Corylated
Podcast Description
Welcome to 'Corylated', the podcast for compliance and risk aficionados. Rachel Wolcott and Lindsey Rogerson dive deep into the ever-evolving world of regulation and compliance. Unveiling trends, providing expert insights, and building a vibrant community, each episode is your gateway to mastering the historical context and current shifts in regulatory landscapes.
Tune in, stay informed, and enjoy the some of the trusty guidance we promise to deliver!
www.compliancecorylated.com
LinkedIn - https://www.linkedin.com/company/compliance-corylated
Subscribe to our Newsletter - https://www.compliancecorylated.com/this-week-corylated/
Podcast Insights
Content Themes
The podcast dives into themes of regulatory changes, financial compliance, diversity, equity, and inclusion (DEI), and the historical context of financial regulations. Episodes cover topics such as the evolving discourse on DEI in workplaces, the impact of financial deregulation, and expert interviews, like one with Diana Henriques discussing the SEC's formation after the 1929 stock market crash.
Welcome to ‘Corylated’, the podcast for compliance and risk aficionados. Rachel Wolcott and Lindsey Rogerson dive deep into the ever-evolving world of regulation and compliance. Unveiling trends, providing expert insights, and building a vibrant community, each episode is your gateway to mastering the historical context and current shifts in regulatory landscapes.
Tune in, stay informed, and enjoy the some of the trusty guidance we promise to deliver!
www.compliancecorylated.com
LinkedIn – https://www.linkedin.com/company/compliance-corylated
Subscribe to our Newsletter – https://www.compliancecorylated.com/this-week-corylated/
In this episode Rachel Wolcott and Lindsey Rogerson discuss how the US is diverging from the Rest of the World when it comes to expectation on financial crime expectation and the checks it requires financial institutions to make.
They begin talking about US Treasury plans to reduce Bank Secrecy Act anti-money laundering obligations for smaller banks. Rachel raises the case of Summit National Bank in Hulett, Wyoming (pop. <400) which had plans to go big in fintech with a Bulgarian crypto company. It did not have ambitious ML/CFT compliance plans, however, and US regulators pulled the plug.
Lindsey and Rachel then switch to discussing the recent fines from the UK Financial Conduct Authority on the so-called challenge banks – Metro, Monzo and Starling bank as well as early action against CB Payments. Most of which can be attributed to prioritising growth in customer number of AML and KYC checks. And Lindsey asks what has happened to an essential annual data publication from the Payments Systems Regulator.
Finally, they discuss the European Banking Authority’s recent opinion on the state of AML control at European institutions and the UK’s nine System Priorities for tackling financial crime.
Links:
Main Street banks can have Big City financial crime risks
Summit National Bank, Hulett, Wyoming
Weak bank customer due diligence in spotlight again after Barclays fined £42 million
National Crime Authority System Priorities
UK-Nigeria partnership to detect, disrupt and deter fraud – GOV.UK
EBA Opinion and Report on ML TF risks.pdf
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Disclaimer
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