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- 🚨 Dirty Audits, Crypto Risks, and OFAC Heat – FinCrime Unfiltered Ep. 12 Is Live
🚨 Dirty Audits, Crypto Risks, and OFAC Heat – FinCrime Unfiltered Ep. 12 Is Live
Illicit Edge - Edition for July 18, 2025
🚨 PODCAST DROP!
FinCrime Unfiltered with Sarah Beth Felix
Dirty Audits, Crypto Risks, and OFAC Heat
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In this week’s episode, Sarah Beth Felix calls out one of the biggest threats to financial institutions today: audits that don’t do their job. From lazy transaction testing to forced structuring gone unchecked, Sarah Beth exposes what’s really happening inside traditional banks and MSBs – and why clean audits are a red flag, not a badge of honor.
Plus:
Crypto Guidance Gaps: U.S. federal banking agencies issue joint guidelines on safeguarding crypto — but credit unions are notably absent. Sarah Beth unpacks what it means for regulatory consistency.
The Office of Foreign Assets Control (OFAC) Comes Down Hard: Interactive Brokers gets hit with an $11.8M fine (down from a potential $5.2B). What saved them? Self-disclosure and real investment in compliance — a lesson for all.
Bonus Round: Barclays gets slapped with £42M for onboarding shady investment firms. And in Andorra, 18 bank executives are sentenced to prison for money laundering. Why don’t we see that in the U.S.?
💡 Takeaways: Weak audits, poor staffing, and compliance-as-checkbox will get you in trouble. Sarah Beth lays out the mindset and tools you need to fix it.
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