AML Conversations is dedicated to inform professionals and those interested in anti-money laundering about conversations happening in the government, private sector, and internationally. Throughout the series John Byrne, AML RightSource Vice Chairman, will interview industry experts or participate in live programming or panel discussions related to the industry.
2021 Corruption Perceptions Index Released – Things are Not Improving
his week Transparency International released its 2021 Corruption Perceptions Index (CPI). The CPI uses a number of criteria to evaluate the status of corruption in 180 countries. For 2021 the global average remained unchanged at 43 on a 100 point scale. John and Elliot discuss some of the findings in the CPI and the links between corruption, deterioration in human rights, the rise of authoritarianism, and the continuing assault on democracy.
Treasury Dept Issues Review of 2021 Activities
This week the US Treasury issued its Year in Review: Treasury’s Top Accomplishments During Year One of the Biden-Harris Administration. The release looks at a broad set of areas for which the Department is responsible. John and Elliot discuss items in the National Security and Protecting the Financial System sections of the release.
FATF Guidance on Risk-Based Approach to Virtual Assets and Providers
John Byrne sits down with Jeffrey Alberts of Pryor Cashman LLP and Ari Redbord of TRM Labs to discuss the latest guidance from the Financial Action Task Force about a risk-based approach to virtual assets and virtual asset service providers. They discuss the importance of the definitions in the guidelines, how the proliferation of virtual assets is impacting the risk landscape, and how the guidance will impact participants in the virtual asset space.
FinCEN Director Outlines Transformations in AML Compliance
This week FinCEN’s Acting Director, Him Das, delivered remarks at the ABA/ABA Financial Crimes Enforcement Conference. In the speech, he spoke about the shifts in emphasis of Bank Secrecy Act regulations over the past 30-plus years. John and Elliot discuss those shifts and look at the three new areas of focus outlined in Acting Director Das’s remarks: new threats, new innovations, and new partnerships.
1/6/22 – Where Do We Go From Here?
This week was the 1st anniversary of the insurrection at the US Capitol. John and Elliot focus their conversation on what the financial crime compliance community can do to identify the monetary footprint of potential domestic terrorist acts. They discuss the recent statements by the President, Vice President, and the Attorney General and urge listeners to report transaction activity that fits the patterns of possible terrorist activity.
The Ramifications of the January 6th 2021 Attacks
Former FBI TFOS Director Dennis Lormel discusses the ramifications of the January 6th 2021 attacks on the US Capital on society and the AML community. Dennis covers the financial warning signs to the radicalization that leads to domestic terrorism.