6 min read
Connecting Fraud and Money Laundering
The US Department of Justice announced an indictment charging four people with fraud and money laundering. John and Elliot discuss the connection...
AML RightSource is the leading provider of AML/BSA and financial crimes co-sourcing solutions. With over 1000 AML/BSA professionals, AML RightSource assist clients in meeting their AML/BSA regulatory demands. The company’s current services include transaction monitoring, alert backlog management, enhanced due diligence reviews, fraud, and financial crimes advisory services. AML RightSource, a Clarion Capital Partners portfolio company, is headquartered in Cleveland, Ohio, and has additional facilities in Ohio, Arizona, New York, and Mississauga Canada.
6 min read
The US Department of Justice announced an indictment charging four people with fraud and money laundering. John and Elliot discuss the connection...
7 min read
The FATF June Plenary has ended, and the Homeland Security & Governmental Affairs of the US Senate issued a report on intelligence failures before...
7 min read
The US Department of State has issued its 2023 Trafficking in Persons report. The theme of this year’s report is partnerships. John and Elliot...
8 min read
US bank regulators have issued interagency guidance on third-party risk management. The new pronouncement combines and updates past guidance issued...
8 min read
There have been several recent articles about the effectiveness of US sanctions. John and Elliot examine this issue and discuss where the programs...
6 min read
Seven years ago, the Panama Papers were published. Recent statistics show that registrations of anonymous corporations in Panama have dropped by more...
6 min read
US law enforcement agencies recently completed a three-month campaign to disrupt frauds perpetrated by foreign actors. John and Elliot discuss the...
7 min read
John and Elliot explore how intermediaries are helping evade sanctions and bring luxury goods to Russia. They also discuss new cooperation between...
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The New York Attorney General has proposed legislation to regulate the cryptocurrency industry. The proposal includes provisions protecting...
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The US Treasury has issued its 2023 De-risking Strategy. The report reviews the reasons that banks engage in de-risking and includes recommendations...
8 min read
Sanctions against Russia have been a meaningful part of the support for Ukraine by the United States and the European Union. A significant challenge...
7 min read
The Wolfsberg Group has published updated Anti-Bribery and Corruption Compliance Programs guidance. John and Elliot discuss critical elements of the...
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UBS and Art Basel recently issued their report, The Art Market 2023. The report includes a discussion of the concerns about the compliance burdens of...
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Another very busy week in financial crime prevention. John and Elliot discuss several items, including new sanctions, a letter from the House and...
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This week the White House hosted the second Summit for Democracy, focusing on reducing corruption and illicit finance. Treasury Secretary Janet...
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The International Consortium of Investigative Journalists (ICIJ) has published a story about artifacts in the Metropolitan Museum of Art catalog...
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This week the US Department of Justice announced an indictment against seven individuals for a $100 million stolen identity refund scheme. The Office...
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The US Department of Justice has updated its Corporate Enforcement Policy for criminal activity. John and Elliot discuss some aspects of the...
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The Financial Action Task Force (FATF) held a plenary last week. FATF also issued a report on Money Laundering and Terrorist Financing in the Art and...
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It has been a year since the Russian invasion of Ukraine. One of the immediate responses to Russia’s action was an ongoing coordinated effort by the...
8 min read
John and Elliot discuss several items this week, including a posting by the International Consortium of Investigative Journalists (ICIJ), a comment...
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The Wolfsberg Group and the Institute of International Finance have issued a joint comment letter to the European Banking Authority on de-risking....
7 min read
This week Transparency International released its 2022 Corruption Perceptions Index (CPI). The CPI uses a number of criteria to evaluate the status...
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This week a retired senior FBI agent Charles McGonigal was arrested on charges of money laundering and violating US sanctions. Also this week, the...
8 min read
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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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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The primary US bank regulators - the Federal Reserve, FDIC, and OCC - issued a joint statement on crypto-asset risks to banking organizations. The...