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Domestic Extremism: New Challenges for AML Compliance Officers and Investigators 

by Carol Van Cleef, Ari Redbord, Kim Johnson

Published: February, 2021

Submission: February, 2021

 



Domestic extremism is not new, but heightened law enforcement scrutiny in the wake of the Capitol riots has added yet another layer of complexity to the jobs of already challenged AML compliance professionals and investigators. This webinar will go behind the headlines and closely explore factors that banks, credit unions, crypto exchanges and other SAR filers should consider when updating their AML compliance programs, customer due diligence efforts, and suspicious activity monitoring processes.


Other Speaker(s)


Ari Redbord – Head of Legal & Government Affairs at TRM Labs


Webinar Recording



 


Key Takeaways


  • The response to the Capitol attack has involved a whole government approach from law enforcement, prosecutors, the intelligence community, and regulators. It has been an unprecedented response analogous to the 9/11 response to foreign terror threats.
  • Review your AML compliance program:
    • Account termination procedures, including keep open situations 
    • Negative news
  • Suspicious activity monitoring and filing should include reviewing:
    • Red flags, including keep open letters, subpoenas and other inquiries
    • Continuing activity
    • Quality of SARs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

 



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