Financial Crime Compliance Resources

What is cryptocurrency? 

To take your AML compliance program to new heights of effectiveness, introducing an artificial intelligence (AI) technology could be the right decision. Certain features like automation and rules-based algorithms...

Anti-money laundering compliance teams need to have several traits to help keep them at their best, these include resilience and adaptability. As an industry, we need to be aware of all challenges, both new and...

At the Financial & International Business Association (FIBA) AML Compliance Conference, David McLaughlin, SVP, Head of Technology Integration at AML RightSource, was joined by a knowledgeable panel of experts including...

The Financial Action Task Force (FATF[1]) recently updated its Risk-Based Approach Guidance for the Real Estate Sector. This update was prompted by increasing risks of money laundering and terrorist financing (ML/TF)...

Trafficking in persons is the second largest black market in the world (the first is the illegal drug trade). It is estimated that human trafficking is more than a $150 billion industry with over 24.9 million victims...

With scamming on the rise, criminals are always looking for people willing to lend them their bank accounts to receive and withdraw the unlawful cash and these people are called mules or money mules, now you must be...

Elder Financial Exploitation (EFE) is a global problem and is on the rise. One of several forms of elder abuse, this type includes theft, fraud, and exploiting the financial resources of older adults. The bad actors in...

After two years of discussion and negotiation, the European Parliament and the European Council reached a provisional agreement on the Markets in Crypto-Assets (MiCA), a framework of regulations for digital asset...

This is the second part of a two-part series on what money laundering is and some of the ways it is done.

AML case investigations traditionally center on the focal entity and their most active counterparties. However, limiting the circle of inquiry investigators may miss suspicious counterparty clues and any related risks,...

This is the first part of a two-part series on the what money laundering is and some of the ways it is done.

Financial institutions and banks need to be aware of all degrees of risk that their clients may bring, ranging from a third party with a damaged reputation, to one involved in organized crime. This means conducting...

Russia, Real Estate and Other Things*

U.S. Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) have introduced the Responsible Financial Innovation Act (also being referred to as “Lummis-Gillibrand”). The goal of the proposal is to create...

As a former Bank Secrecy Act (BSA) Officer I understand that BSA requirements are intended to ensure the integrity of the banking system and detect and deter money laundering. My experience has also shown me that the...

At a glance, the Cayman Islands may simply appear to be a small collection of islands located in the Caribbean Sea with less than 100,000 residents that are only notable for being a British Overseas Territory. These...

Corruption can lead to ethical and reputational problems at a private and public level, heightening the need for recognition across the globe about how to both report and prevent it. At the end of 2021, the Biden...

On April 14^th, the Financial Crimes Enforcement Network (FinCEN) issued an advisory on kleptocracy and foreign public corruption. This alert urges financial institutions to make a concerted effort to detect any proceeds...

Migrant smuggling arises due to global conflict, including fleeing from war, political instability, and violence, as well as a yearning for better opportunities and quality of life. This desire is capitalized by...

In recent times the crypto currency industry went through a phase of rapid growth which spawned a vast spectrum of projects exploring various use cases for blockchain technology. One of the biggest growth sectors within...

As digital currencies increase in adoption globally, this disruptive technology has caught the attention of federal institutions around the world, prompting the research and development of state-owned digital...

Money laundering through real estate is one of the common methods for criminals to clean their money as they take advantage of large amounts of money exchanging hands, thus transforming illegitimate funds into a safe...

Banks and other financial service providers can be put under the microscope by the Federal Government and Regulatory Agencies in a multitude of ways and face punishment with fines and penalties. But this can be avoided...

In June 2021, the US National Security Council published its strategy for countering domestic terrorism, following an increase in the number of terrorist incidents from American citizens with motives surrounding...