Future of KYC Compliance | EP 17 - ANU’s Anton Moiseienko: Why Targeted Sanctions Can’t Systematically Prevent Illicit Financial Flows

We’ve repeatedly seen how large financial institutions are fined for AML compliance failures and breaches that other organizations have experienced in the past.  What’s the role these sanctions truly play in preventing financial crime recurrence? In today’s episode, we are joined by Anton Moiseienko, a Lecturer at the ANU College of Law who not only has been studying the legal and policy aspects of targeted sanctions but also but also has extensively researched on emerging technological risks and the financial footprint of cybercrime. Topics discussed in this episode: - What drew Anton to the world of financial crime. - How the nature of financial crime has changed in recent years. - Why targeted sanctions are ineffective to prevent financial crime. - Implication of the use of cryptocurrencies on compliance officers’ work. - How blockchain analytics can help with financial crime prevention. - Other types of cybercrime and the challenges these impose over financial institutions. - Reflections on the most recent AML fine cases. - Obstacles for cross border collaboration and international standard setting. - Advice for AML/Compliance professionals