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This Week in AML

 

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This Week in AML

8 min read

What Do a Retired FBI Agent and Real Estate Have in Common?

This week a retired senior FBI agent Charles McGonigal was arrested on charges of money laundering and violating US sanctions. Also this week, the...

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This Week in AML

8 min read

Human Smuggling Along the US Southwest Boarder – A FinCEN Alert

The Financial Crimes Enforcement Network (FinCEN) issued an alert focused on human smuggling along the southwest board of the US. John and Elliot...

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This Week in AML

6 min read

Eurasia Group’s Top Risks for 2023

The Eurasia Group, a consultancy focusing on political risk, has published its Top Risks - 2023. John and Elliot look at the purpose of the report...

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7 min read

US Banking Agencies Increase Their Focus on Crypto-Assets

The primary US bank regulators - the Federal Reserve, FDIC, and OCC - issued a joint statement on crypto-asset risks to banking organizations. The...

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7 min read

FATF Updates its Guidance on the Real Estate Sector (Archive Edition)

This episode originally aired on July 29, 2022. 

The Financial Action Task Force (FATF) recently issued updated Guidance for a Risk-Based Approach to...

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7 min read

Basel AML Index 2022 – Moving Backward (Archive Edition)

This episode originally aired on October 7, 2022. 

This week, the Basel Institute on Governance published its 2022 AML Index. The index assesses...

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6 min read

Danske Bank – Why Correspondent Banking Can Be High Risk

 The US Department of Justice and the Securities and Exchange Commission have announced a resolution of charges against Danske Bank. The Bank pled...

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7 min read

National Security and Homeland Security

It has been a busy week for US government pronouncements on national security and terrorism. The Secretary of the Department of Homeland Security...

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7 min read

The Impact of Corruption on Democracy

 The White House has published a Fact Sheet: Summit for Democracy: Progress in the Year of Action. It discusses activities taken since the first...

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7 min read

FinCEN’s New Advisory on Elder Financial Exploitation (Archive Edition)

This episode originally aired on June 17, 2022. 

FinCEN has issued updated guidance on Elder Financial Exploitation (EFE). The new Advisory looks at...

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5 min read

New Sanctions on Internet Suppliers of Fentanyl

The US Treasury and its Office of Foreign Assets Control (OFAC) have announced new sanctions against a number of individuals and entities involved in...

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6 min read

FinCEN Updates its Analysis of Ransomware Trends for Late 2021

The Financial Crime Enforcement Network (FinCEN) has issued its Ransomware Trends for the second half of 2021. John and Elliot look at the process...

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8 min read

Nonprofits Experience Significant Difficulties Transferring Funds for Humanitarian Activities

The Center for Strategic and International Studies has released a report on Mitigating Financial Access Challenges. The report focuses on ways to...

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5 min read

Homeland Security Launches Operation Boiling Point

Homeland Security Investigations has launched Operation Boiling Point an initiative to curb organized retail crime and cargo theft. The effort brings...

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7 min read

AML Compliance for Start-ups – Bittrex

This week the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) issued enforcement actions against...

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6 min read

Basel AML Index 2022 – Moving Backward

This week, the Basel Institute on Governance published its 2022 AML Index. The index assesses countries’ money laundering and terrorist financing...

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5 min read

Can I Send a Remittance to Cuba?

The Office of Foreign Assets Control (OFAC) has issued updated FAQs clarifying the regulations about people in the US sending electronic remittances...

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5 min read

Another Busy Week in AML

John and Elliot discuss several topics from this week: a recent ProPublica article on human traffickers forcing victims into cyberscamming, recent...

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7 min read

The Impacts of De-Risking on the Caribbean

The US House Financial Services Committee held a hearing this week on the availability of financial services in the Caribbean region. The hearing...

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7 min read

Disrupting the Financing of Domestic Terrorism

A recent essay on Lawfare caught John and Elliot’s attention. The authors reviewed the costs and funding sources of the January 6th insurrection and...

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7 min read

GAO Calls for More Information on How SARs are Used

The US Government Accountability Office (GAO) recently issued a report to Congress. The report focused on how the US Department of Justice is...

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7 min read

The Wolfsberg Group Gives Guidance on Requests for Information in AML Transaction Monitoring

The Wolfsberg Group, an association of 13 global banks, this week issued a guidance document on requests for information (RFI). The focus of the...

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6 min read

Federal Reserve Issues Guidance on Crypto Activities

The Federal Reserve has issued additional information for banking organizations about crypto-asset-related activities. It is contained in Supervisory...

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6 min read

Fraud Schemes Just Keep Coming.

The US Department of Justice has announced that a federal grand jury has indicted representatives of Electronic Transactions Systems Corporation, a...

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6 min read

Should Russia be Designated a State Sponsor of Terrorism?

John and Elliot chat about an interesting Op/Ed piece that appeared in The Washington Post this week. The author, an expert in international law,...

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6 min read

FATF Updates its Guidance on the Real Estate Sector

The Financial Action Task Force (FATF) recently issued updated Guidance for a Risk-Based Approach to the Real Estate Sector. The updated guidance...

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