Finance Leader Mark Schlageter Joins AMLRS Board of Directors
AML RightSource, national leader in anti-money laundering services and premier provider to the financial services sector, celebrates a period of exponential growth with the appointment of Mark A. Schlageter to the organization’s Board of Directors.
March Employee Spotlight: Mici Chase
We are very excited to highlight a staff member each month from our team of superb employees. AML RightSource March Employee Spotlight: meet Mici Chase from our Financial Crimes Advisory practice! Mici joined AML RightSource in March 2015 and operates out of our Cleveland office. She has worked on a wide variety of projects and is very knowledgeable on BSA/AML regulations and best practices.
John Byrne’s Statement to the House Financial Institutions and Consumer Credit Subcommittee
Download John J. Byrne's Statement Examining De-risking and its Effect on Access to Financial Services
AML Conversations Episode 2: John Byrne on Community Banking and Fintech
Welcome to the second episode of our new podcast series, AML Conversations. AML Conversations is dedicated to inform professionals and those interested in anti-money laundering about conversations happening in the government, private sector, and internationally. We will be posting interviews, live programming, and panel discussions related to the industry throughout the series to keep our listeners well-informed.
In Plain Sight: Illicit Funds Concealed in Artwork
In 2007, US federal investigators found someone attempting to smuggle a painting, titled Hannibal, at New York’s Kennedy Airport. Although the painting by American artist Jean-Michel Basquiat was appraised at $8 million, it was accompanied with a bill of lading listing the value as $100. The painting was part of a 12,000-piece art collection purchased by Brazilian financier Edmar Cid Ferriera using embezzled funds. Similarly, in a high-profile money laundering case that helped finance the movie, “Wolf of Wall Street,” Malaysian Prime Minister, Najib Razak, siphoned part of a $1 billion fortune from the Malaysian sovereign wealth fund into American assets, such as real estate in California and, most notably, works of paintings by Basquiat, Rothko, and Van Gogh. Both Ferreira and Razak gained recognition, not because of the amassed wealth they laundered, nor because they were renowned art enthusiasts, but because of the manner in which it was performed.
February Employee Spotlight: John Wintrow
AML RightSource February Employee Spotlight: Meet John Wintrow from our Financial Crimes Advisory practice! John, commonly regarded as JW by the Financial Crimes Advisory team, joined AML RightSource in 2016 and works in our Phoenix office.
The Financial Risks and Transparency of the Diamond Industry
Where do diamonds come from? Before a diamond is set and sold, it travels through a series of forms, and simultaneously, across the world. Diamonds are mined and initially traded as rough diamonds, then cut and polished to be traded as loose polished diamonds, sold to jewelry manufacturers where they become mounted polished diamonds, enter jewelry retailers, and are ultimately bought by consumers. Diamonds may be mined in Africa, cut and polished in India, traded in Belgium, and sold to consumers in the United States.
