The U.S. financial industry is in its 5th year of filing “marijuana” Suspicious Activity Reports (SARs) pursuant to guidance issued […]
Category: RegTech
Professional Money Launderers – FATF Guidance and a US criminal case
FATF’s report on Professional Money Launderers is a must read. The public version of the report was released on July […]
OCC announces Special Purpose National Bank charters for qualifying FinTechs
This has been a number of years in the making (going back to December 2016) and is a good first […]
Richards AML Scenario Builder© – as relevant today as it was in 1999
Richards AML Scenario Builder ©
Marijuana Looping & Cash Structuring – the Sweet Leaf decision reveals a glaring weakness in states’ controls over their retail marijuana regimes
County of Denver v Sweet Leaf Final Decision 7-5-18 On July 5th the City/County of Denver revoked all 26 marijuana […]
Russian Military Officers Indicted – DC District Court, case 18CR00215
Count 1 of the indictment of the 12 Russian GRU officers (conspiracy to commit an offense against the United States) […]
Real News: 600+ indicted … $2 billion in fraud … where is the national media attention?
A review of both Bing and Google News suggests that none of the major national news services ran a story […]
FinCEN’s Marijuana SAR Update …
FinCEN doesn’t seem keen on publicizing these updates … and the media doesn’t seem keen to pick them up. But […]
Finally! A blockchain explanation that makes sense!
https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/blockchain-beyond-the-hype-what-is-the-strategic-business-value?cid=other-eml-alt-mip-mck-oth-1806&hlkid=d2c58d1171ab41a8a16e22859260e7cf&hctky=10239825&hdpid=6a0817ff-c71d-4a97-be68-b9b733f3d39f accessed June 20, 2018 “Blockchain is a distributed ledger, or database, shared across a public or private computing network. […]
Subject Matter Experts vs. Subject Matter Enthusiasts
Like most industries, the financial crimes risk management industry is rank with jargon, axioms, and hackneyed phrases we all toss […]