So the FINCEN Files thing about money laundering based of info found in SAR Filings...here's where I kinda landed on it
a) extremely impressive reporting
b) the fact that HSBC's stock is at its lowest since 95 shows that investors care
c) the AML compliance startup space is

first of all, everyone gets KYC and AML confused and thinks its the same thing. it's not—they're fundamentally different tasks that touch many different departments of a financial services company. probably best to think about it like a Venn diagram imo

KYC is Know Your Customer—being able to confirm that I am who I say I am. this is more about onboarding customers that won't scam you. AML is about preventing money laundering. SAR filings are the way that institutions communicate with regulators and authorities.

with SAR filings, the multiple stakeholder issue leads to communication breakdowns I think. Which is why automated SAR filings by @HummingbirdFin is such a compelling product for compliance folks

So back to the FINCEN Files...SAR filings suck but they're not bad, they're actually super important and we should be focusing on making that process a lot more efficient

a tweetstorm on compliance structures and SAR filings before noon, I need help