FATF: Priorities Looking Forward
In this installment of AML Voices, John Byrne, Vice Chairman, Sarah Runge from Credit Suisse and Chip Poncy from K2 FIN discuss the Financial Action Task Force’s (FATF) priorities for the next two years and how they will impact your BSA/AML compliance program.
Challenges in managing BSA systems
In this episode of AML Conversations, Chuck Taylor, Executive Vice President and head of Financial Crimes Advisory and Tim White, Special Advisor from the AML RightSource staff discuss some of the challenges of managing BSA systems to ensure they are effective and meet your FI’s needs.
Are There Any PEPs at Home?
This week, Vice Chairman John Byrne, and Creative Director Elliot Berman of the AML RightSource staff discuss recent guidance by financial institution regulators about politically exposed persons – PEPs - and a call by Transparency International EU for increased vigilance on money laundering enforcement by EU regulators.
How to Interpret the New Joint Statement on Enforcement of BSA/AML Requirements
You Better Think Twice[i]
Outline of an Effective AML/BSA Compliance Training Program
In this installment of AML Voices, John Byrne, Vice Chairman and Mike Schidell, Director of Training at AML RightSource discuss the outline of an effective BSA/AML compliance training program.
What does it take to be a BSA Officer?
In this episode of AML Conversations, AML RightSource Vice Chairman John Byrne sits down with Megan Hodge, Executive Compliance Director, BSA/AML Officer at Ally Bank. John and Megan discuss the attributes of a BSA Officer, including the desired skills, effective background and experience and how organizations can nurture internal staff to prepare for these positions.
Global Disruption of Three Terror Finance Cyber-enabled Campaigns
This week, Vice Chairman John Byrne, and Creative Director Elliot Berman of the AML RightSource staff discuss the announced seizure by the Justice Department, the IRS and other federal agencies of cryptocurrency accounts from several terrorist organizations. The seizures related to terrorist financing campaigns by the Al-Qassam Brigades, Al-Qaeda and ISIS.
Independent Testing – Getting this Five Pillars Requirement Right
The reputation of a financial institution (FI) relies heavily on the conceptual soundness of its BSA/AML compliance program. Furthermore, the integrity of a FI’s compliance department depends on its ability to identify gaps and deficiencies in its compliance program. A functional way to identify gaps and deficiencies in a BSA/AML compliance program is through independent testing (one of the five pillars of an effective BSA/AML compliance program[i]).
What are the Cybercriminals Up to Now?
The Financial Crimes Enforcement Network (FinCEN[1]) has issued an advisory[2], providing guidance and red flags for cybercrime and cyber-enabled crime occurring during the COVID-19 pandemic. The advisory is intended to, “aid financial institutions in detecting, preventing, and reporting potential COVID-19-related criminal activity.” As you know, there have been numerous alerts issued by various government agencies about crimes and frauds being perpetrated during the pandemic. Links to many of them are available on our COVID-19 resources page - feel free to disseminate them throughout your institution or firm.
