Entries by Lauren Jack

The New Counter-Illicit Finance Regime

The convergence of AML/CFT and sanctions regimes has led to a paradigm shift. These disciplines may now be viewed as overlapping parts of a broader global counter-illicit finance regime.

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.

Tech vs. Corruption

As corruption continues to pose significant challenges across various sectors, including government agencies, traditional banking institutions, and designated non-financial businesses and professionals (DNFBPs), innovative technological solutions are proving to be essential in combating these issues. This article highlights how blockchain, AI, and data analytics are revolutionizing the fight against corruption.

Types of Sanctions – A Vast and Varying Landscape

In the United States, most sanctions programs combine multiple types of designations that vary across multiple dimensions. U.S. designations are constantly changing, and more individuals, entities, vessels, and aircraft are being added to OFAC’s sanctions list. Explore the five primary types of sanctions in our latest article.

Upholding Integrity — Obligations in Combating Corruption and Bribery

Bribery and corruption represent a critical nexus where ethics, governance, and societal values intersect. These issues have long been a stain on both public and private sectors, creating distrust and distorting fair competition. International bodies and conventions typically define public sector corruption as the abuse of public office or a position of public trust for private gain. Explore a recent case study and how organizations can protect against corruption.

Russian Use of Crypto for Sanctions Evasion on the Rise

Experts agree there isn’t enough liquidity in the virtual assets space to enable largescale sanctions evasion by Moscow, but sanctioned individuals and entities have used virtual currencies—most notably Tether—to access the global financial system and pay for restricted goods and technologies. Explore recent designations, how cryptocurrencies and other virtual assets are being leveraged to facilitate evasion as well as risk mitigation strategies for financial institutions in our latest article.

AI in Crypto Security: Navigating the Dual Edges of Innovation and Vulnerability

As cryptocurrencies gain mainstream acceptance, they also become a new frontier for financial crimes, including money laundering, fraud, and the financing of terrorism. Amidst this burgeoning digital economy, AI emerges as both a beacon of hope to help prevent crimes and a potential threat, giving illicit actors additional resources to move proceeds of crime. The dual nature of AI in combating or facilitating crypto-related financial crimes presents a complex puzzle: Is AI a harbinger of risk or the ultimate solution to mitigate it in this digital age of ambiguity? 

Fake News vs. Real News – The Importance of Media in Due Diligence

We exist in an age when mass media outlets are criticized for bias and manipulation, and when foreign disinformation efforts further erode trust in traditional journalism. Confidence in media reports not just as a compliance tool, but also as reliable news sources is likely at near record lows as well. However, adverse media reports are a critical compliance tool that can serve as a springboard for more extensive due diligence research and can help identify potential indicators of sanctions evasion and other financial crimes.