Author Archives: Brian Monroe

Fincrime Briefing: ICIJ leaks cache reveals grand corruption in Africa, new resource to predict insider fraud, U.K. fincrime framework focus, and more

By Brian Monroebmonroe@acfcs.orgJanuary 21, 2020 Quote of the Day: “Hitch your wagon to a star.” – Ralph Waldo Emerson In today’s briefing, latest ICIJ “Luanda Leaks” cache reveals grand corruption tied to Africa, ties to PwC, new resource to counter insider fraud, focus on U.K. fincrime countermeasures, challenges under new regime, and more. Please enjoy this unlocked […]

Fincrime Briefing: Goldman profit falls on 1MDB costs, Canada’s RCMP shuts down casino investigative unit, Boeing compliance culture, Equifax spends on breach, and more

By Brian Monroebmonroe@acfcs.orgJanuary 16, 2020 Quote of the Day: “Act as if what you do makes a difference. It does.” – William James In today’s briefing, Goldman Sachs sees profits drop on 1MDB costs, expected penalty, Canada chided on fincrime for shutting down unit investigating laundering at casinos, expert looks at compliance lapses at Boeing, Equifax to […]

Fincrime Briefing: AML fines in 2019 breach $8 billion, Treasury official pleads guilty to leaking, 2020 crypto compliance outlook, and more

By Brian Monroebmonroe@acfcs.orgJanuary 14, 2020 Quote of the Day: “The past cannot be changed. The future is yet in your power.” – Unknown In today’s briefing, global financial crime compliance fines soar past $8 billion in 2019, a FinCEN staffer accused of leaking SARs takes a plea deal, Elliptic previews where crypto and compliance converge in 2020, […]

Fincrime Briefing: U.K. updates AML rules, new chief at ABN Amro must shoulder AML probe, SEC lays out 2020 exam priorities, including crypto, and more

By Brian Monroe bmonroe@acfcs.org January 10, 2020 Quote of the Day: “The soul becomes dyed with the color of its thoughts.” – Marcus Aurelius In today’s briefing, the United Kingdom updates its fincrime defenses, including capturing art world, new chief at ABN Amro must navigate compliance minefield, SEC details exam priorities, including crypto, fraud, AML, cyber, U.K. […]

ACFCS Exclusive Whitepaper: The Lightning Network – Deconstructed and Evaluated

  By Melanie Lefebvre, AML & LE investigations, Bitfinex, Peter Warrack CCO Bitfinex, and Yasmine Ibrahim, Compliance Analyst, TetherTo contact the authors, click here January 8, 2020   A new whitepaper by the top compliance minds at Bitfinex and Tether tackle the technical pros and compliance cons of the latest evolution of virtual value, the Lightning Network, […]

Fincrime Briefing: Former Wells execs face criminal probe in fake accounts scandal, Travelex hit with ransomware attack, Iran cyber defense tactics, and more

By Brian Monroe bmonroe@acfcs.org January 7, 2020 Quote of the Day: “There’s a way to do it better – find it.” – Thomas A. Edison In today’s briefing, former Wells execs to face criminal charges tied to fake accounts scandal, forex giant Travelex held hostage for $6 million in ransomware attack, Verafin offers 2020 outlook on fincrime […]

Fincrime Briefing: Dutch banks struggle to attain, retain AML talent, investors sue Danske on laundering failings, stock drop, Iran update, new cyber resource, and more

By Brian Monroe bmonroe@acfcs.org January 4, 2020 Quote of the Day: “You must take action now that will move you towards your goals. Develop a sense of urgency in your life.” – H. Jackson Brown, Jr. In today’s briefing, Dutch banks struggle to capture, keep top fincrime compliance pros, more irate investors sue Danske on heels of […]

Fincrime Briefing: FinCEN asks for comments on beneficial ownership burdens as bureau ramps up for more bank info requests, new casino AML guidance, sanctions resource, and more

By Brian Monroe bmonroe@acfcs.org December 31, 2019 Quote of the Day: “We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein In today’s briefing, FinCEN asks for comments on true burden of new beneficial ownership obligations, just as it prepares to ramp up more bank information requests in fincrime […]

Special Contributor Report: The Costs of Compliance – Expectations for Bending the Cost Curve

By Gary FerrariA Financial Crime/AML and Compliance Risk Management Leader and Advisor in Banking and Financial Services for more than four decadesDecember 27, 2019 November 1991 marked the beginning of recorded time for compliance programs, when Congress enacted the U.S. Federal Sentencing Guidelines for Organizations, essentially compelling U.S. corporations and financial institutions to formalize effective compliance […]

Special Contributor Report: Casino Fincrime Compliance – How to mitigate illicit money broker risks and create richer, timelier intelligence for law enforcement

By Paul CamachoA casino AML officer, retired IRS-CI Special Agent in ChargeDecember 26, 2019 In 2017, a major money laundering scandal erupted in British Columbia where drug trafficking gangs used Canadian casinos to launder massive amounts of currency with the help of money brokers working for Asian organized crime syndicates.  According to media reports, nearly $2 […]

Fincrime Briefing: Latvia fines SEB on AML, Wolfsberg shifts focus to compliance effectiveness, HSBC pays DOJ more than $190 million in tax fracas, and more

By Brian Monroe bmonroe@acfcs.org December 20, 2019 Quote of the Day: “Very little is needed to make a happy life; it is all within yourself, in your way of thinking.” – Marcus Aurelius In today’s briefing, Latvia continues AML compliance crackdown in Danske scandal aftermath, Wolfsberg asks for examiner credit for compliance effectiveness, HSBC Switzerland pays $192 […]