Moody’s Talks: Risk Reframed

The creation of the AMLA, the authority on money laundering in the European Union, is imminently upon us. And the critical question compliance professionals are wondering is: where will it live? Choosing an EU city to be the representative of 26 different cultures most certainly has needed careful thought and planning. The official location choice is set to be announced February 22, 2024, in the meantime we check in with Francis Marinier, Moody’s Analytics Financial Crime and Compliance Industry Practice Lead, to discuss his predictions.Follow along to hear more about:What the AMLA is and why it was formedWhy cities would want to be home to the AMLAWhat the European Parliament must consider when selecting a locationPros and cons of potential host cities such as Frankfurt, Madrid, Paris, and DublinFor more information, visit the AML Intelligence website, where you can also check back in on February 22 for the final decision. To find out how Moody’s Analytics AML solutions can help your organization, please visit our website and get in touch. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Much has changed since we last visited the US Corporate Transparency Act (CTA) in March of 2023 on KYC Decoded. Now that FinCEN has officially rolled out its beneficial ownership database, what is the lay of the land for risk and compliance professionals? In this episode, we welcome back Jim Richards, former BSA officer, author, speaker, and CEO of RegTech Consulting to share his thoughts on where we are now, where there is room for improvement, and just how useful this database will be when combatting financial crime.Key highlights of this educational discussion include:Jim’s time testifying before US congress in June of 2023The current limitations around access to the databaseThe types of organizations that are exempt from the databaseThe level of threat the database poses – or doesn’t pose – to financial criminals in both the short term and longer termSuggestions on how FinCEN should move forwardIf you would like to find out more about the work Jim Richards does or the CTA, please check out our recommended resources:Jim Richards’s personal blogFinCEN Beneficial Ownership InformationMoody’s content on Ultimate Beneficial OwnershipIf you are looking for deeper insight into who you are doing business with, learn more on our website and feel free to get in touch. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

There are plenty of shell companies formed for legitimate reasons. However, as recently uncovered in a major case in Singapore where 3 billion SGD of assets were frozen, shell companies can also be used for more nefarious purposes. This risk is not always easy to spot, especially when relying on manual, time-invasive processes.In this episode KYC Decoded, host Alex Pillow welcomes Moody’s Analytics Product Manager, Kate Weymouth, and Head of the Financial Crime Practice Group for APAC and the Middle East, Choon Hong Chua.Their dynamic and educational conversation around shell companies and their risks includes:Legitimate reasons for shell companies vs. illegitimate reasonsThe seven primary indicators of shell company riskA deeper look into the recent Singapore shell company scamHow Moody’s Shell Company Indicator automates traditionally manual and time consuming processes with powerful dataFor additional resources mentioned in this conversation, be sure to check out:FATF paper ‘Best Practices on Beneficial Ownership for Legal Persons’FATF paper, ‘Concealment of Beneficial Ownership’Monetary Authority of Singapore (MAS), ‘Effective Practices to Detect and Mitigate the Risk from Misuse of Legal Persons’‘Risky business? The seven indicators of shell company risk’ data visualizationSeven indicators of shell company risk blogIf you would like to know more about how Shell Company Indicator can better identify shell company risk in your organization, please visit our website and feel free to get in touch. We would love to hear from you. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Every year, on January 11, the US recognizes National Human Trafficking Awareness Day. Human trafficking – currently a $150 billion industry – continues to be a pervasive threat around the globe, with criminals profiting from the enslavement of other people. This brings us to the obvious question: what can anti-financial crime and risk professionals do to make this world a safer place and help put an end to this abhorrent practice?In this episode, we delve into this pressing issue with experts: Christopher Kemp, Director of Enterprise Operations at the Anti-Human Trafficking Intelligence Initiative; Chris Bagnall, Solutions Director at Quantexa; and Karim Rajwani, Head of Product at Sigma360. Their conversation sheds an important light on dealing with this crime, focusing on:The primary forms of human traffickingThe staggering scale of the problemStrategies and solutions to stop itThe role of data and technology in empowering professionals to dismantle trafficking networksImmediate, actionable steps we can implement to make a differenceTo learn more about this important topic, we encourage you to explore these additional resources:Webinar, ‘Breaking Chains with AI: Advanced Detection of Sexual Exploitation and Human Trafficking Networks’ACAMS Article of the Year, ‘Understanding Human Trafficking’ACAMS Back to the BasicsACAMS Fighting Modern Slavery and Human Trafficking courseBlog, ‘Decision Intelligence is the Key To Stopping Modern Slavery And Human Trafficking’The National Action Plan to Combat Human Trafficking (NAP)Wear Blue Day campaignPolaris websiteUN Office on Drugs and Crime Human Trafficking websiteStop the Traffik website US Department of State Understanding Human Trafficking fact sheetFreedom United websiteINTERPOL websiteGovernment of Canada Operational AlertGovernment of Canada Updated IndicatorsWeProtect Project ShadowFind other ways your organization can help combat human trafficking - visit our website - and please feel free to get in touch; we would love to hear from you. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

"Fighting financial crime" has long been a rallying cry within the AML profession, but could this way of thinking actually be doing us all a disservice? While an admirable goal for any compliance risk management program, it may actually be too limiting and overlook how the BSA Officer/MLRO role can also drive business strategy and growth.In this episode of KYC Decoded, host Alex Pillow welcomes Vic Maculaitis, 3-time board-appointed BSA officer and founder of i3strategies, a consultancy that works to modernize the financial crime risk and compliance ecosystem. This provocative and candid conversation explores:The primary responsibility of a BSA officerOutcomes over checkboxesCompensation for compliance officersHow generative AI plays into the future of the industryFor resources discussed during this episode, be sure to check out:The LinkedIn post that inspired this conversationPerspective, by i3strategiesIf you’d like to level up your compliance program, visit our website and reach out for more information. We’d love to hear from you. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Our KYC origin series has traced the journeys of our diverse acquisitions, each of which has grown into a vital part of our KYC ecosystem.But how have these distinct entities been integrated to operate as one?In the grand finale of our KYC origin series, host Alex Pillow engages with Keith Berry, the KYC General Manager at Moody’s Analytics. They explore the expansion of the KYC unit, examining its evolution to become an industry-leading solution provider that has transformed risk and compliance.They cover:The rationale for KYC and its inceptionThe challenge of aligning to one mission and visionThe ‘secret sauce’ of Moody’s Analytics KYCTransformational changes advancing the businessThe role of AI and machine learning in our product suiteThe future for KYCVisit our website for more information on KYC and compliance! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

With information on more than 472+ million entities worldwide, Orbis has become the most powerful comparable data resource on private companies. But the question isn't what happened, it's HOW?In this episode of our KYC origin series, host Alex Pillow is joined by Bureau van Dijk and and Orbis veterans, Jon Hanmer and Ted Datta who discuss the evolution of this industry-defining database and how it became an indispensable tool for understanding the global corporate landscape.Highlights from this episode include:The journey and growth of Bureau van Dijk the businessAnswering the "so what?" through the integration of data and insightDrivers stimulating the huge growth in Orbis for KYC and compliance use casesThe importance of UBO to Orbis customersInfusing Orbis into the Moody’s Analytics familyThe future of Orbis for KYC within Moody and it's impact on tools such as Shell Company Indicator and Entity Verification APIListen along and learn more about how Orbis can help you effectively manage risks and make better KYC decisions on our website. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In November 2022, the European Court of Justice (ECJ) sparked a seismic shift in the regulatory landscape with its ruling that the public should not have access to beneficial ownership registries.Join us as we delve into the ripple effects of this ruling with our guests, Maíra Martini, research and policy expert on corrupt money flows at Transparency International, and Andres Knobel, lawyer and senior researcher at the Tax Justice Network, along with host, Alex Pillow.This conversation sheds light on:Why the ruling may have came aboutThe impacts the decision had on financial crime fighters and the bad actors they pursueHow companies and KYC professionals can navigate through this new realityFor recommended resources that accompany this episode, check out:Roadmap to Effective Beneficial Ownership Transparency (REBOT)The state of play of beneficial ownership registration in 2022Reforming Global Standards on Beneficial Ownership Transparency campaign pageVisit out our website for more information on UBOs, and do not hesitate to get in touch – we’d love to hear from you. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’ve all heard rumblings about the potential bias-related risks AI can bring when models aren't properly trained or governed with plentiful, high-quality data. But, how many of us have paused to consider flipping this paradigm? Could our own bias on the subject of AI cause us to overlook how consciously-infused AI technologies could remove dangerous biases from our KYC and AML processes?In this thought-provoking conversation, host Alex Pillow discusses the topic with AI and ethics expert, Anna Nicolis, senior manager at Braithwate, who specializes in helping global institutions with risk and compliance challenges.Highlights of this episode include:A look at what the word “bias” really meansThe root causes of bias in society and within AI technologiesWhere AI has potential to help eliminate bias in the compliance lifecycleThe role humans and data play in governing AI modelsFor a deeper dive into what was discussed, check out some of these recommended resources:Association for Financial Markets in Europe (AFME) report, Artificial Intelligence: Challenges and Opportunities for ComplianceInformation on the upcoming EU AI ActFuture of Life InstituteResearch conducted by Moody’s Analytics on the attitudes, adoption, and use cases for AI in the world of risk management and compliance Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The rapid evolution and adoption of AI technologies raises questions about how it's perceived and used by professionals working in compliance and risk management.In this episode, we explore the findings from a fascinating original global study, conducted by Moody’s Analytics, that uncovers how compliance and risk management professionals see the role of AI in all its forms.Listen along as host, Alex Pillow, and Paul Nola, Partner at Context Consulting, dissect the findings and discuss the implications of those navigating the AI landscape in the world of risk and compliance.Highlights from the episode include: The origins of the studyThe importance of AI for compliance professionalSignificant and surprising findingsThe advantages and risks of using AI in complianceThe challenges of AI regulation.For additional information, register for our webinar: Navigating the AI landscape: insights from compliance and risk management leaders.If you're interested in building an AI-led compliance program, contact us to learn more about our intelligent screening solution. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In a world of tight deadlines, diverse client needs, and ever-changing regulations across jurisdictions, law firms everywhere face countless challenges to stay compliant. That's why we are thrilled to be joined by Maire-Claire Le Houerou, Client Experience Director for Risk and Compliance at the software company Intapp, and Alex Young, Senior Principal Consultant at Intapp in this episode of KYC Decoded. Their deep expertise and vibrant energy on this topic make for a compelling conversation.Here's of what was explored in this episode:How are AML checks conducted when onboarding legal clients?Does generative AI have a role now and in the future to shape compliance programs in the legal industry?What qualities and best practices in a law firm’s culture drive AML forward?What are some of the benefits of high-quality data management software?For additional resources discussed in this episode, be sure to check out:Bressler Risk BlogThe Law Society AML resourcesThe Panama Papers: Breaking the Story of How the Rich and Powerful Hide Their Money by Frederik Obermaier and Bastian ObermayerTo find out about Moody’s Analytics' AML solutions for the legal sector, please go to our website. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Feeling stressed in the workplace is a shared experience for employees in many industries. And while it's normal for jobs to involve stress, concerns about employee burnout occur when stress is persistent and begins to affect the individual at a professional, personal, physical, and/or emotional level.In this episode of KYC Decoded, we focus on the factors that lead to burnout in the compliance profession.What is burnout?What leads to compliance employee burnout?What can leaders do to address the issue?Host Alex Pillow is joined by Lisa Beth Lentini Walker, former compliance officer and current assistant general counsel of Marqeta and CEO and founder of Lumen Worldwide Endeavors, and Jill DeWitt, current Industry Practice Lead at Moody’s Analytics KYC. Their conversation raises awareness of this often overlooked problem in the compliance world.For additional resources, check out:Lisa Beth Lentini Walker’s book, Raise Your Game, Not Your VoiceLisa Beth Lentini Walker’s articles on wellbeing and stress relief in the workplace Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Every business has a unique story to share about its life-journey. In this third installment of our KYC Origin series, host Alex Pillow is joined by Henry Irish, co-founder of Passfort; and Alex Richter, Head of Passfort. Their discussion explores the SaaS RegTech solution that changed the way anti-financial crime and compliance processes were automated.Listen to find out about:The inception of PassfortAdaptation of sophisticated, complex customer onboardingHow the service adds valueWhy Passfort's acquisition came aboutAchievements and opportunities for Passfort since acquisitionThe future of the platformVisit the Moody’s Analytics KYC website for more information on how Passfort can help your business with customer onboarding and perpetual KYC. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Curious how the Moody’s Analytics KYC solution originated? Don't miss the incorporation of Kompany into the Moody’s family. The strategic acquisition of Kompany has proven a win-win opportunity. From a business concept sketched on a tennis ball (yes, a tennis ball) to real-time entity verification from government registers across the globe merged with powerful datasets.In this episode, host Alex Pillow is joined by Johanna Konrad, former COO of Kompany, now heading this line at Moody’s Analytics KYC as Managing Director; and Peter Bainbridge-Clayton, co-founder and former CTO of Kompany, who is now Senior Director for software engineering in Moody’s Analytics KYC. This important chapter in the Moody’s Analytics journey highlights:The challenges of creating a data solution when aggregating information from vastly differing jurisdictionsThe not-so-simple task of entity verificationBuilding a skilled team to tackle specialized needsThe added benefit of real-time data to keep up with rapidly evolving legislationDigitalizing onboarding processesHow the powerful integration of Kompany can continue to propel Moody’s Analytics KYC solutions going forwardFollow along, and be sure to learn more about how Kompany can help you solve the challenges of anti-money laundering compliance and KYB on our website. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The story of how Moody’s Analytics developed its KYC solution is one written by different authors. In our KYC Origins series, host Alex Pillow introduces different characters from strategic acquisitions to tell the tales of how their anti-financial crime and risk management businesses were founded, grew, and then joined the Moody's family. Chapter one: Grid. Rupert de Ruig, senior director at Moody’s Analytics KYC, narrates the events that led to formation of an industry consortium, which evolved into a solution that changed the way risk screening is implemented globally.Settle in for a tale involving:The evolution of SaaSLearning what works (and crucially what doesn’t)How adverse media screening can reduce the cost of fraudThe mission to reduce false positivesThe development of AI in screeningFinding a home at Moody’sListen in to this episode and look out for others in the KYC Origins series. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Perhaps it goes without saying that customers of financial institutions who are politically exposed persons (PEPs) come with varying degrees of risk. In addition to their elevated political status, which can make them attractive targets for bribery and corruption, there’s also the subsequent institutional risk of reputational damage and fines from getting your dealings with PEPs wrong. Sometimes you might hear someone refer to needing some "PEP screening" as it if it's a simple process, but even the definition of what constitutes a PEP and the regulation surrounding it is far from one-size-fits-all.In this episode, we are very pleased to welcome PEP experts Colleen Dychdala, Head of PEP data and premium content for Moody’s Analytics KYC, along with Eric Almbladh, who built the preeminent PEP database for the Nordic region - Bogard, which was acquired by Moody’s in 2021. Their conversation with host, Alex Pillow, tackles the complexities of PEP risk management programs, including:The many nuances of what constitutes a PEP and its associated level of riskThe distinction between domestic and international PEPsHow the PEP landscape has evolvedWhere PEP risk mitigation programs go wrongHow PEP screening can scale beyond initial customer onboardingLooking for more information on PEPs? Check out these resources to further your knowledge:FATF PEP GuidanceEU AML DirectivesThe Wolfsberg Group Publication Statement Guidance on Politically Exposed Persons (PEPs)Moody’s Analytics KYC PEP insight piecesReady to take your organization’s PEP risk management program to the next level? Learn how our Grid database can help and get in touch; we’d love to help. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Reflecting on a time you were deceived, did you ever pause first to ask yourself the most rudimentary question: does this make sense? Overlooking this question can lead to bad outcomes for consumers, businesses, and society alike.The art of deception is nothing new, and neither are the subsequent feelings of humiliation and fear victims are left with.Fighting financial crime takes on different forms across various departments, but in this episode of KYC Decoded, we focus on fraud prevention. Joining host Alex Pillow are fraud experts, Greg Richardson, Senior Director of Global Sales at NeuroID, and Kyle Caldwell, Senior Vice President of Fraud Product Management at M&T Bank. Their conversation covers:The many different guises of fraudHow fraudsters steal informationThe impact fraud has on institutions, law enforcement, and practitionersThe critical relationship between highly intelligent fraud specialists, quality data, and advanced technology when fighting sophisticated criminal networksIf this episode left you hungry for more information on fraud, here are some additional resources:KYC Decoded episode, Book club: The Lazarus heistLuke Raven’s LinkedIn post comparing fraud and anti-money launderingTech coalition websiteFrank on Fraud websiteInfamous Ghost Money YouTube channelOur blog, NRRP anti-fraud measures intensify across the EUAnd, if you are ready to take your fight against fraud another step further, please visit our website and get in touch. We would love to hear from you. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

As the desire to build an anti-financial crime network grows, the question arises: how can we get our hands on the most comprehensive and accurate data? When it comes to collaborative financial crime fighting and fraud prevention, the concept of data sharing may seem obvious on the surface. However, delicately balancing regulatory complexities and privacy concerns, can require shifting an entire compliance culture paradigm.In this episode of KYC Decoded, we are joined by experts Taavi Tamkivi, founder and CEO of regtech firm, Salv, and Sverker Tornhagen, Moody’s Analytics KYC Financial Crimes Industry Practice Lead. Listen along to a thought-provoking conversation highlighting topics including:Risks vs. benefits of data sharingThe technology and infrastructure needed to support effective data sharingHow teams benefit from successful data sharingIf you want to take a more active approach to fighting financial crime in your organization, here are some helpful resources mentioned in the episode to help you get started:KYC Decoded episode, KYC Officer of the futureKYC Decoded episode, What’s wrong with AML?Obstacle Is the Way: The Timeless Art of Turning Trials into Triumphby Ryan HolidayFinancial Action Task Force ‘Partnering in the Fight Against Financial Crime: Data Protection, Technology and Private Sector Information Sharing’ reportRUSI Future of Financial Intelligence Sharing ‘Lessons in Private-Financial Information Sharing to Detect and Disrupt Crime’ paperBasel Institute on GovernanceSALV blogTransactie Monitoring Nederland (TMNL)Monetary Authority of Singapore’s COSMIC digital platformCifasLastly, be sure to check out our website and get in touch to learn more. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The recipe for a successful anti-money laundering program is seemingly simple on paper. But, in practice, getting the right ingredients is not so easy. Without efficiency, modern tools and technology, and a compliance-friendly culture, the final dish is likely to disappoint.In this episode, host Alex Pillow welcomes Carl Kemmerer, Senior Product Manager at NICE Actimize. Carl brings a wealth of experience, having spent twenty years as an AML practitioner in international banking. This dynamic and comprehensive conversation includes Carl’s takes on how AML is going wrong today, including:Inconsistent methods of measuring risk across different banksThe gap between AML expertise and AI expertiseThe lack of holding bad actors accountable and bringing real incentives for those going above and beyondBusiness cultures not prioritizing compliance across all departmentsTo learn more, visit the NICE Actimize website.Curious about how to make AML changes in your organization? Check out our website, and feel free to get in touch – we’re happy to help. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The ACAMS Hollywood 2023 conference was another success bringing industry professionals and practitioners together to discuss AML regulatory trends, emerging technologies, and more. In this episode, host Alex Pillow provides on-the-ground coverage capturing engaging conversations with Kieran Beer, Director of Editorial Content, Chief Analyst at ACAMS; Lukayn Hunsicker, Moody's Analytics KYC Head of New Product Innovation; Richard Graham, Moody's Analytics KYC Industry Practice Lead; Colleen Dychdala, Moody's Analytics KYC Head of Premium Content at Grid; and Modesto Rivero, Moody's Analytics KYC Senior Product Analyst. And, for the first time, Alex takes his turn in the hot seat as he shares his insights with host Jill DeWitt.Listen along for the inside scoop on conference topics, including:The growing role of sanctions in global affairsUpcoming regulations like the Corporate Transparency ActThe increasing importance of public-private partnerships in combatting financial crimeThe friction between data privacy and AML goalsChallenges compliance departments face todayTo learn how Moody's Analytics KYC can help take your AML and compliance programs to the next level, visit our website. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The steadfast enforcement of anti-financial crime regulations in the US often leads to severe financial consequences for offenders. Jill DeWitt, Moody’s KYC Industry Practice Lead for Financial Crime and Due Diligence in the Americas, profiled some US companies that were fined in 2022. While fines ranged from thousands to hundreds of millions of dollars, a few key themes emerged across the board. In this episode, Jill guides us through some observations, including:Business growth vs. Compliance growthStaffing and training complicationsSuspicious Activity Report (SAR) filings and backlogs in CDDScreening issuesGeneral program failuresFor additional information, check out the resources below that were highlighted in this episode:Financial Crimes Enforcement Network (FinCEN)US Department of the Treasury Office of Foreign Assets Control (OFAC)Next generation sanctions screening against IP addresses blogKYC - Driving customer loyalty, advocacy, and business growth blogIf you are looking to take your due diligence program to the next level, please get in touch – we’d love to hear from you. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The supplier risk landscape for corporates today is shaped by sanctions, ESG commitments, and potential for reputational harm - which is just the start. But amid all this, there is competitive advantage to be found through optimized third-party risk management.No stranger to the topic is Vincent Scales, Director of Third-party Risk Management at Verizon and Chairman of the Board for the Third-party Risk Association. After participating in a primary research study conducted by Moody’s Analytics, Vincent joins this episode of KYC Decoded, bringing the findings of the research to life.Also joining is Enrico Aresu, Moody’s Analytics Compliance and Financial Crime Practice Lead for the DACH region and central eastern Europe.Highlights of this engaging conversation include:Context for increased commitment to TPRMControllable vs. uncontrollable risk in supply chainsThe difference a compliance culture can makeGaining advantage with Governance Risk and Compliance (GRC) platformsFor additional resources, check out:The rising tide of third-party risk management report from Moody’s Analytics, in partnership with Context ConsultingMoody’s Analytics third-party risk management insightsThird Party Risk Association (TPRA) website and LinkedIn profileShared Assessments website and its Standardized Information Gathering (SIG) QuestionnaireTo find out how Moody’s Analytics can help elevate third-party risk management and supplier due diligence in your organization, visit our website and get in touch any time. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Former international sales executive, Richard Bistrong, served time in a federal prison camp after being targeted in a US Department of Justice investigation of a UN supply contract. After fully cooperating, he now dedicates his life to raising awareness and educating companies on the risks of corruption.In this episode of KYC decoded, Richard and Bill Hauserman, Moody’s Analytics KYC head of the Financial Crime Compliance Practice for the Americas, talk about:How expertise, data, and technology should work together to push due diligence forward.The impact culture has when it comes to compliance strategies and mitigating risk.The qualities required of professionals to maintain their integrity and deal with illicit actors.For more information, check out the resources mentioned in this episode:Visit Richard's website at Richardbistrong.com, or email him at [email protected] Anti-Bribery LLCRichard’s compilation of book reviewsThe FCPA blogACAMS websiteACFCS websiteKYC Decoded episode, ‘Modern slavery and how to fight it’If you would like to find out how Moody’s Analytics can help automate your third-party risk management, please get in touch. We would love to hear from you. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The US Corporate Transparency Act (CTA) is coming. It aims to create a national registry of beneficial ownership information. But what exactly does this mean? How will it change the fight against financial crime in the US and beyond? What hurdles need to be overcome? What questions are still unanswered? How can the public voice concerns?In this episode of KYC Decoded, Alex Pillow is joined by lawyer, AML practitioner, thought leader, and current founder and principal of RegTech Consulting, LLC, Jim Richards, and former practitioner and current Moody’s KYC Industry Practice Lead Jill DeWitt. Their conversation explores these questions, and more.After listening to this episode, be sure to check out the recommended resources discussed for further learning:Financial Crimes Enforcement Network (FINCEN): The Anti-Money Laundering Act of 2020American Bankers AssociationRegTech ConsultingAntimoneylaundering.wtfAnd make sure to visit the Moody's KYC website, where you can find even more information about beneficial ownership and customer due diligence. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

If you could look into a crystal ball, what do you think the future would hold for KYC and AML professionals? In this episode, Luke Raven, Senior AML Compliance Manager at Cabital, shares how he hopes this industry will continue to evolve into the next generation, including:Changes to the compliance profession seen so farThe skillsets – and more importantly, attitudes – needed for successThe role technology will increasingly play in effectiveness and efficiencyFor more resources, check out:ACAMSThe Global Coalition to Fight Financial Crime website and LinkedIn accountAustralian Transaction Reports and Analysis Centre (AUSTRAC)TRM LabsFinancial Action Task ForceThe Australian Federal PoliceUK National Crime Agency (NCA)The International Criminal Police Organization (Interpol)If you like what you heard, please check out our website to learn more. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

One year on from Russia’s invasion of Ukraine, so much has changed – particularly around sanctions. In this episode, host Alex Pillow is joined by Hera Smith, former Global Sanctions Compliance Officer, sanctions expert and Moody’s Analytics KYC Industry Practice Lead. Topics addressed in this conversation include:The growth of sanctioned entities over the last yearDifficulties KYC and AML sanctions professionals face navigating ownership and control data in this pressurized environmentLessons learned for both regulators and practitionersTools and methods compliance teams can use to address new sanctions packages efficiently and effectivelyThe heightened enforcement actions being taken, with a couple of recent examplesVisit the links below for additional sanctions resources:US Department of the Treasury Office of Foreign Assets Control (OFAC) – Sanctions Programs and InformationUK Office of Financial Sanctions Implementation (OFSI)Sanctions Law, Practice and guidance website KYC Decoded sanctions miniseries:Part 1: The Pen is Mightier than the SwordPart 2: Going Beyond the ListsPart 3: Networks Defeat NetworksPart 4: Sanctions & CryptoGo beyond the lists and visit our website to find out how Moody’s Analytics can enhance your organization's sanctions compliance program. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

AML effectiveness. AML efficiency.What do these words really mean and what difference do they really make in the fight against financial crime? In this episode of KYC Decoded, host Alex Pillow is joined by Natasha Vernier, co-founder and CEO of the regtech firm, Cable. Their lively and informative discussion covers:How to interpret the loose definition of AML effectivenessWhy AML effectiveness mattersTop reasons organizations are fined and how that continues to evolveThe role technology plays in creating efficiency & automated workflowsFor additional resources on AML effectiveness, check out:Cable's "The Effectiveness of Financial Crime Controls" white paper seriesThe OCC's 2023 Bank Supervision Operating PlanLearn more about Cable's automated assurance tool here and increasing regulatory expectations on partner banks here.To get a demo of Moody’s Analytics AML solutions, visit our website. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the final installment of our investigative journalism miniseries, host Alex Pillow is joined by The Sentry’s Michelle Kendler-Kretsch, Investigative Coordinator and Data Specialist, and Debra LaPrevotte, Senior Investigator and former FBI supervisory special agent. Their engaging, dynamic conversation drives home how investigative journalism plays a critical role in the anti-financial crime ecosystem. A few of the many highlights include:How deeply concentrated insight from investigative journalists strengthen due diligence processes in the private sectorWhat signs to look for when assessing shell companiesWhy data transparency is paramount for an AFC network to defeat bad actorsVisit The Sentry’s website to learn about the work it is doing to defeat predatory networks. You will find all their reports, including the recent report Michelle mentions, Constructing Corruption: Identifying the Enablers Helping Build Violent Kleptocracies.Additional resources about investigative journalism include the International Consortium of Investigative Journalists (ICIJ) and the Organized Crime and Corruption Reporting Project (OCCRP). Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Greed. Scandal. Fraud. Our investigative journalism miniseries continues with an epic true story of one of the biggest, most harrowing heists in history.This hair-raising episode welcomes Bradley Hope, one of the co-authors of Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World.This amazing book is available in all good stores, and if you still can’t get enough financial crime literature, we’ve identified our top picks here.To learn more about the projects Bradley is developing, visit the Project Brazen website. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Multi-billion-dollar fraud. Fake bank accounts. Hackers. Spies. Whistleblowers. In this episode, Dan McCrum, Financial Times investigative reporter, brings to life his book Money Men: A Hot Startup, A Billion Dollar Fraud, A Fight for the Truth. This entry into our investigative journalism miniseries dissects the too-good-to-be-true German tech startup, Wirecard, and the role Dan played in exposing its darkest secrets.Be sure to purchase your copy of his book and check out the Netflix documentary film, Skandal! Bringing Down Wirecard. For further reading, we’ve curated a list of our favorite financial crime books. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Since our sanctions mini-series earlier this year, further packages of sanctions have been released. And most recently, the EU issued a set of FAQs on account openings and deposits. In this bonus episode of KYC Decoded, sanctions expert and Moody's Analytics industry practice lead, Ted Datta, makes a return appearance to shed light on what exactly is in those FAQs and what firms need to do next... Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The tables have turned. In this episode of KYC Decoded, our usual host Alex Pillow sits down as a guest with Jody Houton, UK Content Marketing Manager at IDnow, an identity proofing and fraud prevention platform.Topics unpacked include:The importance of a holistic KYC approach utilizing the right expertsRisk-based vs. ‘one-size’ AML strategiesCompliance best practices and technology that scale with regulatory changesGet the full interview notes by visiting IDnow’s website. And, find out how Moody’s Analytics can transform your risk and compliance program with a comprehensive solution - check out the website. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of KYC Decoded, Alex Pillow is joined by founder at Arctic Intelligence, Anthony Quinn. Their discussion sheds light on the current state of risk assessment frameworks and practices that aren't necessarily keeping up with the rapidly accelerating rate of stricter regulations and heightened criminal activity.Visit the Arctic Intelligence website to discover more about their innovative RegTech solutions, and download a free copy of their 2022 AML Industry Benchmarking report. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Alex Pillow, host of the KYC Decoded podcast, caught up with Head of Financial Crime at Featurespace, Annegret Funke, and journalist from Compliance Week, Aaron Nicodemus, to get their standout moments from ACAMS Vegas. Here are their thoughts on the things you need to know.US Beneficial ownership: the registry is coming, what do you need to understand and how do you prepare?Crypto exposure: every institution has exposure through their customers, so where is yours?Encouraging innovation: regulators and law enforcement are actively fostering innovation in the industry and strengthening communication and collaboration.Inclusivity in banking: bringing small and community banks into the financial crime fold to give criminals a smaller target.There’s much more, so listen to this bonus episode of KYC Decoded and unlock ACAMS Vegas ’22 in less than 22 minutes. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This episode welcomes Jean-Paul Eaton, Global Community Director of FINTRAIL’s Fintech Fincrime Exchange (FFE), who takes listeners through the story of how FFE originated. What started as a small roundtable, FFE has now matured into a global community that shares information on how to detect and deal with financial crime.Listen along to learn more about FFE and FFECON, its annual conference for FinTechs and financial crime professionals to understand and share developments in the industry.Hear about FFE and its activities by visiting its LinkedIn page, and check out the FINTRAIL website for research from a network of talented financial crime fighters. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In our pKYC series we have explored the concept of pKYC and the technologies behind it, but what is it like operationally to practice this modern process and yield positive outcomes? In this final installment of the pKYC series, Jessica Cath, Head of Financial Crime Project Delivery at FINTRAIL, discusses her unique experiences and perspectives as an active practitioner in compliance to answer this question.Visit the Moody’s Analytics KYC website for more information on how to implement pKYC in your organization.And visit FINTRAIL’s website for even more resources:FINTRAIL Insights Page Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A large difference between traditional KYC and Perpetual KYC is the technological advancements that enhance the process to make it more efficient. In the second part of our pKYC series, Alex Pillow speaks with Delphine Masquelier, KYC Solution Manager at Quantexa, Alex Richter, Head of Customer Lifecycle Management at PassFort, and Henry Irish, Manager of Technology Strategy at Moody’s Analytics. Their discussion takes a closer look at the technologies needed for a successful Perpetual KYC program.Visit the Moody’s Analytics KYC website for more information on how to implement pKYC in your organization.And visit Quantexa’s website for even more pKYC resources:Continuous KYC: A data-led approach that helps you find real risks in real timeMoving to Continuous KYC Monitoring to Reduce Risk & Improve Compliance Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Are the traditional methods of periodic review things of the past? A new approach called Perpetual KYC (pKYC), offers solutions to optimize the conventional process and make it more time efficient and less expensive, providing real-time risk mitigation. In the first part of our Perpetual KYC series, host Alex Pillow is joined by Chor Teh, Moody’s Analytics Financial Crime Compliance Industry Practice Lead, to explore the definition, understanding, and implementation of Perpetual KYC.Visit the Moody’s Analytics KYC website for more information on how to implement pKYC in your organization.For additional resources, check out:PassFort Lifecycle WebsiteWolfsberg Group Guidance on Digital Customer Lifecycle Risk ManagementFATF Opportunities and Challenges of New Technologies for AML/CFT Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

It is noble and important work when compliance professionals spend their days behind an office desk using sophisticated tools and processes to prevent financial crime. However, there’s another compelling story to be told about the difference one can make away from the office, deep within the trenches. This episode welcomes undercover agent and author, Robert Mazur, who has worked side-by-side with some of the world’s most notorious money launderers and drug traffickers. Be sure to grab your copy of Mazur’s latest book, The Betrayal, and listen along as he shares his experiences and the inspiration behind his work.For more information, please check out the following resources mentioned in this episode:Robert Mazur’s general websiteThe Betrayal and The Infiltrator booksSubscribe to Robert Mazur’s PODCASTS+ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Crypto may provide bad actors with yet another channel to launder funds, but could it also provide a unique set of opportunities for KYC and AML professionals to revolutionize their practices and manage risks in new ways? The third and final installment of our Crypto Series welcomes Niels Pedersen, Senior Lecturer of FinTech at The Manchester Metropolitan University, and Laurence Twelvetrees, a multiple time MLRO at crypto-focused businesses.Key discussion points in this episode include:Individual privacy verses blockchain transparencyGlobal financial inclusionDecentralized financeTo learn more about the resources shared in this episode, please check out the following:Thinking in Systems: A Primer by Donella H. MeadowsCoinMarketCapEllipticFinancial Technologies: Case Studies in FinTech Innovation by Niels PedersenTo find out how Moody’s Analytics KYC solutions can help your organization harness the power of crypto with confidence, please get in touch. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Outsmarting criminals preying in the crypto space - no one said it was easy. How can KYC and AML systems work with law enforcement to tackle these opponents? Our crypto series continues with part two taking a deep dive into risk mitigation and law enforcement focused on crypto. In this episode, host Alex Pillow is joined by Craig Gleeson, Senior Office for the Crypto assets Money Laundering, Bribery & Corruption Threat Team for the UK’s National Economic Crime Centre in the NCA, and Tom Robinson, co-founder and Chief Scientist at blockchain analytics company, Elliptic.For further reading, check out the resources below:Wired ArticleFCA websiteNational Strategic Assessment of Serious and Organised CrimeEliptic.coTo find out how Moody’s Analytics KYC solutions can help your organization harness the power of crypto with confidence, please get in touch. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Like it or not, some of your global customers are likely to be engaging with cryptocurrency. Flashy media headlines highlighting the scandals related to the crypto space often create feelings of fear, anxiety, and confusion, which can muddle our understanding of the real risks associated with crypto. In the first episode of our 3-part cryptocurrency series, special guests Yana Afanasieva, Founder & CEO of Competitive Compliance and host of the podcast Compliance that Makes Sense, and Pierce Kearns, Financial Crime Consultant and cryptocurrency enthusiast, provide their takes on the perceived versus real risks related to crypto as well as the responsibility KYC professionals have to understand them.For more cryptocurrency learning, here is a great resource:Free compliance downloads and templatesTo distinguish digital asset opportunities from cryptocurrency risks in your compliance practices, please get in touch. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

How do Financial Institutions determine the right RegTech vendors for them? And how do RegTech providers establish a reputation that is built on trust?The RegTech industry poses unique challenges for buyers and sellers alike. In this special bonus episode, host Alex Pillow and guest Matt Neill, Managing Director and Co-founder of Beyond, take a closer look at Beyond’s recently published guide, Leveraging RegTech in Financial Crime Compliance Programmes.This thought-provoking conversation weaves through the processes and systems needed by both vendors and Financial Institutions to yield successful outcomes.Download the report, and get in touch to find out how Moody’s Analytics KYC can support your institution’s RegTech requirements. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In a world where computer hacking has become increasingly more sophisticated, how does an organization ensure it does not find itself the next victim of a financial cybercrime attack? In this episode of Moody’s Talks: KYC Decoded, leading investigative journalist and author of the recently published book The Lazarus Heist, Geoff White, breaks down the events of the 2016 Bangladesh bank heist, commonly attributed to North Korea’s cyber unit, the Lazarus Group. Listen along for a riveting account of money laundering fueled by cybercrime, the devastating consequences such crimes can bring about for victims, and the systems and controls needed to combat it. For additional resources, make sure to check out:The Lazarus Hei$t BBC podcast seriesGeoff White’s 2020 book, Crime Dot Com: From Viruses to Vote Rigging, How Hacking Went GlobalCountdown to Zero Day: Stuxnet and the Launch of the World’s First Digital Weapon by Kim ZetterTo learn how to prevent financial crime in your organization, please visit kyc.moodys.io. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Could crypto actually be enabling sanctions evasion, or is this just grabbing headlines?In the final discussion of our Sanctions Miniseries, David Carlisle, VP of Policy and Regulatory affairs at blockchain and analytics company Elliptic, weighs up the validity of this question.Learn more about how you can adapt to an evolving sanctions environment by visiting our website. And visit Elliptic’s website for more sanctions evasion resources:Guide to sanctions compliance in cryptocurrenciesPreventing Financial Crime in Cryptoassets: Typologies Report 2022Reach out to us via [email protected] to share feedback and ideas for new Moody’s Talks: KYC Decoded episodes. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

You may have looked data up and down and back again, but have you looked at it sideways?In Part 3 of our Sanctions Miniseries, host Alex Pillow is joined by KYC expert, Graham Barrow, host of The Dark Money Files podcast. Their discussion sheds light on the networks of those who are sanctioned and the risk indicators to look for.Find out more about how you can adapt to an evolving sanctions environment by visiting our website.Reach out to us via [email protected] to share feedback and ideas for new Moody’s Talks: KYC Decoded episodes. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In Part 2 of our Sanctions Miniseries, Andréas Hobbelin, Head of Anti-Money Laundering & Financial Crime Prevention at ZTL Payment Solutions, guides us beyond sanctions lists by sharing the importance of ownership and control in relation to sanctions. Without complete and accurate data, subsidiary networks are more difficult to detect, and mistakes become more likely for vendors and practitioners.This conversation highlights ways organizations can take a proactive approach to mitigating sanctions risk.Learn more about how you can go beyond the lists and adapt to an evolving sanctions environment by visiting our website and reading our related whitepaper.Reach out to us via [email protected] to share feedback and ideas for new Moody’s Talks: KYC Decoded episodes. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Russia’s invasion of Ukraine has had a profound impact on the compliance, KYC, and supply chain industries as governments around the world have issued sanctions at a rapid pace.In this first installment of our Sanctions Miniseries, host Alex Pillow provides an overview of sanctions, the subsequent responsibilities organizations have for staying compliant – and the consequences for not.Find out how to adapt to an evolving sanctions environment by visiting our website.Reach out to us via [email protected] to share feedback and ideas for new Moody’s Talks: KYC Decoded episodes. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Attitudes towards AI in the KYC and AML space are often riddled with disillusionment. It begs the question, are there ways to unlock the potential of AI technologies in a more productive way when combatting financial crime? Host Alex Pillow delves into this topic with guests Janet Bastiman, Chief Data Scientist at Napier AI, and James Nurse, Managing Director at FINTRAIL.Check out these resources to learn more:AI path design: the future of AML & how to prepare for it webinarThe optimal path to AI implementation for financial crime compliance e-bookBuilding trust and confidence in AI blogOpportunities and challenges of new technologies for AML/CFTArtificial intelligence public-private forumAI public-private forum final reportDo you have feedback or ideas for new Moody's Talks: KYC Decoded episodes? Please get in touch via [email protected]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

When it comes to analyzing the financial crime industry, are you overwhelmed by data points? The more pressing concern is likely how to gain deeper insight into data that lead to more valuable business decisions. In this episode, host Alex Pillow and Jamie Hutton, CTO of Quantexa, discuss how entity resolution can be a powerful tool on your journey toward more impactful and affective KYC.To learn more about Quantexa, be sure to visit their website and check out their entity resolution long page. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.