In this episode of “Financial Crime Matters,” Kieran Beer talks with Rick Small, director Financial Crimes Program at Truist, Dan Soto, chief compliance officer at Ally Financial and John Byrne, executive vice president at AML RightSource about what has been achieved in the past 40 years in the fight against financial crime and what challenges lay ahead.
In anticipation of receiving the “ACAMS Lifetime Achievement Award” at The Assembly in Las Vegas in October, Rick, Dan and John discuss the successes and shortcomings of past Bank Secrecy Act regulation, as well as what is good and what is bad in the Anti-Money Laundering Act of 2020 and the Corporate Transparency Act.
Drawing on nearly 150 years of collective public and private sector experience fighting financial crime, the three long-time friends celebrate the rise of the AML community, the establishment of AFC as a profession and their association with ACAMS since its inception. In concluding, they offer advice to the next wave of anti-financial crime professionals who will face variations on old crime typologies and new scenarios connected to AI and other technologies adopted by industry, law enforcement and, sadly, savvy criminals.
