In the wake of the “FinCEN Files” leaks, Martin Woods examines whether monitoring text rather than numbers in transactions could serve as a solution to our greater anti-money laundering woes.
Martin Woods
Don’t forget to tell your teams they’re doing a good job
With no personal contact with your team members, it can be easy to forget to remind them from time to time that they’re appreciated, to give them a lift during these troubling times. It will pay off both for them and for you, writes Martin Woods.
Progress on beneficial ownership key to AML fight
With the British Virgin Islands vowing its commitment to a beneficial ownership public register, financial crime expert Martin Woods turns his attention toward how the U.K. and U.S. are progressing in the space.
With ‘FinCEN Files,’ don’t shoot the messenger
It’s important we understand with the “FinCEN Files” that the enemy is not a journalist, a regulator, or a banker. The enemy is the money launderer, and this is where we need to focus our thinking and resources, writes Martin Woods.
FinCEN leaks impart key lessons on basics of writing SARs
Martin Woods, who has analyzed many of the suspicious activity reports released as part of the “FinCEN Files,” offers best practices for compliance officers in writing SARs.
FinCEN leaks damage trust between banks and regulators, but serve higher purpose
The “FinCEN Files” leaks divided opinions within the community of financial crime compliance officers. Trust has been damaged, writes Martin Woods, but these leaks could facilitate real reform.
Lesson for startups: Don’t try to fake compliance
Promising startups are often cut slack with compliance because investors feel they will eventually make it, but the time in between is ripe with dangers that extend well beyond the company, writes Martin Woods.
Assessing the fallout from coronavirus relief loan frauds
In both the U.S. and U.K., millions (perhaps billions) of dollars of coronavirus relief loans intended for small businesses is believed to have been misused. Legitimate businesses have been hurt as a result, writes Martin Woods.
Gut instinct keeps humans ahead of AI in fight against financial crime
As artificial intelligence evolves and takes on new tasks, whether it can develop the instinct of an experienced compliance professional will be key to its prevalence in the AML world, writes Martin Woods.
Companies should give back to employees who let them into their homes
Where would companies be if employees hadn’t adjusted to working from home so well during this pandemic? The least firms can do is pay them back for their hospitality, writes Martin Woods.


