FinCEN: Mail Theft Check Fraud by Kevin Bleckley and Michael Bruno
Deep dive into the September 2024 FinCEN issued Financial Trend Analysis: Mail Theft-Related Check Fraud. The FTA analyzes threat pattern and trend information on mail theft-related check fraud incidents, based on BSA data filed. The session will also review investigative methodologies used to uncover mail theft-related check fraud.
SAR Case Study LE Session by Carol Frakes
Hector Barreto, who served as the Small Business Administrator under President George W. Bush, and Miguel Gutierrez operated a charity called the Latino Coalition Foundation. Barreto controlled the charity’s bank accounts and had operational control. Barreto and Gutierrez solicited donations into that charity to be used to establish an apprenticeship program to help low income youth get critical job training and skills. Instead of using the charitable funds for charity, Barreto and Gutierrez stole much of the funds for themselves through direct and indirect payments to themselves, using the charity’s credit cards for personal expenses, and payments to friends and family members. To help hide the diversion of charitable funds, Barreto and Gutierrez falsified the IRS Form 990s for the charity to make it falsely appear they had not received payments from the charity when in reality, they had received hundreds of thousands of dollars.
Gutierrez pleaded guilty in July 2022 to one count of conspiracy to commit wire fraud and one count of filing a false tax return. Barreto pleaded guilty in April 2023 to conspiracy to commit wire fraud and conspiracy to defraud the United States.
Barreto was sentenced to 20 months in prison and ordered to pay $944,693.51 in restitution and a $100,000 fine. Gutierrez was sentenced to 10 months in prison as a condition of five year probation. He was also ordered to pay a $100,000 fine and restitution of $1,194,439.51. A restraining order was entered against both defendants to ensure government oversight of their assets until the victims are made whole.
Beneficial Ownership Practitioner Panel by Amanda Chaffee, Amy Fardella and Jillian R. Arrezi
This session will review the two critical regulatory frameworks shaping financial transparency: the Customer Due Diligence (CDD) Rule, and FinCEN’s Beneficial Ownership Information (BOI) Rule. We will discuss potential challenges banks may face with FinCEN’s implementation of the BOI Rule, as well as common misconceptions. We will also discuss key differences between the two rules and how to manage customer expectations while they are required to report similar information to both FinCEN and their financial institutions.
Countering Human Trafficking/Human Smuggling-MSBs and Law Enforcement Efforts by Alberto Laureano, David Rosenau and Enrique Marrero
This presentation will explain what human smuggling is, methods of human smuggling, how an individual gets smuggled, and the dangers involved in the process. Additionally, the presentation will discuss human smuggling organizations and the financing mechanisms behind these organizations. The distinction between human smuggling and human trafficking will be discussed as well as what the public can do to help.
Sanctions – It is not just “set it and forget it” by Sarah Beth Felex
- This session will focus on the important differences between sanctions and AML programs and how to ensure your institution is operationalizing and mitigating applicable sanctions risk.
- In addition, attendees will get an update on the various aspects of the US Treasury Sanctions regime since the War in Ukraine and how that impacts all US institutions.
- Key takeaways will include policy highlights, penalty trending, sanctions framework steps, and indicators of unmitigated sanctions risks.
Pig Butchering Specifics you never see in webinars by William Sparks
Stages of a scam: yes
That sweety text or email you got was from a bot: yes
The five minute scam confirmation process: maybe some
Online lenders that scammers push victims to: no
Actual text of victim emotional toll: no
Law Enforcement operators are NOT standing by. How to shape your investigation for aggregation with others: no
What has to change in U.S. legal process service to make in rows? No
In this session, we will look deep inside two such scams. Both very different. One with little chance of recovery. One with hope.
Generative AI: What to know now to be ready for what’s next by Holly Shipley
Generative AI is a rapidly evolving field with the potential to transform many industries and aspects of everyday life. In this session, the session will provide insights on generative AI, outline its potential risks and opportunities, provide real-world examples, and recommend next steps on how to use GenAI now & continue to use this technology as it develops. The goal of this session is to equip the audience with the knowledge and skill set needed to explore the world of generative AI, understand its potential impact, and make informed decisions about its application.