Episode Title: AML/CFT Regulatory Roundup of 2024 – Integrity Insights with Jennifer-Hanley Giersch

In this information-packed episode of Integrity Insights, host Filip Brokes welcomes managing partner of Berlin Risk and ALL AML Jennifer-Hanley Giersch for a comprehensive year-end review of the key developments in Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations for 2024. They cover everything from enforcement actions and regulatory updates to sanctions, cybercrime, and terrorist financing. If you work in compliance, risk management, or financial crime prevention, this episode is a must-listen to prepare for the challenges ahead.

Show Notes

• Introduction
  A look back at the podcast's history and this episode's focus on the regulatory landscape.
• Enforcement Actions
  • Key fines in the U.S., Europe, and beyond.
  • Discussion of significant cases like TD Bank and Commerzbank.
• Regulatory Developments
  • EU AML/CFT Regulation updates, including the AMLA.
  • Expansion of obliged entities to crypto services, luxury goods, professional football clubs and more.
• Sanctions Highlights
  • EU sanctions related to the war in Ukraine.
  • Notable sanctions circumvention cases.
• Terrorist Financing
  • Impacts of the Israel-Palestine conflict on financial regulations.
  • Crypto's role in terrorist funding and OFAC's actions.
• Cybercrime and Financial Crime Nexus
  • EU Digital Operational Resilience Act (DORA) and its implications.
  • Global efforts to combat cybercrime, including a new UN convention.

Resources Mentioned:

• Financial Action Task Force (FATF): www.fatf-gafi.org
• European Commission AML Directives: europa.eu
• UN Draft Cybercrime Convention: UN Cybercrime
• ALL AML Infobrief: https://allaml.eu/en/2024/11/11/der-aktuelle-infobrief-von-all-aml-2/

Timestamps

1. [00:00] Introduction
   • Welcome and overview of the episode's focus.
2. [2:00] Enforcement Actions
   • Major fines in the U.S. (TD Bank) and Europe (Commerzbank, Solaris).
   • Key trends in enforcement.
3. [6:25] Regulatory Developments
   • The EU AML Policy Package.
   • Expansion of obliged entities.
   • Impacts of AMLA’s establishment.
4. [16:00] High-Risk Third Countries

• FATF List
• EU List

1. [20:30] Sanctions Updates
   • Key EU sanctions packages in 2024.
   • Notable cases of sanctions circumvention.
2. [26:00] Terrorist Financing
   • Hamas-related financial networks.
   • Crypto and its role in terrorism funding.
   • New EU and U.S. actions against far-right groups.
3. [32:15] Cybercrime as Financial Crime
   • Connection between cybercrime and money laundering.
   • EU DORA and global cybercrime regulations.

Connect with Us:

• LinkedIn: https://www.linkedin.com/showcase/integrity-insights/?viewAsMember=true
• Berlin Risk Linkedin: https://www.linkedin.com/company/berlinrisk/?viewAsMember=true
• Website: https://berlinrisk.com/