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Author: Jim Richards

February 26, 2020February 27, 2020

The Roger Stone Case – The Shenanigans Continue

General Business, Risk, and Life by Jim Richards0 comments

Federal Court concludes that Roger Stone’s lawyers’ motion to disqualify Judge Amy Berman-Jackson is “nothing more than an attempt to […]

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February 13, 2020

Lack of Beneficial Ownership Information: a “Glaring Hole in our System” Says Treasury Secretary

AML Regulations and Enforcement Actions by Jim Richards0 comments

On February 12, 2020, Treasury Secretary Mnuchin testified before the Senate Finance Committee on the President’s Fiscal Year 2021 budget. […]

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February 12, 2020February 12, 2020

The Roger Stone Case – Whether Outraged or Relieved, At Least Be Informed

General Business, Risk, and Life by Jim Richards0 comments

“A good deal of hysteria, some of it reflexive, much of it recreational” The media, social media, politicians, and pundits […]

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February 10, 2020February 10, 2020

Chinese Money Brokers – The First US Case Involving An Identified Threat to the US Financial System?

Money Laundering & Terrorist Financing - General by Jim Richards0 comments

February 6, 2020 – US Warns of Chinese Money Brokers Integrating Illicit Cash Proceeds through Trade Based Money Laundering, or […]

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February 5, 2020February 5, 2020

OCC Comptroller Talks About AML “False Negatives” and Technology

AML Regulations and Enforcement Actions by Jim Richards0 comments

Whether “False Negatives” or “False Positives”, the Answer May Not Lie Just in New or Improved Technologies, but in an […]

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February 4, 2020

Colorado’s Roadmap to Cannabis Banking – A Roadmap Without a Destination

Cannabis/Marijuana by Jim Richards0 comments

Kudos to all of those involved in this effort in Colorado, but I’m not sure how this advances the effort […]

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January 31, 2020February 24, 2020

PETITION DENIED – The US Supreme Court Defends the SAR Safe Harbor!

AML Regulations and Enforcement Actions by Jim Richards0 comments

Updated February 24, 2020 – The US Supreme Court denied a petition that challenged the SAR Safe Harbor On September […]

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January 8, 2020January 8, 2020

Proceeds of Crime and GDP – Are We Comparing Apples to Oranges?

AML Regulations and Enforcement Actions by Jim Richards0 comments

The Estimate for US Money Laundering – $300 billion a year, or 2% of GDP The 2015 National Money Laundering […]

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January 7, 2020

FinCEN’s BSA Value Project is A Year Old … How Is It Going?

FinTech, Financial Crimes, and Risk Management by Jim Richards0 comments

In January 2019, FinCEN launched its “BSA Value Project” – an effort to “catalogue the value of BSA reporting across […]

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November 21, 2019November 21, 2019

Like Sam Loves Free Fried Chicken, Law Enforcement Loves “Free” Suspicious Activity Reports … But What If Law Enforcement Had to Earn the Right to Use the Private Sector’s “Free” SARs?

AML Regulations and Enforcement Actions by Jim Richards0 comments

“Well, I’m here in the freezing cold getting’ free chicken sandwiches. Because the food tastes great. I mean, it’s chicken. […]

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  • Richards Comments on Proposed Beneficial Ownership Access Rule – December 2022
  • BSA, Bittner, and FBARs – Forty Questions from The Supremes
  • Beneficial Ownership Database – Now That We Know What Goes In, Let’s Turn to What Will Come Out
  • Beneficial Ownership Information Reporting – Will it Reduce Financial Crimes?
  • BSA/AML Policies and Procedures – What Can We Learn From Mary Berra and the Founding Fathers?

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