Jim Richards

Jim Richards (Chapter Advisor) is the Principal and Founder of RegTech Consulting, a private consultancy aimed at developing the next generation of BSA/AML and financial crimes professionals, technologies, and programs. Prior to founding RegTech Consulting, James worked for over 10 years as the BSA Officer, Global Head of Financial Crimes Risk Management at Wells Fargo & Co where he was responsible for governance and program oversight of Bank Secrecy Act and AML for Wells Fargo’s global operations. He was also a Member of the Wells Fargo Management Committee and Enterprise Risk Management Committee and represented Wells Fargo with the Bank Secrecy Act Advisory Group (BSAAG), US Department of the Treasury. From 2004-2005, James also served as the Global Anti-Money Laundering Operations Executive for Bank of America where he was responsible for the operational aspects of Bank of America’s global anti-money laundering and terrorist financing prevention monitoring, surveillance, investigations and related SAR reporting. James also represented Bank of America with the BSAAG. Other experience of note includes: BSA Officer and Director of the Financial Intelligence Unit (FIU) at FleetBoston Financial Group where James was responsible for all terrorist financing and money laundering investigations and related SAR filings for domestic and international bank and non-bank subsidiaries of FleetBoston Financial. The FIU included the Credit Due Diligence Review Group, responsible for conducting all front-end due diligence reviews, back-end work-out assistance, and ongoing transactional monitoring for all non-scored credit relationships. James represented FleetBoston with the BSAAG. James was a founding member of the Association of Certified Anti—Money Laundering Specialists (ACAMS) Advisory Board. In May 2004, he provided written and oral testimony on behalf of Bank of America before the House Financial Services Subcommittee on Oversight and Investigations: “Improving Financial Oversight: A Private Sector View of Anti-Money Laundering Efforts” (May 18, 2004). He is also the Author of: “Transnational Criminal Organizations, Cybercrime, and Money Laundering” (CRC Press, New York, London, Boca Raton, ISBN 0-8493-2806-3), published in October, 1998. James also spent 5 years serving as Assistant District Attorney, Special Investigations Unit at the Middlesex County District Attorney’s Office in Cambridge, MA.The Special Investigations Unit (SIU) was responsible for the investigation and prosecution of narcotics, organized crime, white-collar crime, and economic crime in Middlesex County, the largest county in Massachusetts. Investigations and prosecutions included felony embezzlement, attorney fraud, public corruption, computer-based larceny, gambling, money laundering, and organized gambling cases. Supervisor of the SIU’s Narcotics Forfeiture Group, with carriage of and supervision over the Group’s civil and criminal forfeiture caseload.