John Byrne Leaves the American Bankers Association

By Dennis Lormel

In a press release dated August 25, 2005, Bank of America announced the appointment of John Byrne to the position of Anti-Money Laundering Strategy Executive in the bank�s Compliance Risk Management Division. Prior to accepting this position, John served with the American Bankers Association (ABA). He joined the ABA in 1983. I first met John in the early 1990�s when I was a Supervisor at the FBI in the Financial Institution Fraud Unit. Subsequently, when I was Chief of the Financial Crimes Section, in 2000, our association became more focused in dealing with issues germane to the banking industry with regulatory and investigative agencies. Following 9/11, when I formed the Terrorist Financing Operations Section at the FBI, John offered his assistance and counsel on issues critical to our ability to better interact with the banking community.

Since December, 2003, John has been the Director of the ABA Center for Regulatory Compliance. In that time, he was always a major contributor to industry conferences and forums promoting training and addressing sensitive banking issues. In every encounter I�ve had with John, he has displayed the utmost professionalism and concern for bridging gaps between the government and industry.

There are numerous issues involving the benefits and burdens of the Bank Secrecy Act (BSA). John Byrne and Bill Fox, Director of FinCEN, have been among the most visible leaders in addressing these important issues. Their ability to be sensitive to each others position, while representing the interests of their constituencies has been commendable. In part, they�ve achieved this through the BSA Working Group. One of the central issues they�ve addressed has been the development of methods to most effectively and efficiently address money laundering and terrorist financing. The PATRIOT Act enhanced BSA reporting requirements. John and Bill have worked very closely to ensure that at the end of the day, law enforcement is given the best opportunity to disrupt or prevent terrorist activities through banking facilities. When I was at the FBI, I was a direct beneficiary of industry and government cooperation on such issues as Suspicious Activity Reporting. In this regard, John has been one of the true unsung heroes in combating terrorist financing, as well as money laundering.

On one hand, I�m sorry to see John leave the ABA because of the contributions he has made; on the other hand, I�m excited for the opportunity that awaits him at Bank of America. John, thank you for all you�ve done to advance anti-money laundering and terrorist financing compliance.

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