Bitcoin/Blockchain Presentation: Avoiding Jumbo Size Problems

By AML RightSource | May 15, 2018
Avoiding Jumbo Size Problems: Bitcoin/Blockchain Presentation Last week, AML RightSource Financial Crimes Advisory Practice Associate, Mici Chase, spoke at the Frantz Ward Labor and Employment Seminar. She co-presented with Keith Ashmus, Partner at Frantz Ward LLP, on the topic of Bitcoin and Blockchain. The presentation discussed what Bitcoin and Blockchain are and how they work, as well as what the future looks like with this new technology. See the gallery below for photos from the event.

May Employee Spotlight: Matt Hanna

By AML RightSource | May 2, 2018
We are very excited to highlight a staff member each month from our team of superb employees. AML RightSource May Employee Spotlight: meet Matt Hanna, Esq., CAMS! Matt is a Manager in our Cleveland office and has been with AML RightSource since July 2015. He has led many staff augmentation projects, is part of the company's SAR Committee, and is interested in the regulation of Money Service Businesses.

Crossing the Border: How to Evaluate Countries’ AML Risk

By Samantha Mucha | May 1, 2018
Financial Institutions (“FIs”) are required to take a risk-based approach in their BSA/AML compliance programs. The risk-based approach provides FIs with a large degree of flexibility in determining their risk thresholds for certain types of customers and transactions. FIs are also required to document their approach by developing a Customer Risk Rating (“CRR”) methodology. International transactions carry different amounts of risk, depending on the jurisdiction. In order to evaluate the risks associated with connections to these jurisdictions, FIs should establish a country risk rating methodology to identify higher risk countries.

Prescriptions for Creating a More Robust AML Program

By Mohammad Faraj | April 18, 2018
In today’s regulatory enforcement environment, staying ahead of the trends in BSA/AML compliance is critical. The stakes in minimizing risk have never been higher, compelling managers to focus on the promotion of healthy and responsible institutional practices within their financial institutions (“FIs”). A strong AML program operates in the background when things are going smoothly. However, when things go wrong, the consequences are usually severe and the weaknesses come to the forefront. FIs and nonbank financial institutions (“NBFIs”), such as Money Services Businesses (“MSBs”), would be well advised to take necessary steps to avoid regulatory penalties and enforcement actions.

April Employee Spotlight: Amber Schydzik

By AML RightSource | April 13, 2018
We are very excited to highlight a staff member each month from our team of superb employees. AML RightSource April Employee Spotlight: meet Amber Schydzik! Amber is a Manager in our Cleveland office and has been with AML RightSource since March 2015.

The Nexus between Organized Crime and Terrorism

By John Wintrow | March 15, 2018
In past articles, we have discussed the tactics, techniques and procedures used by transnational organized crime (“TOC”) and foreign terrorist organizations (“FTO”); however, we have yet to discuss the alliance between the two, including the role the financial industry plays.

March Employee Spotlight: Mici Chase

By AML RightSource | March 1, 2018
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

By AML RightSource | February 15, 2018
Download John J. Byrne's Statement Examining De-risking and its Effect on Access to Financial Services

In Plain Sight: Illicit Funds Concealed in Artwork

By Christopher Lopez | February 13, 2018
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.

Podcasts

This week, Vice Chairman John Byrne, and Creative Director Elliot Berman of the AML RightSource staff the publication of information from leaked...

This week, Vice Chairman John Byrne, and Creative Director Elliot Berman of the AML RightSource staff discuss FinCEN’s Advanced Notice of Proposed...

In this edition of AML Conversations, AML RightSource Vice Chairman John Byrne sits down with terrorist financing career expert Dennis Lormel to...

This week, Vice Chairman John Byrne, and Creative Director Elliot Berman of the AML RightSource staff discuss the anniversary of the attacks on 9/11...

This week, Vice Chairman John Byrne, and Creative Director Elliot Berman of the AML RightSource staff discuss the recent press release published by...

In this episode of AML Conversations, Chuck Taylor, Executive Vice President and head of Financial Crimes Advisory and Tim White, Special Advisor...

There are many transaction monitoring systems in use at financial services companies (FIs). Many of them are rules based. They apply rules to...

This week, Vice Chairman John Byrne, and Creative Director Elliot Berman of the AML RightSource staff discuss recent guidance by financial...

This week, Vice Chairman John Byrne, and Creative Director Elliot Berman of the AML RightSource staff discuss the arrest of Steve Bannon and three...

In this episode of AML Conversations, AML RightSource Vice Chairman John Byrne sits down with Megan Hodge, Executive Compliance Director, BSA/AML...

Press

NEW CANAAN, CT, September 22, 2020 – Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders,...

To support company growth, AML RightSource recently designed and opened an office in Highland Hills, OH. The newly renovated 43,602 square foot space...

CLEVELAND, Ohio – February 10, 2020 – AML RightSource, a leading firm focused on fighting financial crime for its clients and the world, today...

AML RightSource, a leading firm solely focused on Anti-Money Laundering (AML)/Bank Secrecy Act (BSA) and financial crimes compliance solutions, today...

AML RightSource, a leading firm solely focused on Anti-Money Laundering (AML)/Bank Secrecy Act (BSA) and financial crimes compliance solutions, today...

Our Advisory Board member Rick Small, and AML RightSource Vice Chairman John Byrne have led a multi-year effort resulting in the “Consortium for...

AML RightSource is pleased to announce the formation of its Inaugural Advisory Board to convene semi-annually starting in the first quarter of 2019.

Company’s Expansion into New York State Will Create 100 jobs in Western New York

AML RightSource is pleased to announce Timothy White, CAMS has joined the company as Vice President of Business Development and Sanctions.

AML/BSA Compliance Veteran to Expand Company’s Financial Crimes and Compliance Operations