Working Together to Fight Transnational Financial Crime

The transnational nature of criminal networks, cross-border financial flows, and sometimes the international nature of crimes themselves, mean a unified response between the public, private sector, and “third sector” is critical. This article uses the example of human trafficking to identify the capabilities of each sector and how they can achieve the greatest effect by working together.

The Convergence of Sanctions & AML

The convergence of sanctions and anti-money laundering efforts has significantly accelerated since Russia’s full-scale invasion of Ukraine in February 2022. FINTRAC in June 2024 released a special bulletin focusing on financial activity associated with suspected sanctions evasion. The report highlighted shared methodologies and insights to help compliance teams collaborate on best practices.

Three Lines of Defense: Case Study

The “three lines of defense” model is a widely recognized approach for effectively managing financial crime and regulatory risk. But how does it work in practice? This article explores how the three lines of defense applies using client due diligence as a real-life case study.

Targeting Russia’s IT Dependencies

Delve into the recent determination issued by OFAC, which imposes significant additional restrictions on the provision to Russia of IT consultancy and design services as well as IT support and cloud-based services of enterprise management and design and manufacturing software. Multinational tech corporations, financial institutions, and other companies still operating in Russia will likely require licenses to continue operating there.

Crypto Under the Microscope

In the fast-evolving digital assets market, compliance is not just a regulatory requirement—it's a strategic imperative. From Binance's multi-billion-dollar settlement to the dramatic collapse of FTX, recent enforcement actions have sent shockwaves through the industry, underscoring the critical need for a robust compliance system.

Three Lines of Defense

The “three lines of defense” is a well-established model for implementing an organizational structure to effectively manage financial crime risk and regulatory compliance. Explore the three lines of defense, their responsibilities and the advantages of the three line model in this article.

Understanding and Addressing Fraud and Corruption Risks

In our recent webinar, industry experts delved into the crucial topic of fraud and corruption risks. From seasoned professionals to anti-corruption activists, the webinar featured a panel of distinguished speakers: Steve Burgess, Nikki Kenyon, Chris Williams, and James Wasserstrom. This blog post aims to summarize the key points discussed during the session, equipping readers with the knowledge necessary to navigate these risks effectively.