What Covid-19 Taught Us About Fraud and Money Laundering

For most of the financial crime compliance world, the past 18 months have been a long, strange trip, one marked by disruption and confusion, but also innovation and adaptation. The same has been true for financial criminals – fraudsters and money launderers adapted quickly to the pandemic reality, and continue to profit from the shift […]

Crypto Crime: A Look at What Happened in 2020

As anyone who followed the price of Bitcoin over the past year can attest, 2020 has been a wild ride for cryptocurrencies. That extends to the illicit use of crypto as well, with new trends emerging in the past twelve months, alongside variations of tried and true criminal techniques. In this episode of the Financial […]

Privacy Wallets and Crypto Crime – A Top Trend in Illicit Use of Cryptocurrencies

Crypto skeptics and crypto enthusiasts rarely see eye to eye, but both camps can agree that the pace of change in the crypto world has been rapid and remarkable. Once viewed as largely anonymous and difficult to trace, crypto transactions have become increasingly transparent as blockchain analytic tools have grown in sophistication. Crypto users seeking […]

Synthetic ID Fraud – Frankenstein and the Future

On this episode of the Financial CrimeCast, we’re exploring how to fight Frankenstein – well, Frankenstein fraud anyway, another name for the rapidly growing scourge of synthetic ID fraud. It’s not a new issue, but synthetics continue to be an immense challenge for financial institutions, responsible for tens of billions of losses. Increasingly, synthetic IDs […]

PPP Fraud: A Look Back at the CARES Act

In April of 2020, amid shutdowns and with the first wave of the COVID-19 pandemic hitting the United States, Congress passed the CARES Act authorizing the first allotment of funding for the Paycheck Protection Program, or PPP. The PPP provided funding for financial institutions to make forgivable loans to businesses large and small, to pay […]

Hemp and Commercial Banking: Risks, Opportunities, Confusion

The global industrial hemp market is projected to grow from $4.7 billion in 2019 to $26.6 billion by 2025. This represents an opportunity, but also a potential compliance headache, for financial institutions interested in servicing this space. Why a headache? As you might know, hemp comes from the cannabis plant, the same source of a […]

Inside the Lazarus Group – North Korea’s Crypto Crime and Risks to the Financial Sector

In conversation with Jonathan Levin, co-founder and Chief Strategy Officer, Chainalysis Pressured by sanctions, the government of North Korea has turned to an unexpected outlet to generate funds and move money – Cryptocurrency crime. Cyber threat groups tied to North Korea, have targeted cryptocurrency exchanges in recent years, with considerable success. Last August, a UN […]

Crypto and the Legacy Financial Sector – One World or Worlds Apart?

Presented by BAE Systems Applied Intelligence By now, most in the financial crime compliance space (though certainly not all) have accepted that cryptocurrencies are not a passing fad or a scam but are here for the long haul. That doesn’t mean they know exactly what to make of this brave new world of digital assets, […]

Financial CrimeCast – FinCrime Focus on Asia-Pacific, Part Two

Hear guidance on data management in sanctions risk, cryptocurrencies in the APAC region, AI and machine learning adoption, and changing regulatory expectations. Listen to Part One here. In the second half of this special two-part podcast series, Steven Scheurmann takes you across the Asia-Pacific (APAC) region to provide insights and highlights on key considerations in […]

Financial CrimeCast – FinCrime Focus on Asia-Pacific, Part One

Hear guidance on North Korea sanctions risk, AML enforcement perspectives, and real-time payments The Asia-Pacific (APAC) region, home to approximately 60% of the world’s population, is a burgeoning area full of innovation in financial technologies, nations with bustling economies, and growing populations. Yet accompanying these trends is inevitable financial crime risk, including trends and issues […]

Financial CrimeCast: KYC Transformation – From Dream to Reality, Part One

Part 1 of a two-part series examining KYC transformation through automation, in conversation with Dalbir Sahota, VP of Bankers Almanac: Financial Counterparty KYC with Accuity. Listen to Part 2 here. KYC starts with a question that’s seemingly quite simple – Who is my customer? Yet as anyone in the compliance field knows, the devil’s in […]