Are Gray Area NFTs the New Source of Crypto-concern for AML?
“What does NFT even stand for, anyway?” Perhaps these words have resonated with you the past few months in conversations with colleagues or friends. While seemingly a throwaway joke, it echoes an unfamiliarity that many people working in financial compliance will see as a large hindrance to their KYC and AML processes.
FinTechs: Reducing Friction in Customer Onboarding
In this edition of AML Voices, Elliot Berman, Creative Director at AML RightSource, Amelia Childress, Head of Compliance, Cash App at Square, Melissa Strait, Chief Compliance Officer at Coinbase and Chuck Taylor, EVP and Head of Financial Crimes Advisory at AML RightSource, discuss how to control the elements of the onboarding process in the quest for a frictionless experience.
Between COVID & Compliance – The Current Highs and Lows of the Dope Industry
The decriminalization of marijuana has been gathering increased momentum in recent years, particularly in the United States. At least 35 states currently allow the use of marijuana in one way or another (recreational vs medicinal). Driven by exceptional demand and growing support for legalization, the legal cannabis industry was valued at $13.2 billion in 2019. Investors poured close to $120 billion into marijuana-related businesses (MRBs) that year, as forecasts predicted a CAGR of 21% extending to 2022 and beyond.
Cannabis: Three Tiered Risk Management
Assessing the risk of providing services to cannabis related businesses requires an analytical format. Our panel of experts discuss how using a three tier assessment process can help FIs manage the risk of serving the CRB industry.
Impact of AMLA 2020 on Financial Crime Enforcement
Join Elliot Berman, Creative Director at AML RightSource, Christopher Ferguson, Partner at Kostelanetz & Fink, LLP, and John Byrne, Executive Vice President at AML RightSource, as they discuss the recently adopted Anti-Money Laundering Act of 2020 and some of its key provisions affecting financial crimes enforcement.
John Davidson: A Focus on the Securities Industry
John Davidson, AML expert from the securities industry, shares his views on the difference between traditional banking and securities, recent cases and actions by the Securities and Exchange Commission (SEC), and how he sees the financial crime prevention area changing in the coming years.
Kerry Donley: Navigating Public Service While Maintaining a Work-Life Balance
In this episode of AML Conversations, John Byrne sits down with Kerry Donley, a financial services executive who spent 18 years on the Alexandria, VA City Council and as Mayor for 8 of those years. Kerry had to navigate work-life balance with the added challenge of public service. He has dealt with the impact of 9/11 on his community, working closely with law enforcement and the unique nature of historical Alexandria that contains the home of George Washington. A compelling and insightful conversation that is relevant to today’s challenges.
FinTechs: Working with Bank Partners
In this edition of AML Voices, Elliot Berman, Creative Director at AML RightSource, Amelia Childress, Head of Compliance, Cash App at Square, Melissa Strait, Chief Compliance Officer at Coinbase and Chuck Taylor, EVP and Head of Financial Crimes Advisory at AML RightSource, discuss how to establish and maintain an effective relationship with a bank partner.
Get Together: Partnering and Collaboration is a Model for Anti-HT Success*
We in the financial crime prevention community are still assessing how the new Administration will address white collar crime and accompanying regulatory oversight. With the recent announcements about a new focus on tax evasion and enhanced reporting requirements for newer payment products such as virtual currency, it is clear that various forms of compliance and training will be essential and need to be enhanced. Added to these challenges is the wide policy support for private-public partnership and information sharing embedded in the recently enacted Anti-Money Laundering Act of 2020. This leads me to the proposition that no matter what or how much we address at the same time, let’s pause and recognize the ongoing examples of how the financial sector continues to be proactive and encourage those efforts so that their resources continue to be available to combat crimes such as human trafficking.
