GENIUS Act, HKMA Penalties + RIA Rollback | FinCrime Unfiltered

In this episode, Sarah Beth Felix breaks down The GENIUS Act and explores its potential impact on financial institutions and the broader compliance landscape. SB analyzes innovative or novel AML policies emerging globally, including recent developments from the Hong Kong Monetary Authority (HKMA)—with a close look at the penalties issued this week.📌 Stay tuned for key operational takeaways for banks and credit unions, especially those banking RIAs, and what to expect next in compliance strategy and enforcement.You'll also learn how Financial Intelligence Units (FIUs) are evolving to meet modern financial crime threats, and what the FATF (Financial Action Task Force) guidance means in practice. We examine how recent NPRMs (Notices of Proposed Rulemaking) could reshape U.S. compliance frameworks, especially for Registered Investment Advisors (RIAs), and how that intersects with Bank Secrecy Act (BSA) obligations and Customer Identification Programs (CIP).Plus, we draw connections between AML policies and other industry regulations using NAICS codes to help you understand how regulators categorize business activity and risk.-----------------------------------------------------------------------------------------------------------------------How close are we to the world of Minority Report or Mission: Impossible?Next Monday, July 28 at 2pm ET, Illicit Edge is hosting a live digital event on how once-fictional AI is transforming present-day financial crimes compliance – featuring TRM Labs’ Ari Redbord and Illicit Edge podcast host and former CIA analyst Yaya Fanusie.  It’ll be fast, sharp, and live but you’ve got to register to attend.Check it out and secure your spot today: https://streamyard.com/watch/8sibvXgwwApy-----------------------------------------------------------------------------------------------------------------------FinCrime Unfiltered's Proud Sponsors:Hummingbird is a compliance operating system reimagining what's possible from financial crime investigations. By providing financial institutions with fast and easy data integrations, seamless report filing, and time-saving automation and AI tools, Hummingbird helps those on the front lines of financial crime quickly get to the heart of each investigation.Today’s criminals are sophisticated, tech-savvy, and agile. The tools used to fight them should be too.To learn more, visit hummingbird.co or follow us on LinkedIn.-----------------------------------------------------------------------------------------------------------------------Illicit Edge: Breaking News for Financial CrimeFinCrime Unfiltered with Sarah Beth Felix dives into the gritty world of financial crime with sharp insights, real talk, and unapologetically, SB or Sarah Beth. From money laundering trends to sanctions, we break down the latest headlines and operational takeaways with a no-nonsense edge. Expect frank analysis, lessons learned, and the occasional guest— no fluff, just what matters.Email us with your questions: [email protected] views, thoughts, and opinions expressed in this podcast belong solely to the host and do not necessarily reflect the views, policies, or positions of Acceleron Bank (in formation). The views, thoughts, and opinions expressed in this podcast belong solely to the host and do not necessarily reflect the views, policies, or positions of Acceleron Bank (in formation).See omnystudio.com/listener for privacy information.