Financial Crime Compliance Resources

AML RightSource January Employee Spotlight: Meet Sabeen Baakza, J.D., Senior Associate from our Financial Crimes Advisory practice! Sabeen joined AML RightSource in 2016 and works in our Phoenix office.

The International Monetary Fund (“IMF”) indicated that Illicit Financial Flows (“IFFs”) surging from developing economies globally reached a staggering $3.5 trillion USD in 2014. Every year, approximately $1 trillion...

This holiday season AML RightSource has several initiatives to give back to the community. Throughout the month of December, members of AML RightSource Cleveland and Hudson offices are volunteering at The Greater...

AML RightSource December Employee Spotlight: Meet Samantha Mucha, Esq., CAMS, CFE, CFCS from our Financial Crimes Advisory practice!

Crimes against children are heinous and known to be vilified even among the most notorious criminals, but these crimes are, unfortunately, also extremely profitable. The child pornography (CP) industry is a criminal...

Mergers of Financial Institutions (FIs) are an increasingly common industry trend. A merger creates a number of challenges for Bank Secrecy Act (BSA) Officers who are tasked with developing an integration plan, while...

Recently, we observed the sixteenth anniversary of 9/11, recalling the tragic loss of life and the sustained terror threat that still exists. Numerous articles pertaining to the anniversary have been published; however,...

How effective is your financial institution (FI) at assessing the overall inherent risk within your organization? Where is the highest amount of risk concentrated within the enterprise? How is AML enterprise-wide risk...

Financial crimes are a global epidemic, serving as a constant reminder that crime does not discriminate and cannot be contained at the border. If you recall from our last article, 'Threat Finance Spotlight on the...

Last time we detailed a methodical approach for US financial institutions (“FI”) in the development of an effective anti-money laundering (“AML”) transaction monitoring strategy, concluding with tuning and optimization...

Are all rules created equal? How do you design effective transaction monitoring rules that are capable of capturing the vast majority of money laundering and related illicit activities? In this post, we take a closer...

Where do look back and AML remediation projects arise from? What are the typical root causes leading to a look back or remediation project? What are the pitfalls of a look back or remediation? How do you create a...

This month AML RightSource started a new initiative to recognize employees who are going above and beyond. Employees who are recognized each month for their efforts are called "Rock Stars".  

Transnational Trade-Based Money Laundering ("TBML") constitutes one of the most challenging and malevolent forms of money laundering to investigate. According to Immigration and Customs Enforcement ("ICE"), "Criminal...

At the onset of a new administration piloted by President-Elect Donald Trump, propelled by the potential of financial deregulation and anticipated changes in the international regulatory framework, the anti-money...

Where does your institution’s Anti-Money Laundering (“AML”) strategy place its focus? Is compliance your goal? Does your road map lead to compliance through a policy; a designated compliance officer; a system of...

The demand for AML/BSA personnel is higher than ever before. And while demand is at an all-time high, the supply of smart, well-trained people is deficient. This simple issue is crippling banks’ ability to stay current...

Abraham Lincoln is rarely associated with failure.

If you've ever had a relationship fade out after a few dates, then odds are you already know what it's like to have a failed vendor relationship.

(Originally published in the January 2016 edition of the Cleveland Metropolitan Bar Journal)

The New Year is upon us - time to eat better, work out more, and focus on career. And, let's be honest, by "focus on career" what we mean is:

Houston, We Have a Problem

We've all been in that meeting. You know, the one where we talk about the number of widgets that need to be assembled by a certain date and the fact that our teams are not assembling them at...

Lately, this seemingly basic question seems to occupy the minds of AML Compliance Officers and operational types alike.

As it turns out, the answer is simple: You need to develop your AML department like a professional...

Employees at AML RightSource are using fashion for the social good.

Each week the firm’s employees make charitable donations in exchange for a “jeans Friday” at the office. So far, the company has raised money for many...

AML industry regulations create need for highly analytical professionals for financial crime compliance.

According to an article by Brian Monroe for the Association of Certified Financial Crime Specialists (ACFCS), the...