Moody’s Talks: KYC Decoded Moody's Analytics

What if your anti-financial crime program could build investigation models using sensitive data you may not have direct access to – in a totally compliant way? In this episode, we learn from Privacy Enhancing Technology (PET) expert, Michael Hughes, Chief Business Offer at Duality Technologies, about the potential PETs have to change the game of KYC.

Follow along as Michael and host, Alex Pillow, discuss all things PETs, exploring topics like: the value PETs could bring to the world of AFC; privacy rights of an individual vs. useful data for institutions; various PET use cases; how regulatory bodies feel about the rise of PETs; and industry sectors that have become early adopters of PETs (the answer may surprise you).

It is safe to say technology has done wonders when it comes to AML professionals tackling financial crime, but, on the flip side, it is important to understand how technology is being used by those committing the crimes.

From video game online marketplaces to virtual currency mixers, how can we follow the money when tech is used to cover its tracks?

In this episode of KYC Decoded, we welcome back esteemed guest, Geoff White, investigative journalist and author of the upcoming book, Rinsed: From Cartels to Crypto: How the Tech Industry Washes Money for the World’s Deadliest Crooks.

Get an inside look at some of the crimes that are featured in Rinsed, and listen as Geoff and host, Alex Pillow, explore questions like: how has the digitization of currency impacted the way criminals launder money? Is there a future where crypto can be crime-free? What role does social media play for bad actors? Should technology companies be held accountable for how money launderers use them?

Rinsed is available for preorder and will be published on June 13, 2024.

Change is essential to survive and thrive in any enterprise. As we narrow in on the world of AML and KYC, the adaptation of sophisticated criminals is evident, so the question arises: what disruptions are needed to outsmart these bad actors? In this episode of KYC Decoded, Head of Strategy & Content at Sardine, Simon Taylor, lends us his astute and perceptive expertise as we explore this questions further.

You won’t want to miss this energetic and educational conversation with host, Alex Pillow. Their wide-ranging discussion covers topics like: the different areas of KYC and AML that have the greatest opportunities for disruption; the role of advancing technologies and how they might be used in particular use cases; and how change could impact industry professionals.

Russia’s invasion of Ukraine in February 2022 set off a series of global sanctions enforcement actions. The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has meted out sanctions to curb Russia’s defense procurement, energy weaponization, and international trade activity. To date, the EU has also imposed 12 sanctions packages on restrictive measures – with the 13th to be formally approved in February.

In this episode, we speak with Dr. Andrea Viski, founder and director of the Strategic Trade Research Institute and editor-in-chief of the Strategic Trade Review, on how the global sanctions environment has changed since the invasion, and where the biggest risks in sanctions-related financial crime lie.

This conversation covers topics including: the impact of sanctions packages on Russia’s economy – where the sanctions have been effective in disconnecting Russia from global trade and economic activity; how the global sanctions environment has changed since the invasion; new challenges KYC and AML professionals now face, and how they can mitigate sanctions-related risks; and the latest sanctions evasion trends and red flags.

The creation of the AMLA, the authority on money laundering in the European Union, is imminently upon us. And the critical question compliance professionals are wondering is: where will it live? Choosing an EU city to be the representative of 26 different cultures most certainly has needed careful thought and planning. The official location choice is set to be announced February 22, 2024, in the meantime we check in with Francis Marinier, Moody’s Analytics Financial Crime and Compliance Industry Practice Lead, to discuss his predictions.

Follow along to hear more about: what the AMLA is and why it was formed; why cities would want to be home to the AMLA; what the European Parliament must consider when selecting a location; and the pros and cons of potential host cities such as Frankfurt, Madrid, Paris, and Dublin.

Much has changed since we last visited the US Corporate Transparency Act (CTA) in March of 2023 on KYC Decoded. Now that FinCEN has officially rolled out its beneficial ownership database, what is the lay of the land for risk and compliance professionals? In this episode, we welcome back Jim Richards, former BSA officer, author, speaker, and CEO of RegTech Consulting to share his thoughts on where we are now, where there is room for improvement, and just how useful this database will be when combatting financial crime.

Key highlights of this educational discussion include: Jim’s time testifying before US congress in June of 2023; the current limitations around access to the database; the types of organizations that are exempt from the database; the level of threat the database poses – or doesn’t pose – to financial criminals in both the short term and longer term; and suggestions on how FinCEN should move forward.