The Financial Crime Forum Online USA 20240229

The first Financial Crime Forum dedicated to current areas of interest in the USA. Recorded online on the 29th February, 2024 the Forum covered:

The Corporate Transparency Act: Mike McGovern, Managing Partner - Corporate, Securities & Tax at McGovern Law, PLLC, Austin, Texas
https://www.linkedin.com/in/mikemcgovernlaw/ explains how the Act affects all types of corporations registered in - and doing business in - the USA and highlights some of the pitfalls and problems for companies trying to comply with the Act, as well as explaining how the penalties system works.

Cannabis Banking: Peter Su, Director of Specialty Banking, Hanover Bank , New York https://www.linkedin.com/in/petersu/ has more experience than most in setting up cannabis banking schemes across the USA. He explains why it's so difficult, how it sits in a twilight zone between legal and illegal and why cannabis businesses might be one of the less risky businesses for banks to take on from a money laundering perspective.

The Grooming of Online Fraud Victims: Nigel Morris-Cotterill, Financial Crime Risk and Compliance Strategist, https://www.countermoneylaundering.com explains why a specific type of fraud is known as "the Nigerian Scam" and why those who argue that today's speed of communication is the primary factor as to why advance fee fraud and other online frauds are so successful. He also explains why the term "pig butchering" is wrong, why many of those that try to explain it are mistaken and finally gives a formula as to how fraudsters make their dodgy deals work.