Kieran Beer the Chief Analyst and Director of Editorial Content at ACAMS, the Association of Certified Anti-Money Laundering Specialists, a global 80,000+ member organization dedicated to fighting financial crime. Kieran is also responsible for ACAMS moneylaundering.com and ACAMS Today. Prior to joining ACAMS in 2006, he was executive editor of Bloomberg Wealth Manager, an award winning investment and financial planning magazine, and he also served as a staff writer for Bloomberg Markets Magazine.
Kieran has been a financial journalist for more than 25 years, beginning his career at Institutional Investor. He subsequently served as editor-in-chief of The Bond Buyer, founding editor of Thomson Municipal Market Monitor, and editor at the American Banker.
Kieran speaks regularly at industry conferences, has appeared on CNBC and Sky News, and has been heard on WBBR and NPR. He writes two columns on anti-financial crime issues and is the host of “Financial Crime Matters,” an award winning podcast series, as well ACAMS videocasts on YouTube.
The biggest enforcement action in the US was undoubtedly against Goldman Sachs – that involved a $3 billion penalty. It was related to the 1MDB case. Apart from that, it was a quiet year for enforcement at the federal level although there were some actions against individuals. FinCEN, notably, fined former US bank compliance officer Michael LaFontaine $450,000 in March. The big regulator this year (and last year) with regard to monetary penalties was not a federal regulator; it was the New York Department of Financial Services, which brought enforcement actions against Deutsche Bank and the Industrial Bank of Korea.3 February 2021