A call to action for all US financial institutions! On May 7, 2019, FinCEN published a “Notice and Request for […]
Author: Jim Richards
44% of UK Solicitors Tested Are Not Meeting ML/TF Regulatory Requirements – but Unlike Their American Counterparts, At Least They Have Regulatory Requirements
A review by the UK’s Solicitors Regulation Authority (SRA) results in 44% of solicitor firms tested will be subject to […]
Regulators Testify on BSA/AML
Sed quis custodiet ipsos Custodes But who will guard the guards themselves? – Roman poet and satirist Juvenal, c. 100 […]
The Plaintiffs Trump v Democrat-controlled House Committees’ Subpoenas
One key question – do the Committees’ investigations have a valid legislative purpose? – brings Anti-Money Laundering investigations and legislation […]
FinCEN’s Advisories and Guidance – “Persuasive Precedential Effect”, Whatever That Means
US-based AML practitioners are familiar with FinCEN Guidance and Advisories. Most are probably not sure what the differences are between […]
FINRA’s list of AML Red Flags has gone from 25 to 97
FINRA Provides Guidance to Firms Regarding Suspicious Activity Monitoring and Reporting Obligations http://www.finra.org/sites/default/files/notice_doc_file_ref/Regulatory-Notice-19-18.pdf May 9, 2019 FINRA issued the Notice […]
DeepDotWeb – a Major Gateway to Darknet Marketplaces Shut Down
“single most significant law enforcement disruption of the Darknet to date” DeepDotWeb administrators led hundreds of thousands of users to […]
AG Sessions: “No more guidance!” AG Barr: “Here’s new guidance!”
Does “good faith” mean “effective”? On November 17, 2017 the DOJ issued a press release titled “Attorney General Jeff Sessions […]
The “Ice Cream Social” Bandit – Former Bank Cash Vault Manager Stole $4.3 Million
Former Bank Cash Vault Manager Sentenced to 10 Years in Federal Prison for Stealing over $4 Million – Case Reveals […]
Elvis, Donald Duck, Bittrex, and New York’s “Safe Harbor” for Crypto Exchanges
“… examiners found that a substantial number of aliases (e.g., Give Me My Money, Elvis Presley, abc-abc, Donald Duck, and […]