Will 2020 bring true AML Reform?
“For what it’s worth,[1]” corruption is the key.
January Employee Spotlight: Amy Petric
We are very excited to highlight a staff member each month from our team of superb employees. AML RightSource January Employee Spotlight: meet Amy Petric!
AML Conversations: Steve Cohen – Basis Technology
In this edition of AML Conversations, Elliot Berman, Marketing Advisor at AML RightSource sits down with Steven Cohen, Executive Vice President, Chief Operating Officer and Co-Founder of Basis Technology. The company is engineering a safer & more productive world by building proven Artificial Intelligence solutions for analyzing text, connecting data silos, and discovering digital evidence. The conversation focuses on how various elements of AI are influencing the effectiveness of transaction monitoring in the financial services space and what AML compliance professionals need to know about AI as it plays an increasing role in our interdiction activities.
Combating Human Trafficking from the Financial Side
AML RightSource was honored to participate in last month’s celebration of the 10th Anniversary of the award-winning Southern California ACAMS Chapter. More importantly, the event raised money and additional essential awareness of the need for the AML community to continue to combat the horrors of human trafficking.
Triangle Fraud: A Crime with Triple the Number of Victims
Triangle fraud involves a unique twist on the sale of stolen goods. This fraud gets its name from the crime resulting in three different parties falling victims to the scheme: a cardholder, a merchant, and a buyer. The maneuver is made deliberately complex to obscure the criminal’s identity and make it difficult to follow the flow of funds. To understand why triangle fraud exists, one must think like a criminal. Tangible goods purchased online must get shipped to a physical location where someone has to retrieve the merchandise. The inherent risk for theft is being caught as the receiver of stolen property. Criminals attempt to sidestep this issue by shipping stolen goods to a third party.
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
