Are All Charities High Risk Customers?
Are all charities high risk customers? This is an important question when thinking about de-risking and access to financial services.
Assisting NPO’s and Their Need for Financial Access
Finally, “Work to Do”[i] Having spent a good deal of my career dealing with legislation, regulations, guidance and assorted policy statements, it never ceases to amaze me how long some things take from start to finish. Of course, I have seen money laundering related legislation virtually every two years from 1986-96 and the three weeks it took to pass the USA PATRIOT Act in 2001, but other issues are not done so swiftly.
Comments to September ANPRM by FinCEN
As a contributing member of the Financial Crimes space, AML RightSource has formally submitted the comments (below) to the September ANPRM by FinCEN. After discussions with a number of our clients and other members of the AML community, we are hopeful that the themes in our letter will be useful to this important process of addressing the flaws and the need for improvement in the AML infrastructure.
AML RightSource Announces Appointment of Don Fort to Advisory Board
AML RightSource is pleased to announce the appointment of John D. (Don) Fort to the company’s Advisory Board. Mr. Fort is the former Chief of the Internal Revenue Service's Criminal Investigation (CI) Division and is now the Director of Investigations at Kostelanetz & Fink, LLP. In this role, he assists clients facing governmental investigations involving all manner of alleged financial and economic crimes, including tax controversies or suspected tax crimes, money laundering, and Bank Secrecy Act violations. Mr. Fort also is involved in conducting internal investigations and advising clients on compliance regimes.
Fraud: In Stock for the Holidays
Every year, fraud on consumers, sellers, and financial service providers increases during the holiday shopping season. This year, pandemic conditions have led to the reduction of brick-and-mortar shopping, and is driving more merchants online for the first time. This massive shift to online commerce with the inevitability of holiday fraud, sets the scene for a season that promises to be more challenging than financial crimes space is probably used to seeing.
Financial Crimes Compliance in the FinTech Space
In this episode of AML Conversations, AML RightSource Executive Vice President John Byrne sits down with Melissa Strait, Global Head of Financial Crimes at Stripe, Inc. to discuss the challenges in financial crimes compliance faced by FinTechs. During their chat they explore some of the differences between compliance by traditional financial institutions and financial technology providers based on how products and services are delivered and how each is regulated. John and Melissa also explore her professional journey and identify some ideas for other women in the financial crimes community.
Why is De-risking a Problem?
In this installment of AML Voices, John Byrne, AML RightSource Executive Vice President, Andrea Hall, Policy Counsel at the Charity & Security Network and Rick Small, Executive Vice President, Director Financial Crimes at Truist Bank examine de-risking; they discuss why the process presents significant problems for NGOs and non-profit organizations which collect funds in the US to support their work in conflict zones around the globe.
A Conversation with Don Fort
In this episode of AML Conversations, John Byrne, Executive VP at AML RightSource sits down with Don Fort, recently retired Chief of the Internal Revenue Service Criminal Investigation division. John and Don discuss his nearly 30-year career and: how tax enforcement has changed, how trends in criminal activity have changed, and how IRS-CI has responded to these changes.
