Secondary and Sectoral Sanctions: A Transformation in the Application of US Economic Sanctions

By Tim White | December 31, 2020
The economic sanctions administered and enforced by the US. Department of the Treasury’s Office of Foreign Assets Control (OFAC) are key foreign policy tools of the United States. OFAC sanctions draw their strength and extensive global influence from the US Dollar being the dominant currency in the cross-border world economy. The force and authority of US economic sanctions are frequently misinterpreted as the US exercising extraterritorial law. This is not the case.

Planning for a New AML/Anti-Fraud/Sanctions Automation System

By Tim White | June 17, 2020
This post is the next installment in Tim White's discussion about managing the migration from one AML transaction monitoring system to another.  The first installment focused on the process of selecting a system, and avoiding vendor "pinch".

Avoiding “Vendor Pinch” when migrating to a new AML/Anti-Fraud/Sanctions Automation System

By Tim White | March 27, 2020
Regardless of the reason for migrating to a new Anti-Money Laundering Automation System, (System) the conversion process will likely be; costly, complex, challenging, and unfortunately protracted. Here are some things to consider as you begin considering a change.

The recent evolution of Cuban Sanctions

By Tim White | December 4, 2019
The changes bring us back to the Embargo’s early days! OFAC officers and compliance professionals are constantly challenged with understanding the many different sanction regimes enforced by the Office of Foreign Assets Control.  Of these many sanction regimes, Cuba is the only one with some of its sanctions under the authorities of the TWEA (Trading with the Enemy Act). 

Data Integrity (Model Validation)

By Tim White | July 25, 2019
It’s all about the data Over the last 15 to 20 years, automated transaction monitoring systems have progressed from the realm of the megabanks, to AML monitoring systems at all but the smallest institutions. They are a key resource for your institution’s AML/Anti-Fraud/Sanctions compliance program.  As these systems have progressed, improved and become more commonplace, one element has remained unchanged; the key to their effectiveness is the quality and the completeness of the data they receive and the utilization of this data by the monitoring system. In making this analysis, start by looking at what information your AML system can utilize to maximize its detection and reporting capabilities; it’s all about the data.

Why I Joined the AML RightSource Team

By Tim White | May 14, 2019
Over the last 35 years, I have primarily been in the business of providing data and technology solutions to a wide range of financial institutions. It has been a rewarding journey to be able to assist countless financial institutions with information and cutting edge technologies to improve operational and AML and Sanctions compliance efficiencies.  However, as with most things in life, it’s always execution that makes the difference.  Technology and information are only as effective as the quality of the human capital putting it to use.
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AML Conversations

Former FBI Supervisory Special Agent on the International Corruption Unit Debra LaPrevotte discusses her career work investigating global corruption...

Kateryna Boguslavska, PhD, Project Manager Basel AML Index at the Basel Institute on Governance, discusses the 2022 AML Index and some examples of...

AMLRS Advisory Board Member Nicolas Choules-Burbidge, formerly a senior executive at the Office of the Superintendent of Financial Institutions...

Jeff Pearlman, NY Times Best Selling Author of nine books and author of a new book, “The Last Folk Hero” about Bo Jackson, discusses the recent fraud...

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...

Press

CLEVELAND (October 26, 2022) – AML RightSource (“AMLRS”), the leading provider of Anti-Money Laundering (“AML”), Know Your Customer (“KYC”), and Bank...

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...