Financial Crime

U.S. Treasury Virtual Currency Guidance Could Set New Global Standard, Experts Say

A virtual currency guidance and advisory issued by the U.S. Treasury Department's anti-money laundering (AML) unit issued last week clarified regulatory expectations, riled some cryptocurrency…

Brett Wolf June 04, 2019

Forum Magazine: Financial Institutions Are at the Center of the Fight Against Human Trafficking

Approximately 40.3 million people live in some form of modern, human slavery. No, this isn’t a statistic from centuries ago or even 100 years ago.…

Gina Jurva May 23, 2019

UK’s FCA Turns Up the Heat on Wholesale Brokers over Compliance & Culture

Despite not being known as bastions of best practice for compliance, conduct, or culture, wholesale brokers in the United Kingdom have avoided the wrath of…

Rachel Wolcott May 10, 2019

7 Questions about Threat Organizations, Fraud & Money Laundering

The odd thing about money laundering is that it requires that you have money in the first place. Often, these laundered funds come from illicit…

Gina Jurva May 09, 2019

Weeding Out Bad Doctors: Preventing Healthcare Provider Fraud in Medicare & Medicaid

As our nation’s healthcare costs continue to go up and the government’s costs paid for programs such as Medicare or Medicaid continue to increase apace,…

Gina Jurva May 01, 2019

Combating Identity Fraud in Government Vendor On-Boarding & Personal Identities

Governments can and do fall victim to fraud just like businesses and persons. One growing way this is happening is through government vendor fraud. Government…

Gina Jurva April 29, 2019

Suspicious Activity Report Leaks: Cohen, Manafort & Why It Matters

In July 2007, North Fork Bank filed a Suspicious Activity Report (SAR) regarding the conduct and transactions of then-New York Governor Eliot Spitzer. As the…

Michael Schidlow April 26, 2019

U.S. Banks Cite Mixed Results in First Round of Beneficial Ownership Rule Exams

MIAMI — It has been nearly a year since regulators began examining banks for compliance with the U.S. Treasury Department's customer due-diligence and beneficial-ownership rule,…

Brett Wolf April 25, 2019

EXCLUSIVE: Updated U.S. Anti-Money Laundering Examination Manual Expected in Mid-2019

HOLLYWOOD, Fla. — A long-awaited update to the U.S. anti-money laundering (AML) regulatory examination manual is expected in the coming months, according to Joseph Otting,…

Brett Wolf April 22, 2019

Beyond Robert Kraft: Utilizing Public Records Data to Stop Sex Trafficking in Illicit Massage Businesses

By now you’ve likely heard about Robert Kraft, the 77-year-old billionaire owner of the New England Patriots, who allegedly paid for sex in late January at…

Gina Jurva April 17, 2019

New Podcast: How Customer Risk Scoring Can Help Banks Protect Themselves Against Fraud

In a new podcast, we feature industry experts Amanda DuPont, an investigative research specialist and speaker with Thomson Reuters, and Catherine Banks, a compliance, risk,…

Legal Executive Institute April 09, 2019

Relief Not Arrests: Strengthening Laws for Survivors of Human Trafficking

Logically, survivors of human trafficking should not be punished for activities they were forced to commit by a trafficker. Yet it is common for survivors…

Legal Executive Institute April 03, 2019