Episode 06: Jack Blum

Jack is a Washington lawyer who is an expert on white-collar financial crime and international tax evasion. He served for many years as a U.S. Senate staff attorney, where he was involved in numerous well-known investigations, including those of Lockheed Aircraft and the Bank of Credit and Commerce International (BCCI). He has helped several banks build their anti-money laundering systems. Jack is now a senior advisor to the Tax Justice Network and has worked as a consultant and expert witness for the US Internal Revenue Service. He has represented numerous whistle-blowers and once said of Lichtenstein “if the family business of the absolute monarch of this place is assisting tax evasion, a felony in the US, the place is a criminal enterprise, not a country.”

AML Talk Show Hosted by Stephen Platt

In this series of podcasts, our hosts Martin Woods and Stephen Platt will interview key figures in the world of financial crime prevention and examine successes and failures in the global fight against money laundering and related crimes including drug trafficking, bribery and corruption, sanctions evasion, human trafficking and tax evasion.


Good afternoon, folks, and welcome to this KYC360 AML talk show with me, Stephen Platt. The weeks roll on. I hope that you are all staying safe and well. My thoughts go out to everybody who's struggling in isolation. It isn't easy, but if we keep the faith we will beat this. As I said last week, the wheels of commerce continue to turn. Crimes continue to be committed and dirty money gets laundered. In fact, the pandemic poses some terrific opportunities for criminals to take advantage at a time when a lot of organisations' AML systems are being tested and stretched because of the challenge of home working.

We need to be alive to the way that AML risk is evolving rapidly during the pandemic and consider whether our business risk assessments are up to date and fit for purpose during the lockdown because, believe me, many of them won't be, particularly those organisations that are utilizing legacy AML control systems. Now is a time for us to stay alert, keep awareness levels high, which is why I think these podcasts play such an important part. They're not just meant for AML professionals, but they should be of interested and should be utilised for all staff in equipping the first and second lines of defense in order to maintain high levels of AML awareness.

And on that note, I'm absolutely thrilled to be joined by a man who has spent a lifetime maintaining the highest level of expertise as a lawyer devoted to fighting financial crime in all of its various forms. Jack Blum is a legend in AML circles as a former senior staffer on the senate permanent subcommittee on investigations. He was Senator John Kerry's right hand man investigating BCCI and Noriega back in the late 80s, early 90s. And since then he has advised companies at multinationals, banks, and indeed whistleblowers around the world. All the time maintaining the highest degree of integrity and subject matter expertise...

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