The June FATF Plenary Outcomes

By John Byrne | June 23, 2022
Russia, Real Estate and Other Things*

The 2022 NMLRA: The Pandemic, Opioids, and Other “Changes” Continue to Challenge our Communities

By John Byrne | March 9, 2022
There is an old idiom, attributed to the British that “March comes in like a lion and goes out like a lamb.” For the financial crime prevention community in the US, that probably won’t be accurate since we expect a whole host of studies, reports, and regulations throughout 2022. However, on March 1st, the Department of Treasury issued National Risk Assessments on money laundering, terrorist financing and proliferation financing. As there is quite a bit to unpack in all three, we will only focus here on the money laundering assessment or NMLRA.

The Art World Gets a Respite for Now, but “You Ain’t Goin Nowhere”

By John Byrne | February 7, 2022
“The U.S. government and private sector must work together to bar criminals from exploiting the $28.3 billion American art market—the largest unregulated market in the world—or risk serious consequences for the country’s national security and economic integrity, as well as legitimate collectors, dealers, auction houses, and museums.”

In the Year 2022

By John Byrne | January 3, 2022
What happened in 2021 and what to expect going forward?  

9/11 Created the AML Community We Know Today

By John Byrne | September 6, 2021
The End of the Innocence[1]

When is a Priority an Actual Priority?

By John Byrne | July 6, 2021
Where Do We Go from Here?[i] Building on the various themes and issues addressed the AML Act of 2020, the Treasury Department has now published the mandated AML/CFT priorities included the Bank Secrecy Act (BSA) as amended by the new law. While the AML community has long looked to law enforcement, the federal banking agencies and related government entities for advice and counsel on the key financial crime challenges, there has been no central repository for the community to access. That changes with this announcement, which FinCEN stated will be updated every four years, as required by the law.

Get Together: Partnering and Collaboration is a Model for Anti-HT Success*

By John Byrne | June 1, 2021
We in the financial crime prevention community are still assessing how the new Administration will address white collar crime and accompanying regulatory oversight. With the recent announcements about a new focus on tax evasion and enhanced reporting requirements for newer payment products such as virtual currency, it is clear that various forms of compliance and training will be essential and need to be enhanced. Added to these challenges is the wide policy support for private-public partnership and information sharing embedded in the recently enacted Anti-Money Laundering Act of 2020. This leads me to the proposition that no matter what or how much we address at the same time, let’s pause and recognize the ongoing examples of how the financial sector continues to be proactive and encourage those efforts so that their resources continue to be available to combat crimes such as human trafficking.

AML Reform 2021: Now the Real Work Begins

By John Byrne | February 16, 2021
“Something Good This Way Comes”[1] As the new Congress and the Biden Administration continue to grapple with COVID relief, economic uncertainty, national security and all the proverbial “curveballs” facing society; there also remains oversight and implementation of a wide array of provisions from the Anti-Money Laundering Act of 2020. Our AML community knows that this legislation is clearly the broadest, and potentially the most dramatic change to the infrastructure for money laundering, sanctions and financial crime prevention in the United States since the 2001 USA PATRIOT Act. This new law has encourage the creations of a series of studies, strategies, and groups that will demand our continued diligence and participation as relevant stakeholders in every issue and project emanating from this process. There can be an entire chapter on the soon-to-be (after regulations) beneficial ownership reporting requirements and the FinCEN registry, but there are other important areas on which to also focus. Not all parts of the new law will be finalized or even begun in 2021, but here are some of the key sections to watch and weigh in on:

The AML Community List - 2021: What will be Out and In for the Upcoming Year?

By John Byrne | January 7, 2021
I have always enjoyed The Washington Post’s (and I am sure various other publications) list for the next year. The uniqueness is, of course, they eliminate a popular or hot issue with a new one for the next calendar year. To say 2020 was different would be a vast understatement. What was clearly the most chaotic and challenging time for the entire world will, in most cases, sadly stay with us for a long time to come. The following are my (and mine alone) predictions for 2021, which is extremely foolish given what we just went through (and are still dealing with), but limited to AML related issues and themes. As David Letterman would have said, this is only an exhibition, not a competition -- so please, no wagering…

AML Conversations

Jenni Halleran,  the Head of Financial Crimes Investigations at Silicon Valley Bank, discusses her career path, growing up in a blue collar town, and...

Mark Freedman, CEO / Founder of Rebel Global Security and former Chief of Section in the Counter-Terrorism Bureau at the US State Department...

Guy Ficco, Deputy Chief of IRS-Criminal Investigation, joins us to discuss his new role, the vast coverage of financial crime by the IRS, the...

John Byrne chats with John M. Geiringer, of Barack Ferrazzano Financial Institutions Group, about the new book he edited and co-authored, Countering...

Dennis Lormel, President of the Society of Former Agents of the FBI, discusses the ramifications of the public attacks on the FBI by elected...

There have been outrageous comments made by “policymakers” about the IRS since the passage of the Inflation Reduction Act. AMLRS Chairman of the...

Asset Forfeiture Global Expert Stef Cassella returns to AML Conversations to discuss civil and criminal forfeiture. He explains how it's used, common...

Kit Conklin, VP at Kharon and a Senior Fellow at the Atlantic Council discusses the recent “joint alert” between the Financial Crimes Enforcement...

John discusses with Kent Belasco, the Director of Marquette University’s Commercial Banking Program, a recent project with a microfinance...

Alan Ketley, the new Executive Secretary of the Wolfsberg Group discusses the mission of the group, their focus on a variety of AML related topics:...

Press

AML RightSource, the leading provider of Anti-Money Laundering (“AML”), Know Your Customer (“KYC”), and Bank Secrecy Act (“BSA”) compliance...

AML RightSource’s ongoing expansion into the technology arena continues to go from strength-to-strength as they welcome Stern International Bank to...

Please see a statement below from AML RightSource’s CEO and Buffalo local resident Frank Ewing about this weekend’s tragic events (Saturday May 14,...

CLEVELAND – April 13, 2022 — AML RightSource, the leading provider of Anti-Money Laundering (“AML”), Know Your Customer (“KYC”), and Bank Secrecy Act...

AML RightSource, the leading firm focused on fighting financial crime for clients and the world, welcomes Alexandra Lugo as the company’s general...

Initiative to Create 363 Jobs in Buffalo CLEVELAND –- March 21, 2022 — New York Governor Kathy Hochul announced that AML RightSource, the leading...

AML RightSource, the leading firm focused on fighting financial crime for clients and the world, is pleased to announce that Mark Horwood-James has...

CLEVELAND (March 7, 2022) — AML RightSource (“AMLRS”), the leading firm focused on fighting financial crime for clients and the world, is pleased to...

AML RightSource (“AMLRS”), the leading firm focused on fighting financial crime for clients and the world, is pleased to announce that Nicholas...