Posts

Tools for Exchanging Value

By Elliot Berman | August 16, 2019

AML Conversations: Dennis Lormel - Dealing with White Supremacists

By AML RightSource | August 8, 2019
Welcome to this episode of our podcast series, AML Conversations. In this episode, AML RightSource Vice Chairman John Byrne interviews Former FBI TFOS Head, Dennis Lormel. With the horrific shootings in Gilroy, El Paso and Dayton, AML Conversations explores how the AML community can further assist law enforcement in dealing with white supremacists.

Can you take “statements” to the bank? Risk-Focused BSA? “Showdown.”*

By John Byrne | August 2, 2019
“Banks that operate in compliance with applicable law, properly manage customer relationships and effectively mitigate risks by implementing controls commensurate with those risks are neither prohibited nor discouraged from providing banking services.” (From the July 22nd Statement)

AML RightSource Names Paul W. Linehan Vice Chairman, and Todd Ayers Chief Financial Officer

By AML RightSource | August 1, 2019
AML RightSource, a leading firm solely focused on Anti-Money Laundering (AML)/Bank Secrecy Act (BSA) and financial crimes compliance solutions, today announced President Paul W. Linehan will assume the role of Vice Chairman effective August 1, 2019. Linehan previously was President and will continue to report to Frank Ewing, CEO, AML RightSource.

August Employee Spotlight: Chelsea Robbins

By AML RightSource | August 1, 2019
We are very excited to highlight a staff member each month from our team of superb employees. AML RightSource August Employee Spotlight: meet Chelsea Robbins! Ms. Robbins is a Management Development Program associate in the AML RightSource Cleveland office with two years of experience in financial crimes consulting. She has worked on various client engagements and has experience in both money laundering and fraud workflows. She has assisted on lookbacks, backlogs, and BAU projects that included alert investigations, cases, SARs, EDDs, and data validation.

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.

A Quick Look at Facebook’s Cryptocurrency Announcement

By Elliot Berman | July 18, 2019
Everybody Needs Money. That’s Why They Call It Money* On June 18th Facebook announced plans to introduce a digital wallet (named Calibra) in 2020 for use with a new digital currency, named Libra.  As part of the announcement, the company issued a white paper from the Libra Association, a non-profit formed to govern the currency.  The association includes a wide variety of entities in the payments, technology, telecommunications, blockchain and venture capital industries.  Notably absent from membership at the time of the announcement were any large financial institutions.

Overcoming common challenges when updating a risk assessment

By Mohamed Aziz | July 12, 2019
This post is part of our occasional series on AML program fundamentals which focuses on refreshing foundational knowledge for experienced members of the AML community and providing an introduction to key topics for those new to the subject. An Enterprise Wide Risk Assessment (“EWRA”) enables Financial Institutions (“FI”) to assess their BSA/AML risk profile, incorporate appropriate risk management processes, and maintain adequate controls to mitigate risk. Moreover, the Federal Financial Institutions Examination Council (“FFIEC”) requires all FIs to maintain an EWRA. Management is responsible for communicating the EWRA to the Board of Directors. The Board, in turn, is required to ensure that the FI has adequate resources both human and technological to address the identified risk areas.

The Cloak of Technology: Rising to the Challenges of Online Banking and E-Commerce

By Diane Dylinski | July 2, 2019
The last two decades have seen a virtual explosion in online financial activity. Widespread adoption of applications (apps) running on smart phones and tablets offer a new level of portability and faster funds transfers. Customers can link bank accounts, credit cards and debit cards to apps to facilitate payments from any location. The inevitable tradeoff for this convenience is that criminals are now hiding behind the cloak of technology in their attempts to quickly move funds and avoid detection. New technology gives rise to concerns regarding customer identity, exploitation of the technology, and a sharp rise in online scams.

AML Conversations

For this episode of our AML Conversations podcast, we sit down with Sara Crowe, the strategic initiatives director at Polaris, a non-profit working...

John Byrne chats with Brian Szady, Founder of a threat mitigation firm Threatminder, on the various cybersecurity issues challenging the AML world,...

John Byrne sits down with Dr. Louise Shelley and Layla Hashemi, the editors of the new book Antiquities Smuggling in the Real and Virtual...

In June 2021, FinCEN issued the first National AML/CFT Policy Priorities for the US. John Byrne sat down with Dan Stipano of Davis Polk & Wardwell...

We sit down with our global sanctions expert Tim White to hear how the financial crime compliance community is impacted following the sanctions...

John Byrne, Chairman of the AML RightSource Advisory Board, sits down with James Lin, the Company’s new Chief Product & Technology Officer. James...

Advisory Board Chair John Byrne sits down with Ken Harvey to discuss his joining the Board. They chat about Ken’s long career in financial service...

John Byrne sits down with Jeffrey Albert of Pryor Cashman LLP and Ari Redbord of TRM Labs to discuss the latest guidance from the Financial Action...

Former FBI TFOS Director Dennis Lormel discusses the ramifications of the January 6th  2021 attacks on the US Capital on society and the AML...

Kit Conklin, Director, Global Client Engagement at kharon.com discusses the importance of understanding and complying with the export control laws,...

Press

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...

Watch this video for more information about the QuantaVerse Platform New capability considers a company’s registration status as an indicator of...

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