The recent evolution of Cuban Sanctions
The changes bring us back to the Embargo’s early days! OFAC officers and compliance professionals are constantly challenged with understanding the many different sanction regimes enforced by the Office of Foreign Assets Control. Of these many sanction regimes, Cuba is the only one with some of its sanctions under the authorities of the TWEA (Trading with the Enemy Act).
December Employee Spotlight: Nadia Bhatti
We are very excited to highlight a staff member each month from our team of superb employees. AML RightSource December Employee Spotlight: meet Nadia Bhatti! Nadia Bhatti is a Senior Analyst in the AML RightSource Cleveland office with over two and half years of experience in financial crimes compliance. Ms. Bhatti joined
No Receipt? No Problem. How Fraudsters use Merchandise Returns to Make Millions
As holiday shopping increases, so do the opportunities for Organized Retail Crime. “Theft from retail establishments has long been a problem,” – according to Rep. Robert C. Scott, (VA), Chairman of the House Subcommittee on Crime, Terrorism, and Homeland Security back in November 2009 – “but the problem gradually grew
The Song Remains the Same*
AML Professionals simply want the BSA to work.. Whether in open hearings before Congress, at conferences, or in closed-door sessions such as our recent AML RightSource Symposium, when AML community leaders discuss their challenges, the themes are constant-the bifurcated nature of the Bank Secrecy Act prevents success. Success, as has been defined many times, is to get information into the hands of law enforcement. Over the course of the day, the group of AML leaders covered a broad range of issues including internal audit, examiners, third party vendors and technology and all seemed to arrive at the same place—much of the infrastructure surrounding AML sometimes contributes to inefficiency and misplaced allocation of resources. Some examples follow:
