Sigma Insights

From our experts to yours

  • Embracing A New Era of Transparency
    September 25, 2020 at 11:00 PM

    The leak and subsequent investigation of the FinCEN Files hit the financial services industry hard this past week - resulting in sharp declines in banking shares on Monday and a flurry of leaders calling for reform.

  • FinCEN Files: SARs
    September 23, 2020 at 12:00 PM

    Among the startling findings in the FinCEN files were details on the time it took financial institutions to files SARs with FinCEN. Under regulation, banks are required to file SARs within 30 days of criminal activity being detected (and up to 60 days in some cases).

  • The FinCEN Files: Address Risk
    September 21, 2020 at 1:00 PM

    With the release of the FinCEN Files, what was a common denominator related to an international money laundering network, sanctioned in September 2015, that laundered billions of dollars for the world's biggest drug cartels and armed groups, including the Taliban and al-Qaeda?

  • The Blockchain of 2020
    September 18, 2020 at 10:00 PM

    Early in the pandemic, the FT, in response to the UK regulator sanctioning a digital KYC process, highlighted that “checking new client identities remotely amid the coronavirus lockdown makes financial firms more vulnerable to attempted money laundering, and regulatory guidance to accept ‘selfies’ and emailed documents amounts to ‘a fraudster’s charter’.”

  • PPPerpetual Fraud
    September 11, 2020 at 11:00 PM

    This week, reports emerged that JPMorgan, in an internal memo, stated they’re investigating their own employees for “misusing Paycheck Protection Program loans.”

  • Watch Out!
    September 4, 2020 at 11:00 PM

    This week, the WSJ reported that trade sanctions were placed on dozens of Chinese firms in the last week. While the term ‘sanctioned’ might be construed as a prohibition on dealing with the entity in its entirety, the reality is more nuanced.

  • 300+ Million Pages
    August 29, 2020 at 3:00 AM

    This week, Greece’s anti-corruption prosecutor, Eleni Touloupaki, confirmed to the OCCRP that her home was burglarized in what she consid...

  • It Takes Two
    August 21, 2020 at 10:00 PM

    This week, the United States, in coordination with Panama, announced the formation of a new task force that will tackle financial crime in the Central American nation, and brings together prosecutors, regulators and law enforcement.

  • Get on Board
    August 14, 2020 at 10:30 PM

    Last week, the International Journal of Finance and Economics published a study that appears to indicate that financial crime enforcement actions are correlated with an increase in bank risk on several measures of risk.

  • Do I Really Know You?
    August 7, 2020 at 1:00 PM

    Last week, we reported on the newly released 2020 Basel AML Index and the importance of a more dynamic approach to country risk ratings, and risk in general. In Malta, which finds itself in the spotlight again this week in connection with the ongoing Wirecard scandal...

  • What's Wrong With This Picture?
    July 31, 2020 at 11:00 PM

    Last week, the Basel Institute on Governance released its 2020 edition of the Basel AML Index. And what a surprise it was to discover that the country identified as having the lowest risk of money laundering was Estonia...

  • From Macro to Micro
    July 24, 2020 at 10:00 PM

    This week, global firms find themselves in the crosshairs of increasing geopolitical tensions between the United States and China.

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