Lab Report #19
Lab Report #19 This week in financial Crime Lab Report #19 This week in financial Crime Lab Report #19 – This week in financial Crime Last week the reporting layer was on trial (Edition #18) has now been followed by the week the reporting layer was (in one significant jurisdiction) formally dismantled. On 11 August […]
Lab Report #18
Lab Report #18 This week in financial Crime Lab Report #18 This week in financial Crime Lab Report #18 – This week in financial Crime The compliance-failure question that opened last week’s edition sharpened dramatically this week. Senate Finance Committee Democrats published a four-year investigation alleging that Bank of America, Deutsche Bank and JPMorgan Chase […]
Lab Report #17
Lab Report #17 This week in financial Crime Lab Report #17 This week in financial Crime Lab Report #17 – This week in financial Crime This week the bill for compliance failure came due, and it came due multilaterally. FinCEN issued its largest ever Bank Secrecy Act penalty against a broker-dealer, hitting UBS with $125 […]
Lab Report #16
Lab Report #16 This week in financial Crime Lab Report #16 This week in financial Crime Lab Report #16 – This week in financial Crime This was the week the enforcement architecture began asking questions of itself. The Office of the Comptroller of the Currency delivered its first public denial of a fintech’s national trust […]
Lab Report #15
Lab Report #15 This week in financial Crime Lab Report #15 This week in financial Crime Lab Report #15 – This week in financial Crime The past seven days should be read as a single, coordinated intervention against the service layer that keeps organised cybercrime and sanctions evasion running. Between 13 and 14 July the […]
Lab Report #14
Lab Report #14 This week in financial Crime Lab Report #14 This week in financial Crime Lab Report #14 – This week in financial Crime This we saw further evidence that enforcement is moving more decisively against enablers. In a 48-hour window OFAC designated the same criminal VPN service that European law enforcement had taken […]
Lab Report #13
Lab Report #13 This week in financial Crime Lab Report #13 This week in financial Crime Lab Report #13 – This week in financial Crime This was the presidential handover week. On 1 July the United Kingdom took over the Presidency of the Financial Action Task Force from Mexico and, on the same day, President […]
Lab report #12
Lab Report #12 This week in financial Crime Lab Report #12 This week in financial Crime Lab Report #12 – This week in financial Crime This week, the architecture of enforcement turned, again, on infrastructure – but with a different emphasis. Where last week’s takedowns targeted patronage and protocol, this week’s targeted hubs: the cloud […]
Lab Report 11
Lab Report #11 This week in financial Crime Lab Report #11 This week in financial Crime Lab Report #11 – This week in financial Crime This week, the regulatory and enforcement architecture reached deeper into operational infrastructure. The US Treasury moved against the financial scaffolding of Hizballah in Lebanon; an international coalition dismantled the SocGholish […]
Lab Report #10
Lab Report #10 This week in financial Crime Lab Report #10 This week in financial Crime Lab Report #10 – This week in financial Crime This week’s pattern was a consolidation of the architecture sketched out across the spring: the rulebook closing around the operational layer where financial crime actually happens. The European Commission unveiled […]