Dan Stipano, head of AML/CFT at 鶹, was quoted in MoneyLaundering.com from a panel on the latest developments in anti-money laundering at the Association of Certified Anti-Money Laundering Specialists’ “Assembly Hollywood 2025” conference.

Noting that regulators are moving away from the concept of “reputational risk,” Dan said, “So, if a bank decides not to bank a gun dealer, it’s not because they don’t like gun dealers, it’s because they require a lot of monitoring and compliance procedures and that relationship may not be very profitable.”

Discussing with other panelists which 15 unspecified rules the Treasury Department could scrap, as promised by Secretary Scott Bessent last month, he said, “There are plenty of rules that you could get rid of that are not going to really make much of a dent. If they start to go to the real core parts of the BSA [Bank Secrecy Act] … you could eviscerate the BSA. The U.S. would become the focal point for financial crime for the whole world.”

“,” MoneyLaundering.com (May 2, 2025) (subscription required)

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