This Week in AML

 

PODCAST

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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7 min read

FATF Works to Balance Data Sharing and Privacy

FATF (the Financial Action Task Force) has issued a report: Partnering in the Fight Against Financial Crime – Data Protection, Technology and Private...

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6 min read

Latest on the ENABLERS Act

The US House of Representatives is acting on proposed amendments to the National Defense Authorization Act, including the ENABLERS Act. John and...

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6 min read

FATF Priorities for 2022-2024

The presidency of the Financial Action Task Force has recently transferred to Singapore and the new president has issued the organizational...

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5 min read

Is it Time for the ENABLERS Act?

A bi-partisan group from the US Congress has attached the ENABLERS Act to the FY 2023 National Defense Authorization Act (NDAA). The ENABLERS Act...

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6 min read

FinCEN and The Independent ATM Operators

FinCEN has issued a Statement on Bank Secrecy Act Due Diligence for Independent ATM Owners or Operators, focusing on the analysis that financial...

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6 min read

FinCEN’s New Advisory on Elder Financial Exploitation

FinCEN has issued updated guidance on Elder Financial Exploitation (EFE). The new Advisory looks at the increasing volume of thefts and scams...

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6 min read

DHS Updates the Terrorism Threat to the US

This week the Department of Homeland Security issued a bulletin, updating its assessment of the terrorism threat to the US. In the bulletin DHS...

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6 min read

Latest Views of the OCC on Cryptocurrency

Acting Comptroller of the Currency Michael Hsu recently spoke at the DC Blockchain Summit 2022 about the state of the virtual currency space. In his...

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6 min read

De-risking is A Broader Issue than Just Non-Profits

This week, Congresswoman Maxine Waters, Chairwoman of the House Financial Services Committee sent a letter to President Biden about financial access...

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6 min read

US Tops Financial Secrecy Index

The Tax Justice Network has released its Financial Secrecy Index 2022. The Index “identifies the world’s biggest suppliers of financial secrecy” with...

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5 min read

Is London the Capitol of Dirty Capital?

The UK has become a haven for rich Russians. The lax approach to regulation has allowed money laundering to flourish. Recent government action in...

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5 min read

HSI – Cornerstone Outreach

Homeland Security Investigations’ (HSI) Outreach Initiative – Cornerstone recently shared information about the rising level of organized retail...

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5 min read

UAE Continues to Offer Safe Haven to Bad Actors

The International Consortium of Investigation Journalists (ICIJ) recently shared documents with The Irish Times about the Kinahan organized crime...

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4 min read

FinCEN Issues Guidance on Kleptocracies and Foreign Corruption

The Financial Crimes Enforcement Network (FinCEN) recently issued guidance about kleptocracies and foreign corruption. The guidance includes insights...

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