FinCrime Agent

FinCrime Agent shares video updates, tutorials, job talks, conference reviews and much more about Financial Crime prevention and the Reg. compliance industry.

[FinCrime Agent @FinCrimeAgent]

Instant payments can move scam money out of an account in two minutes. The FATF says the freeze window is the first 24 to 72 hours. A firm that needs three days to route a scam report has already used the whole window. #Fraud #AML

[FinCrime Agent @FinCrimeAgent]

Still waiting for someone to tick “yes” under “Are you laundering money?” 😅

Image AI generated

[FinCrime Agent @FinCrimeAgent]

watch the full video here: https://t.co/eo2kMHmlPh

[FinCrime Agent @FinCrimeAgent]

🎥 What Does an MLRO Actually Do? Full Career Breakdown

https://t.co/eo2kMHmlPh

[FinCrime Agent @FinCrimeAgent]

Extreme Networks pays OFAC $1.5m. Every order was screened, yet nine reached a blocked Russian defence maker after a distributor explained away the mismatch.

An explanation from the party that created the contradiction is not evidence.

#Sanctions #OFAC

[FinCrime Agent @FinCrimeAgent]

OFAC designated two Russian nationals it says converted millions in crypto for North Korea's IT worker schemes.

A real employer, a real salary, and an account holder who never did the work.

#Sanctions #NorthKorea

[FinCrime Agent @FinCrimeAgent]

Not every PEP represents the same level of risk.

Effective PEP management should be proportionate, risk-based and properly documented.

My practical guide:
https://t.co/NmmfKeY9N2

#AML #Compliance #PEPs

[FinCrime Agent @FinCrimeAgent]

The Star must pay A$260m. The court found 1,200+ high-risk customers used channels where third-party payers were never recorded.

If you never recorded who paid in, you cannot say where the money came from.

#AML #AUSTRAC

[FinCrime Agent @FinCrimeAgent]

FATF grey list: Bulgaria, Côte d'Ivoire, DRC and Monaco are out, 18 remain. EU tax list: Panama and Viet Nam are out. Côte d'Ivoire, DRC and Monaco stay on the EU AML list. All four lists, updated: https://t.co/PK2KWfclIb

[FinCrime Agent @FinCrimeAgent]

FinCEN flags $8bn in MSB payments directed by foreign agents, wired abroad from the MSBs' own bank accounts.

The wire carries your customer's name. The instruction came from someone else.

#AML #FinCEN

[FinCrime Agent @FinCrimeAgent]

The deadline is clear. The source of funds, less so. 😅

[FinCrime Agent @FinCrimeAgent]

The FATF cleared Bulgaria, Côte d'Ivoire, the DRC and Monaco from the grey list and made scam compounds a priority.

A list changes in a day. The risk in a market does not.

#FATF #AML

[FinCrime Agent @FinCrimeAgent]

What does an MLRO actually do?

I break down the responsibilities, personal accountability, SAR oversight and career path behind one of the most senior roles in AML.

🎥 https://t.co/eo2kMHmlPh

[FinCrime Agent @FinCrimeAgent]

Nearly 100 SARs filed after FinCEN's July alert became 20,000 suspicious transactions and 270 million dollars of suspected student aid fraud, now with investigators.

A refund from a school is a labelled credit. Read the label.

#Fraud #AML

[FinCrime Agent @FinCrimeAgent]

MLAT, CLOUD Act, overseas production orders, EU eEvidence.

Could you explain the differences?

Here’s a short walkthrough for financial crime professionals handling cross-border data requests.

https://t.co/34GeHXCFwv

[FinCrime Agent @FinCrimeAgent]

If you were a kid in the ’80s, you know why this is worrying... 😅

[FinCrime Agent @FinCrimeAgent]

DOJ says 36.9 million dollars of scam money moved from US shell company accounts into one Bahamas bank account, then into USDT and on to Cambodia.

A conversion request is also a destination.

#Fraud #Crypto

[FinCrime Agent @FinCrimeAgent]

The FCA's draft Financial Crime Guide names outbound-only monitoring as poor practice for mule controls. Feedback closes 24 December.

A guide with no rules still tells you what the supervisor will ask.

#FCA #MoneyMules

[FinCrime Agent @FinCrimeAgent]

A quiet week… For the person on holiday. 😅

[FinCrime Agent @FinCrimeAgent]

Treasury sanctioned a Panama and Greece law firm, plus three employees it says sat on the boards of the shadow fleet companies it registered.

A screening tool that only checks company names will miss the people on the boards.

#Sanctions #KYC