Prescriptions for Creating a More Robust AML Program

By Mohammad Faraj | April 18, 2018
In today’s regulatory enforcement environment, staying ahead of the trends in BSA/AML compliance is critical. The stakes in minimizing risk have never been higher, compelling managers to focus on the promotion of healthy and responsible institutional practices within their financial institutions (“FIs”). A strong AML program operates in the background when things are going smoothly. However, when things go wrong, the consequences are usually severe and the weaknesses come to the forefront. FIs and nonbank financial institutions (“NBFIs”), such as Money Services Businesses (“MSBs”), would be well advised to take necessary steps to avoid regulatory penalties and enforcement actions.

April Employee Spotlight: Amber Schydzik

By AML RightSource | April 13, 2018
We are very excited to highlight a staff member each month from our team of superb employees. AML RightSource April Employee Spotlight: meet Amber Schydzik! Amber is a Manager in our Cleveland office and has been with AML RightSource since March 2015.

The Nexus between Organized Crime and Terrorism

By John Wintrow | March 15, 2018
In past articles, we have discussed the tactics, techniques and procedures used by transnational organized crime (“TOC”) and foreign terrorist organizations (“FTO”); however, we have yet to discuss the alliance between the two, including the role the financial industry plays.

March Employee Spotlight: Mici Chase

By AML RightSource | March 1, 2018
We are very excited to highlight a staff member each month from our team of superb employees. AML RightSource March Employee Spotlight: meet Mici Chase from our Financial Crimes Advisory practice! Mici joined AML RightSource in March 2015 and operates out of our Cleveland office. She has worked on a wide variety of projects and is very knowledgeable on BSA/AML regulations and best practices.

John Byrne’s Statement to the House Financial Institutions and Consumer Credit Subcommittee

By AML RightSource | February 15, 2018
Download John J. Byrne's Statement Examining De-risking and its Effect on Access to Financial Services

In Plain Sight: Illicit Funds Concealed in Artwork

By Christopher Lopez | February 13, 2018
In 2007, US federal investigators found someone attempting to smuggle a painting, titled Hannibal, at New York’s Kennedy Airport. Although the painting by American artist Jean-Michel Basquiat was appraised at $8 million, it was accompanied with a bill of lading listing the value as $100. The painting was part of a 12,000-piece art collection purchased by Brazilian financier Edmar Cid Ferriera using embezzled funds. Similarly, in a high-profile money laundering case that helped finance the movie, “Wolf of Wall Street,” Malaysian Prime Minister, Najib Razak, siphoned part of a $1 billion fortune from the Malaysian sovereign wealth fund into American assets, such as real estate in California and, most notably, works of paintings by Basquiat, Rothko, and Van Gogh. Both Ferreira and Razak gained recognition, not because of the amassed wealth they laundered, nor because they were renowned art enthusiasts, but because of the manner in which it was performed.

February Employee Spotlight: John Wintrow

By AML RightSource | February 1, 2018
AML RightSource February Employee Spotlight: Meet John Wintrow from our Financial Crimes Advisory practice! John, commonly regarded as JW by the Financial Crimes Advisory team, joined AML RightSource in 2016 and works in our Phoenix office.

The Financial Risks and Transparency of the Diamond Industry

By Mici Chase | January 17, 2018
Where do diamonds come from? Before a diamond is set and sold, it travels through a series of forms, and simultaneously, across the world. Diamonds are mined and initially traded as rough diamonds, then cut and polished to be traded as loose polished diamonds, sold to jewelry manufacturers where they become mounted polished diamonds, enter jewelry retailers, and are ultimately bought by consumers. Diamonds may be mined in Africa, cut and polished in India, traded in Belgium, and sold to consumers in the United States.

January Employee Spotlight: Sabeen Baakza

By AML RightSource | January 2, 2018
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.

AML Conversations

Jenni Halleran,  the Head of Financial Crimes Investigations at Silicon Valley Bank, discusses her career path, growing up in a blue collar town, and...

Mark Freedman, CEO / Founder of Rebel Global Security and former Chief of Section in the Counter-Terrorism Bureau at the US State Department...

Guy Ficco, Deputy Chief of IRS-Criminal Investigation, joins us to discuss his new role, the vast coverage of financial crime by the IRS, the...

John Byrne chats with John M. Geiringer, of Barack Ferrazzano Financial Institutions Group, about the new book he edited and co-authored, Countering...

Dennis Lormel, President of the Society of Former Agents of the FBI, discusses the ramifications of the public attacks on the FBI by elected...

There have been outrageous comments made by “policymakers” about the IRS since the passage of the Inflation Reduction Act. AMLRS Chairman of the...

Asset Forfeiture Global Expert Stef Cassella returns to AML Conversations to discuss civil and criminal forfeiture. He explains how it's used, common...

Kit Conklin, VP at Kharon and a Senior Fellow at the Atlantic Council discusses the recent “joint alert” between the Financial Crimes Enforcement...

John discusses with Kent Belasco, the Director of Marquette University’s Commercial Banking Program, a recent project with a microfinance...

Alan Ketley, the new Executive Secretary of the Wolfsberg Group discusses the mission of the group, their focus on a variety of AML related topics:...

Press

AML RightSource, the leading provider of Anti-Money Laundering (“AML”), Know Your Customer (“KYC”), and Bank Secrecy Act (“BSA”) compliance...

AML RightSource’s ongoing expansion into the technology arena continues to go from strength-to-strength as they welcome Stern International Bank to...

Please see a statement below from AML RightSource’s CEO and Buffalo local resident Frank Ewing about this weekend’s tragic events (Saturday May 14,...

CLEVELAND – April 13, 2022 — AML RightSource, the leading provider of Anti-Money Laundering (“AML”), Know Your Customer (“KYC”), and Bank Secrecy Act...

AML RightSource, the leading firm focused on fighting financial crime for clients and the world, welcomes Alexandra Lugo as the company’s general...

Initiative to Create 363 Jobs in Buffalo CLEVELAND –- March 21, 2022 — New York Governor Kathy Hochul announced that AML RightSource, the leading...

AML RightSource, the leading firm focused on fighting financial crime for clients and the world, is pleased to announce that Mark Horwood-James has...

CLEVELAND (March 7, 2022) — AML RightSource (“AMLRS”), the leading firm focused on fighting financial crime for clients and the world, is pleased to...

AML RightSource (“AMLRS”), the leading firm focused on fighting financial crime for clients and the world, is pleased to announce that Nicholas...