AML Conversations

In this episode of This Week in AML, Elliot Berman and Joe McNamara cover a wide range of global financial crime compliance updates. Topics include the U.S. Treasury’s initiative to simplify SAR filings, BIS entity list implications, FINTRAC’s new ID verification rules for Canadian real estate, and Russia’s barter-based sanctions evasion. The hosts also discuss crypto regulation developments in the UK and Malta, Swiss AML reforms, underground banking trends, and AUSTRAC’s efforts to combat child exploitation.

In this week’s episode of This Week in AML, Elliot Berman and John Byrne unpack the latest regulatory developments. They begin with FinCEN Director Andrea Gacki’s recent testimony before the House Financial Services Committee, highlighting key takeaways on beneficial ownership data, SAR/CTR streamlining, and real estate’s role in money laundering. The conversation then shifts to new FinCEN guidance on geographically targeted MSB reporting and financially motivated sextortion. John and Elliot also dive into the OCC’s controversial statements on SARs and debanking. On the international front, they explore new Wolfsberg Group guidance on stablecoin issuers, FATF’s collaboration with Interpol, and Transparency International UK’s push for beneficial ownership transparency in offshore financial centers.

In this episode of AML Conversations, John Byrne speaks with Ashleigh Subramanian-Montgomery, Acting Director of the Charity & Security Network, about the complex intersection of counterterrorism policy, financial regulation, and humanitarian work. They explore the implications of recent sanctions changes in Syria, the unintended consequences of FATF Recommendation 8, and the challenges posed by de-risking and debanking practices. Ashleigh shares insights on the gendered and societal impacts of sanctions, the limitations of FATF’s new reporting mechanism, and the devastating effects of foreign aid cuts. The conversation closes with a hopeful look at cross-sector collaboration and donor engagement in support of civil society.

In this week’s episode of This Week in AML, Elliot Berman and John Byrne cover a wide range of breaking developments in the financial crime compliance space. From congressional scrutiny of Jeffrey Epstein’s financial records and FinCEN’s website overhaul to the DOJ’s seizure of fraudulent ID marketplaces, the conversation highlights the growing intersection of policy, enforcement, and technology. They also explore FATF’s new National Risk Assessment Toolkit, the UK’s sharp rise in fraud prosecutions, and the landmark “Failure to Prevent Fraud” offense now in effect. Plus, updates on FINTRAC’s enforcement actions in Canada, and FinCEN’s advisory on Chinese money laundering networks.

In this episode of AML Conversations, John Byrne sits down with Lisa Arquette, recently retired Deputy Director of Operational Risk at the FDIC, to reflect on her decades-long career in financial regulation. From the oil crisis in Texas to the 2008 financial meltdown and the evolving challenges of AML, sanctions, and fraud, Lisa shares her unique perspective on how banking has transformed—and what lies ahead. The conversation covers the Corporate Transparency Act, reputational risk, humanitarian banking access, and the implications of recent executive orders on fair banking. A must-listen for professionals navigating the intersection of compliance, policy, and innovation.

Elliot Berman and John Byrne return with a global roundup of AML developments. They begin with reflections on the Wolfsberg Group’s latest guidance on suspicious activity monitoring, emphasizing innovation and model validation. The Basel Institute’s working paper on collective anti-corruption action highlights the importance of multi-stakeholder collaboration. The episode also covers a UK report forecasting a surge in synthetic identity fraud, a Ponzi scheme involving fake AI investment tools, and a comprehensive look at the evolving stablecoin landscape. Canada’s 2025 national risk assessment is discussed, with insights into NPO risks, fraud trends, and the country’s role in global trade. Additional topics include a local elder fraud case in Wisconsin, a Dutch bank’s challenge to an AI-related AML fine, and upcoming AML webinars and interviews. The hosts close with a tribute to workers ahead of Labor Day and a reminder of the importance of vigilance in financial crime prevention.

In this episode of AML Conversations, John Byrne sits down with Bob Simpson, founder of Daylight AML, to explore the often-overlooked world of mortgage fraud and its intersection with anti-money laundering (AML) efforts. Simpson shares insights from decades of investigative experience, highlighting typologies such as occupancy misrepresentation, cash purchases, and property flipping as vehicles for laundering illicit funds. The discussion also covers the impact of recent regulatory changes, including the rollback of beneficial ownership requirements under the Corporate Transparency Act, and the implications for financial institutions. Simpson and Byrne also examine the global FATF evaluation process, the risks of gray listing, and the transformative role of AI in fraud detection and compliance.

In this episode of This Week in AML, Elliot Berman and John Byrne cover a wide range of pressing global and domestic issues shaping the financial crime prevention landscape. From the humanitarian toll of economic sanctions and corruption risks in Ukraine’s reconstruction, to Australia’s cybercrime trends and the evolving U.S. stablecoin regulatory framework, the conversation dives deep into the intersection of policy, technology, and ethics. They also discuss the controversial “debanking” executive order, the phasing out of federal paper checks, and the disturbing rise of sextortion scams linked to Southeast Asian fraud compounds.

In this episode, John Byrne and Elliot Berman unpack a series of significant developments in banking, compliance, and enforcement. They begin with the White House’s new executive order on “Guaranteeing Fair Banking for All Americans,” which aims to prevent what some call “debanking.” While positioned as a fairness measure, John and Elliot warn that it could weaken banks’ ability to make independent, risk-based decisions, potentially increasing white-collar crime exposure. They note concerns over the subjective nature of risk scoring and parallels to the 2008–2010 financial crisis. Next, they spotlight the IRS-CI “CI-FIRST” program, a collaborative effort between financial institutions and the IRS’s Criminal Investigation division to improve information sharing and streamline financial record requests. The recent CI-FIRST Executive Forum in Washington is seen as a model for effective public-private partnerships in combating financial crime. The discussion then turns to enforcement actions: Paxos Trust Company will pay $26.5 million to New York regulators for failing to properly vet Binance and for systemic AML program weaknesses, alongside a $22 million investment in compliance upgrades. The DOJ issued its first corporate FCPA action since resuming enforcement, with Liberty Mutual paying $4.7 million to resolve bribery allegations involving Indian state-owned banks. Do Kwon, co-founder of Terraform Labs, pled guilty to wire fraud and conspiracy, tied to the $40 billion collapse of Terra USD and Luna, with a $19 million penalty and possible 12-year sentence. They also cover a Senate minority report critical of the administration’s approach to Russian sanctions, arguing it undermines Ukraine’s leverage and lacks consistent enforcement. The FACT Coalition emphasizes the need for tools like the Corporate Transparency Act to bolster sanctions’ effectiveness. On the policy front, they discuss delays and staffing cuts affecting the State Department’s annual human rights report and the pending trafficking in persons report—both key references for global human rights and anti-trafficking efforts.

Shelby Katona has spent over a decade at AML RightSource leading complex investigations across alternative investment banks, traditional financial institutions, crypto platforms, and fintech companies. This diverse experience has positioned her and her team as specialists in one of the most critical—and challenging—areas of financial crime: human trafficking detection and prevention. In this conversation, Shelby reveals how FIs, MSBs, and other entities can identify the subtle patterns that expose trafficking networks, sharing real-world insights from her work helping clients build sophisticated detection programs. She'll explore the evolving tactics traffickers use to move money, the connected predicate crimes that often surface alongside trafficking cases, and the practical steps compliance teams can take to strengthen their defenses against these operations. From recognizing transaction red flags to building comprehensive monitoring frameworks, Shelby offers a practitioner's perspective on combating one of today's most devastating crimes through financial intelligence.

In this week's TWIA episode, John Byrne and Joe McNamara cover critical developments in financial crimes prevention across multiple jurisdictions. Cultural Racketeering Crisis Insights from a recent Atlantic Council program reveal Russia's systematic assault on Ukraine's cultural heritage: 200 million books destroyed, 35,000 artifacts stolen, and 2 million artifacts lost. Russian museum officials are personally complicit, prompting President Zelenskyy to issue sanctions against museum directors. Experts highlight AI's growing role in tracking stolen cultural property. Regulatory Updates FinCEN delays the investment advisor AML rule until 2028, citing deregulatory priorities despite acknowledging ongoing illicit finance risks. The President's working group releases digital asset market recommendations, while FinCEN warns about crypto kiosks being used for scams targeting older adults. International Developments The IMF's Canada financial stability assessment raises concerns about banking oversight gaps. New UK guidance addresses Russian sanctions evasion, while a British solicitor faces fines for AML failures in an Azerbaijan-linked property deal, highlighting ongoing gatekeeper compliance debates. The De-Banking Controversy Analysis of the proposed executive order targeting banks for alleged political discrimination. John Byrne challenges "Operation Choke Point 2.0" claims, emphasizing that banks make legitimate risk-based decisions considering credit worthiness and regulatory requirements. Discussion includes potential implications for suspicious activity reporting. Additional Coverage John Oliver's examination of deferred prosecution agreements in corporate crime cases provides context on this controversial prosecutorial tool's AML applications.

Synthetic identity fraud is on the rise, and it’s more complex and dangerous than ever. In this episode, host Elliot Berman is joined by Amy Petric, Ross Yellon, and Adam Gunselman to break down how synthetic IDs are created, where they’re being used, and why they’re so hard to detect. You’ll hear real-world examples of fraud in credit cards, auto loans, and fintech platforms, along with insights into the tools and strategies financial institutions are using to fight back. From AI-generated IDs to dark web data and bust-out fraud, this conversation sheds light on the evolving tactics of fraudsters and the critical role of both technology and human oversight in stopping them.

In this episode of our special series on payment fraud, Elliot Berman is joined by Nikki Siko, Adrianna Wolfe, and Patrick Haney to explore the evolving landscape of financial fraud. From the surprising resurgence of check fraud to the rise of ACH scams, push payment fraud, and social engineering tactics, this conversation dives deep into the methods fraudsters use—and how financial institutions are fighting back. You’ll hear real-world examples, insights into fraud detection through monitoring and investigations, and the growing importance of customer education and interdepartmental collaboration. Whether you're in compliance, fraud prevention, or just curious about how these schemes unfold, this episode offers a clear-eyed look at the challenges and strategies shaping the future of fraud prevention.

In this week's episode, Joe McNamara and John Byrne examine significant shifts in the regulatory landscape, starting with a tribute to compliance leader Anna Rentschler. They dive into concerning changes to FCPA enforcement guidance that critics say abandons universal ethical standards, the OCC's unusual LinkedIn post signaling increased risk tolerance for banks, and growing threats to the Corporate Transparency Act. The discussion moves internationally to cover the UK's crypto asset sanctions compliance findings, the EU's latest money laundering risk assessment highlighting fintech vulnerabilities, and an FBI advisory on the Scattered Spider cybercriminal group.

David Tyree, Senior Advisor for Financial Crime Detection and AML for Valid 8, shares his views on the most essential ways to utilize bank data gleaned from his decades at DEA to his current work.

This week, John Byrne and Joe McNamara discuss Treasury's decision to postpone the investment advisor AML rule from 2026 to 2028 and reopen the comment process, drawing criticism from anti-corruption groups who warn it sends the wrong signal during the US's ongoing FATF evaluation. The hosts review Chainalysis's midyear crypto crime report showing $2.17 billion already stolen in 2025, with North Korea's $1.5 billion Bybit hack representing the largest single cryptocurrency theft in history. They also examine the newly signed GENIUS Act on stablecoins and its upcoming regulatory requirements. International developments include Russian universities offering Kremlin-backed master's programs in sanctions evasion and the EU's toughest sanctions package in years, which lowers the Russian oil price cap to $48 per barrel. The episode concludes with updates from the Wolfsburg Group on risk-based approaches and previews upcoming webinars on AI in compliance and fraud prevention.

In this episode, Elliot Berman and John Byrne discuss the U.S. legislative gridlock around crypto regulation during “Crypto Week” and the Senate’s bipartisan recognition of the need for a crypto market structure. The conversation also highlights the Basel Institute’s 2024 report, a GAO study on organized fraud in federal programs, and troubling staffing cuts at the State Department’s anti-trafficking and counterterrorism offices. They also examine enforcement actions against Wise and other issues affecting the financial crime prevention community.

In this episode, Elliot Berman and John Byrne dive into the latest developments in global financial crime compliance. They unpack the FATF’s new report on terrorist financing, explore upcoming U.S. legislation on cryptocurrency and stablecoins, and discuss AUSTRAC’s expanded AML/CTF regulations in Australia. The conversation also covers the FCA’s updated guidance on politically exposed persons (PEPs) and enforcement actions against digital banks like Monzo, and other issues affecting the financial crime prevention community.

In this episode, Elliot Berman and Jeff Fischer delve into how financial institutions can modernize their risk assessment practices by integrating fraud and AML considerations, responding to regulatory change, and leveraging data more effectively. They discuss the importance of aligning assessments with organizational risk appetite, embracing technology and automation, and adopting a dynamic, proactive approach to risk monitoring. From targeted product assessments to continuous dashboards, this conversation outlines how to streamline complexity while maintaining robust risk intelligence.

In this episode of This Week in AML, Elliot Berman is joined by Joe McNamara to unpack efforts across North America to combat fentanyl trafficking—including Treasury’s designation of Mexican financial institutions and Canada’s new FinTRAC intelligence unit, FATF’s latest update on virtual assets and VASPs, he OCC’s report on key risks in the federal banking system, FinCEN’s change on TIN collection under the CIP rule, and other issues affecting the financial crime prevention community.