacy verses blockchain transparency
• Global financial inclusion
• Decentralized finance

To learn more about the resources shared in this episode, please check out the following:

• Thinking in Systems: A Primer by Donella H. Meadows
• CoinMarketCap
• Elliptic
• Financial Technologies: Case Studies in FinTech Innovation by Niels Pedersen

To find out how Moody’s Analytics KYC solutions can help your organization harness the power of crypto with confidence, please get in touch.

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Outsmarting criminals preying in the crypto space - no one said it was easy. How can KYC and AML systems work with law enforcement to tackle these opponents? Our crypto series continues with part two taking a deep dive into risk mitigation and law enforcement focused on crypto. In this episode, host Alex Pillow is joined by Craig Gleeson, Senior Office for the Crypto assets Money Laundering, Bribery & Corruption Threat Team for the UK’s National Economic Crime Centre in the NCA, and Tom Robinson, co-founder and Chief Scientist at blockchain analytics company, Elliptic.

For further reading, check out the resources below:

• Wired Article
• FCA website
• National Strategic Assessment of Serious and Organised Crime
• Eliptic.co

To find out how Moody’s Analytics KYC solutions can help your organization harness the power of crypto with confidence, please get in touch.

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Like it or not, some of your global customers are likely to be engaging with cryptocurrency. Flashy media headlines highlighting the scandals related to the crypto space often create feelings of fear, anxiety, and confusion, which can muddle our understanding of the real risks associated with crypto. In the first episode of our 3-part cryptocurrency series, special guests Yana Afanasieva, Founder & CEO of Competitive Compliance and host of the podcast Compliance that Makes Sense, and Pierce Kearns, Financial Crime Consultant and cryptocurrency enthusiast, provide their takes on the perceived versus real risks related to crypto as well as the responsibility KYC professionals have to understand them.

For more cryptocurrency learning, here is a great resource:

• Free compliance downloads and templates

To distinguish digital asset opportunities from cryptocurrency risks in your compliance practices, please get in touch.

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How do Financial Institutions determine the right RegTech vendors for them? And how do RegTech providers establish a reputation that is built on trust?

The RegTech industry poses unique challenges for buyers and sellers alike. In this special bonus episode, host Alex Pillow and guest Matt Neill, Managing Director and Co-founder of Beyond, take a closer look at Beyond’s recently published guide, Leveraging RegTech in Financial Crime Compliance Programmes.

This thought-provoking conversation weaves through the processes and systems needed by both vendors and Financial Institutions to yield successful outcomes.

Download the report, and get in touch to find out how Moody’s Analytics KYC can support your institution’s RegTech requirements.

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In a world where computer hacking has become increasingly more sophisticated, how does an organization ensure it does not find itself the next victim of a financial cybercrime attack? In this episode of Moody’s Talks: KYC Decoded, leading investigative journalist and author of the recently published book The Lazarus Heist, Geoff White, breaks down the events of the 2016 Bangladesh bank heist, commonly attributed to North Korea’s cyber unit, the Lazarus Group. Listen along for a riveting account of money laundering fueled by cybercrime, the devastating consequences such crimes can bring about for victims, and the systems and controls needed to combat it. 

For additional resources, make sure to check out:

• The Lazarus Hei$t BBC podcast series
• Geoff White’s 2020 book, Crime Dot Com: From Viruses to Vote Rigging, How Hacking Went Global
• Countdown to Zero Day: Stuxnet and the Launch of the World’s First Digital Weapon by Kim Zetter

To learn how to prevent financial crime in your organization, please visit kyc.moodys.io.

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Could crypto actually be enabling sanctions evasion, or is this just grabbing headlines?

In the final discussion of our Sanctions Miniseries, David Carlisle, VP of Policy and Regulatory affairs at blockchain and analytics company Elliptic, weighs up the validity of this question.

Learn more about how you can adapt to an evolving sanctions environment by visiting our website. 

And visit Elliptic’s website for more sanctions evasion resources:

• Guide to sanctions compliance in cryptocurrencies
• Preventing Financial Crime in Cryptoassets: Typologies Report 2022

Reach out to us via [email protected] to share feedback and ideas for new Moody’s Talks: KYC Decoded episodes.

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You may have looked data up and down and back again, but have you looked at it sideways?

In Part 3 of our Sanctions Miniseries, host Alex Pillow is joined by KYC expert, Graham Barrow, host of The Dark Money Files podcast. Their discussion sheds light on the networks of those who are sanctioned and the risk indicators to look for.

Find out more about how you can adapt to an evolving sanctions environment by visiting  our website.

Reach out to us via [email protected] to share feedback and ideas for new Moody’s Talks: KYC Decoded episodes.

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In Part 2 of our Sanctions Miniseries, Andréas Hobbelin, Head of Anti-Money Laundering & Financial Crime Prevention at ZTL Payment Solutions, guides us beyond sanctions lists by sharing the importance of ownership and control in relation to sanctions. Without complete and accurate data, subsidiary networks are more difficult to detect, and mistakes become more likely for vendors and practitioners.

This conversation highlights ways organizations can take a proactive approach to mitigating sanctions risk.

Learn more about how you can go beyond the lists and adapt to an evolving sanctions environment by visiting our website and reading our related whitepaper.

Reach out to us via [email protected] to share feedback and ideas for new Moody’s Talks: KYC Decoded episodes.

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Russia’s invasion of Ukraine has had a profound impact on the compliance, KYC, and supply chain industries as governments around the world have issued sanctions at a rapid pace.

In this first installment of our Sanctions Miniseries, host Alex Pillow provides an overview of sanctions, the subsequent responsibilities organizations have for staying compliant – and the consequences for not.

Find out how to adapt to an evolving sanctions environment by visiting our website.

Reach out to us via [email protected] to share feedback and ideas for new Moody’s Talks: KYC Decoded episodes.

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Attitudes towards AI in the KYC and AML space are often riddled with disillusionment. It begs the question, are there ways to unlock the potential of AI technologies in a more productive way when combatting financial crime? 

Host Alex Pillow delves into this topic with guests Janet Bastiman, Chief Data Scientist at Napier AI, and James Nurse, Managing Director at FINTRAIL.

Check out these resources to learn more:

• AI path design: the future of AML & how to prepare for it webinar
• The optimal path to AI implementation for financial crime compliance e-book
• Building trust and confidence in AI blog
• Opportunities and challenges of new technologies for AML/CFT
• Artificial intelligence public-private forum
• AI public-private forum final report

Do you have feedback or ideas for new Moody's Talks: KYC Decoded episodes? Please get in touch via  [email protected].

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