Plausible deniability won't cut it when it comes to financial regulation. On this episode of Information Risk, David Loshin enlightens us on the intricacies of customer due diligence and the risks related with poor practices. He and Doug discuss real-world enforcement actions by the Office of the Comptroller of the Currency against banks in Ohio and Connecticut and explore the broader implications of these issues within the financial system. They also talk cryptocurrency and highlight how digital currencies pose compliance challenges and are used by bad actors for illicit activities. On the other side of the coin, they talk enforcement actions, including recent Financial Crimes Enforcement Network (FinCEN) investigations, and the $4.4 billion fine levied on Binance for illicit activities on its platform.

References: • Historic fine on Binance over alleged Hamas financing signals new era in crypto crackdown - Politico • Binance and CEO Plead Guilty to Federal Charges in $4B Resolution - U.S. Dept of Justice • Crypto Under the Gavel: Binance and Beyond - Amini & Conant

Information Risk is a podcast hosted by Doug Atkinson featuring David Loshin, a renowned data strategy consultant and director at the University of Maryland. David explores theoretical and real-world examples of 'information risk', the different types of risk that misuse and misinterpretation of data can pose to organizations. Contact David Loshin: ⁠LinkedIn

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