This week, John and Elliot discuss a new report from the OCCRP about global bad actors using Dubai real estate, the World Wildlife Crime Report from the UN Office of Drugs and Crime, a report from FINTRAC on virtual currency ATMs, a report from the Bipartisan Senate AI Working Group, and more.

John and Elliot discuss several recent announcements and actions significant to the financial crime prevention community this week. These include the indictment of Congressman Henry Cuellar on money laundering and bribery charges. The US sanctioned the LockBit ransomware group, Remarks by Andrea Gacki at the SIFMA AML conference, a new FinCEN advisory on Iran-backed terrorist organizations, and more.

Join Joe McNamara (AML RightSource), Elena Christopher (HFS Research), and John Byrne (AML RightSource), on a deep dive into the recent joint market impact report, “Driving the Evolution of Financial Crime Compliance: The People and Tech Imperative”. Joe, John, and Elena discuss some of the report’s interesting findings on the evolution of financial crime compliance, the driving force behind the survey, as well as a few practical insights found between the lines of the report. Discover how technology, when merged with expert human insights, is revolutionizing anti-money laundering efforts, particularly as we navigate the complexities of digital assets and expanding regulatory frameworks. Tune in for a compelling discussion on fostering effective collaborations between compliance professionals and law enforcement to tackle financial crimes more efficiently in today's dynamic environment.

This week, the White House released a new National Security Memorandum on Critical Infrastructure Security and Resilience. The Attorney General recommended reducing restrictions on marijuana. Global Financial Integrity and several other organizations released a report identifying 25 cases in which illegal, allegedly illicit, or suspicious funds were funneled into commercial property in the US. John and Elliot discuss these and other events of the week that are important to members of the global financial crime prevention community.

This week, John and Elliot discuss several items issued by FinCEN, including elder financial abuse and environmental crime, Treasury Undersecretary Nelson’s visit to Puerto Rico, and BaFin’s fining of Commerzbank.

If transaction monitoring thresholds are too sensitive or not sensitive enough, financial institutions run the risk of missing genuine criminal behavior. Likewise, without periodic tuning and optimization, systems may fail to detect emerging criminal methodologies or comply with the latest AML rules. In this episode, our advisory experts, Joshua and Jonathan, take a deep dive into the technical process of tuning and optimizing, sharing best practices and insights to ensure systems operate effectively and support a risk-based approach.

FinCEN issued a Notice about fraud schemes using counterfeit US passport cards this week. The FBI uncovered a complex money laundering strategy using casinos, sportsbooks, and FanDuel accounts. New bi-partisan stablecoin legislation was introduced in the US Senate. John and Elliot discuss these and more happenings and how they impact the financial crime prevention community.

This week, John and Elliot discuss Treasury testimony in the US Senate Banking Committee, Treasury’s updated cybersecurity MOU with Ukraine, a DOJ report on pandemic fraud, an interesting article on the impact of Russia sanctions, and more.

The money laundering challenges and potential abuse of the myriad “Residency and Citizenship by Investment Programmes.”: A FATF-OECD Report. Our panellists discuss the 2023 Report and the need for improved awareness of enabling the movement of illicit funds without proper oversight and reporting. Graham Peachey: UK Home Office Senior Policy Advisor and Project Co-lead for the Financial Action Task Force project on Misuse of Residency and Citizenship by Investment Programmes. Tivon Sterin: Senior Policy Advisor, Office of Terrorist Financing and Financial Crimes, U.S. Department of the Treasury. Co-lead for the FATF project team on Misuse of Residency and Citizenship by Investment Programmes.

American Mother: A conversation with Diane Foley, President and Founder of the James W. Foley Legacy Foundation. Diane discusses her book, her decade-long effort to change American policy on hostage negotiations, the continued need to ensure the safety of journalists traveling aboard, and the overall importance of journalism in a world racked with terrorist activity.

This week, the US Department of Commerce issued a report about investigations of export control and antiboycott violations. FATF published information about countries’ progress in complying with its Recommendation 15 about VASPs. FinCEN requested information on a possible change to the CIP rule. John and Elliot discuss these items and others and their meaning for the financial crime compliance community.