Author Archives: Brian Monroe
ACFCS Member Spotlight: For Moody’s Katie Conroy, fincrime analytics, compliance problem solving mirrors holism approach of anthropology, study of ‘how’ to learn, not just ‘what’ to learn
The Skinny: For Katie Conroy, fincrime compliance problem solving is more than just analyzing rules, ruminating on regulations, digesting data and settling on a defensible risk plateau. It’s about the history of human problem solving itself: anthropology to amplify strategy. In many ways, the tenets of the anthropologist mirror the need for fincrime compliance professionals […]
The Inside Track: In DOJ corporate enforcement update, more carrot than stick for honesty, but DPAs could be harder to nab as liability shifts to individuals, senior and otherwise
The Skinny: From accounting for a future compliance resolution to accountability and individual prosecutions. From delay, distract and backpedal to coming forward quickly, voluntarily and honestly disclosing the full scope of compliance failings. Those are some of the key takeaways from several just-announced and updated initiatives to embolden corporate compliance oversight, shorten investigations and sharpen […]
With SEC criticizing crypto sector, exchanges, intermediaries for lack of compliance, registration, AML risks rise for banks holding accounts
The Skinny: Most crypto coins are securities. Virtual value exchanges are basically securities trading platforms. The individuals involved in trading and promoting coins are equivalent to the roles performed by broker dealers and their interspersed, attenuated intermediaries. Those are just some of the key takeaways from Securities Exchange Commission (SEC) Chair Gary Gensler during a […]
ACFCS Member Spotlight: For Bottomline’s Dalit Amitai, fighting fraud, bolstering compliance defenses is an ‘all in’ effort to better harness technology, empower teams, thwart creative criminals
The Skinny: Dalit Amitai knows that criminals, whether they are cyber hackers, fraudsters or money launderers, are infinitely creative – always looking for a way to breach systems, steal from customers or cleanse sullied funds through an institution. The reason she is so well-versed: she has devoted nearly 30 years of her career to developing […]
Fincrime Career Tips and Tricks: Keys to breaking into, conquering compliance field – highlight your ‘attitude and aptitude,’ be inquisitive, expansive in hunt for broad knowledge, in-demand skills
The Skinny: In this initiative, ACFCS is engaging the fincrime compliance community for wisdom and practical insights on how to enter and rise in a fulfilling but demanding and everchanging field. For this tip, we travel to Australia, to see through the eyes of Luke Raven, the Senior AML Compliance Manager at virtual value exchange […]
Enforcement Spotlight: With AML fine against CEO, OCC completes rare C-suite Sweep at Rabobank with prior penalties against CCO, general counsel
The Skinny: The country’s top regulator has completed a rare C-suite sweep of top officials at the U.S. operations of a Netherlands-based bank, doling out individual monetary penalties against a former chief compliance officer, former general counsel and, in a just-announced action, the former chief executive. The U.S. Treasury’s Office of the Comptroller of the […]
ACFCS Member Spotlight: For Sayari’s Jessica Abell, unasked question leads to quest to better uncover illicit finance by bridging divide between investigations, intelligence, rising data capacity vs. enduring corporate opacity
The Skinny: For Jessica Abell, the irony doesn’t escape her that her career thus far has been a quest to answer the question: are certain actions, transactions and reactions to geopolitical power dynamics by a given entity a threat to national security. She is the Vice President of Solutions at Sayari, where she leads […]
FVW Snapshot: In flurry of fraud, synthetic IDs rising, swarming from digital data graveyard
In this picture, a synthetic identity bursts open, revealing its true evil form: a zombie in disguise hungering for monetary sustenance. The Skinny: A cornucopia of fraud themes, schemes and scams are exploding across the world – particularly from foreigners targeting countries like the United States – and more often than not, when fraudsters try […]
ACFCS Member Spotlight: For PwC’s Vikas Agarwal, advice to ‘choose the harder right than easier wrong’ has fueled convergent stratagem, drive to master AML tech, training, auditing, data divination, cyber disciplines
The Skinny: For Vikas Agarwal, even decades ago, he seemed predestined to become a fincrime fighter and compliance champion – even though he didn’t know it yet. But looking back, there were early signs. A gift with numbers. At ease with deconstructing data. Being able to pull back and see what it all means. But […]
The Inside Track: In new action against bank, OFAC eschews fine in favor of teachable moment on expectations around sanctions screening timing, updates, vendor rules, roles, risks
In this picture, a storm rolls across the state of Oklahoma, just as sanctions enforcement lightning struck one of the regions largest banks. The Skinny: A new enforcement action from the sanctions arm of the U.S. government has offered rare insight into the expectations around how quickly operations must update their internal or vendor-driven screening […]
The View from the Top: Piggybacking on must-pass annual defense bill, corruption-focused ENABLERS Act targeting graft-gilt gatekeepers limps out of House
The Skinny: House lawmakers have passed a much-needed revamp of the country’s financial crime compliance defenses with a focus on graft-gilt gatekeepers, an oft-criticized vulnerability by global watchdog groups. The bipartisan Establishing New Authorities for Businesses Laundering and Enabling Risks to Security (ENABLERS) Act targets industries at the center of massive corruption and money laundering scandals, […]
The View from the Top: A new joint statement by regulators on the AML risk-based approach has brought more confusion than clarity, with some arguing certain ‘dangerous’ lines could even lead to resource retrenchment
The Skinny: A new joint statement by regulators on the endless twisting knot of the anti-money laundering risk-based approach has brought more confusion than clarity and has the sector guessing on the government’s true motives behind the cryptic message – and what new expectations lurk in the shadows. At issue: The seemingly innocuous “statement” […]