Rick McDonnell is the Executive Director of ACAMS, the Association of Certified Anti-Money Laundering Specialists, a global 80,000+ member organization dedicated to fighting financial crime. Rick is an internationally-recognized anti-money laundering authority, with extensive experience both as a prosecutor and as an investigator leading sophisticated multidisciplinary investigations into organized crime and fraud cases both nationally and internationally.
Prior to his role at ACAMS, Rick was the Executive Secretary of the Financial Action Task Force (FATF), the leading intergovernmental body overseeing global money laundering and terrorist financing issues, founded by the G7 in 1987. While at FATF, Rick modernized compliance assessment methodologies to measure effectiveness of anti-financial crime policies around the world and led the expansion of the group's global network to nine FATF‐Style Regional Bodies (FSRBs) comprising over 190 countries.
Before his FATF role, Rick was the Chief of the UN Global Programme against Money Laundering (GPML) and prior to that, the founder and inaugural Executive Secretary of the Asia/Pacific Group on Money Laundering (APG).
Beyond his role at ACAMS, Rick is also Chair of the Advisory Board and Adjunct Professor for the Master of Arts in Financial Integrity degree (MAFI) at Case Western Reserve University School of Law. Rick is principal and co-owner of McDonell-Nadeau Consultants, specializing in financial integrity, particularly anti-money laundering and counter-terrorism financing (AML/CTF).
Money launderers have long run illicit cash through sports interests. Legalized sports betting could provide them another avenue for doing so. Consequently, authorities will have to step up their monitoring efforts for everything from tax evasion to match fixing. Sports entities will have to be more transparent and adhere to stricter internal controls. And financial institutions will have to make spotting suspicious activity a bigger priority.21 September 2020
Every country is potentially affected by money laundering and every country needs to have reaction to it. Partnership and international cooperation is absolutely essential. Without China and several other major countries, FAFT standards wouldn’t have been really implemented.21 September 2020
Lawyers, accountants, precious-metal dealers are seen as [having] a greater level of exposure to illicit financial transactions than previously recognized. Therefore, they need to be covered and need to report suspicious transactions and need to be supervised accordingly.21 September 2020