Human Trafficking, Human Slavery, Trafficking in Persons, Human Smuggling – Part 2
John Reynolds is a former Bank regulator, having retired from the NY Fed as an Examining Officer in the Financial Institution Supervision Group. John started out his career as an Assistant Bank Examiner in 1979 working up through the ranks and has been involved in all facets of bank examination work at international, large complex institutions, regional, and community institutions. Since 2009, he has played a leadership role in the NY Fed’s Compliance examination work, where he guided teams of examiners reviewing institutions’ compliance with AML-BSA and OFAC regulations and laws.Follow John on LinkedIn:

Human Trafficking, Human Slavery, Trafficking in Persons, Human Smuggling – Part 2

A global problem.  What can we do as US financial institutions to help bring it to an end? Last month we discussed the global blight of human trafficking under its various names.  It is second only to global drug trade in terms of its profitability for the criminals who traffic in persons. It produces well […]

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Human Trafficking, Human Slavery, Trafficking in Persons, Human Smuggling – Part 1: A global problem. What can we do as US financial institutions to help bring it to an end?

Consider the following: On October 23, 2019, the bodies of 39 Vietnamese people—29 men, 2 boys, and 8 women — including 10 teenagers; the youngest were two 15-year-old boys—were found in the trailer of a refrigerated trailer in Essex, United Kingdom. The trailer had been shipped from Belgium, to UK.  Although it was a refrigerated […]

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Snow Washing: What You Need to Know

What is snow washing?  Hint: it has nothing to do with the Ivory Snow Detergent washing powder. Wikipedia tells us that Snow washing refers to hiding illegitimate financial transactions often for purposes of tax evasion in Canada. The term being an amalgam of the words snow meaning purity as well as the cold Canadian climate and washing referring to money […]

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A Helpful Guide to the Examination Process, Part 2

Last month we discussed the pre-examination period and the actual on-site examination from the perspective of both bankers and examiners. One of the key themes that emerged was the need for clear and open communications between all parties. This time, we’ll continue with a discussion of the post-examination process, some comments about Supervisory Enforcement Actions, […]

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A Helpful Guide to the Examination Process, Part 1

I think we would all agree that the examination process has evolved over the years. With the greater technology, sophistication, and complexity of our banks, what used to be an annual surprise examination has taken on more of a continuous process. Granted, there are still periods of more intense activity such as actual on-site work, but […]

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