AML Voices: KYC – Determining Beneficial Ownership
Our panel of experts discuss the challenges to determining beneficial ownership in the KYC process. They look at how the 1st and 2nd lines of defense need to work together to reach reasonable conclusion in this difficult area.
AML Conversations: A discussion with Guy Ficco, the newly appointed Deputy Chief of IRS-CI
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 importance of private-public partnership, and the facts about new IRS resources.
AML Conversations: A Discussion With John M. Geiringer About His Newly Published Book
John Byrne chats with John M. Geiringer, of Barack Ferrazzano Financial Institutions Group, about the new book he edited and co-authored, Countering the Financing of Terrorism: Law and Policy, by the American Bar Association. Save 20% on Countering the Financing of Terrorism: Law and Policy (americanbar.org) To order, click on the link and enter the discount code: CFTLP20 at checkout to save. Discount ends December 31, 2022
AML Voices: The Coming US Beneficial Ownership Registry
A key provision of the US Anti-Money Laundering Act of 2020 requires deploying a beneficial ownership registry. Our panel of experts discuss what the registry may look like, what challenges are faced in building an effective registry, and who will have access to it.
What are the best practices for integrating AI into your AML compliance program?
To take your AML compliance program to new heights of effectiveness, introducing an artificial intelligence (AI) technology could be the right decision. Certain features like automation and rules-based algorithms provide unmatched benefits including fewer false positives, streamlined investigations and overall, a risk-based approach to financial crime compliance.
How to deal with AML compliance disruptions
Anti-money laundering compliance teams need to have several traits to help keep them at their best, these include resilience and adaptability. As an industry, we need to be aware of all challenges, both new and commonplace. Often, this requires the combination of team training and sophisticated technology.
Financial Crime Compliance Experts Discuss Top AML Tech Trends and Related Process Improvements
At the Financial & International Business Association (FIBA) AML Compliance Conference, David McLaughlin, SVP, Head of Technology Integration at AML RightSource, was joined by a knowledgeable panel of experts including the head of AML modeling and analytics at PNC. The panel discussed technology trends and how they are impacting processes for the teams who have adopted them.
FATF’s View of the Risks of Real Estate
The Financial Action Task Force (FATF[1]) recently updated its Risk-Based Approach Guidance for the Real Estate Sector. This update was prompted by increasing risks of money laundering and terrorist financing (ML/TF) using real estate transactions. The guidance “provides real estate professionals involved in real estate transactions, with the requisite tools and examples to support the implementation of FATF standards enabling the implementation of a risk-based approach to anti-money laundering and countering the financing of terrorism.”
AML Conversations: Ramifications of the Public Attacks on the FBI by Elected Officials
Dennis Lormel, President of the Society of Former Agents of the FBI, discusses the ramifications of the public attacks on the FBI by elected officials in response to the search warrant issued to retrieve classified documents held by former President Trump. Lormel explains the legal process and the need for the AML community to continue supporting law enforcement from clear political attacks.
