EXPERT SPOTLIGHT
David Olesky:
Better lines of communication
lead to better results
A
CAMS Today caught up with Special
Agent David Olesky for an informative interview. Special Agent Olesky
has been with Drug Enforcement Administration (DEA) in excess of ten years. He
has worked in the DEA New Jersey Division
and DEA’s Panama Country Office. Prior to
joining DEA, GS Olesky worked for several
years as an auditor for a public accounting
firm where he obtained his CPA license.
ACAMS Today: Describe your current position
and responsibilities?
David Olesky: I am a Special Agent Group
Supervisor for DEA’s Financial Investigations
Group in Los Angeles. Our group focuses on
the most significant drug traffickers operating in the Southwestern United States who
are laundering drug proceeds both inside and
outside of the financial system.
AT: How did you become involved with law
enforcement and compliance?
DO: Prior to joining DEA, I had worked
several years for a public Accounting Firm,
obtained my CPA license, and then soon after
applied to DEA. I have been with DEA just
over ten years, and with my background in
accounting, it was almost a natural fit that I
would eventually find myself working in the
Financial Investigations Group. This past
year, I have interacted more with compliance
officers as a result of the networking opportunities which have presented themselves
via ACAMS. My group has a lot of interaction
with financial institutions due to the nature
of our group’s mission.
AT: How can compliance professionals work
more effectively with law enforcement?
DO: Do not be afraid to ask questions and
interact with the agents and officers. When
12
your compliance office receives a subpoena
request from law enforcement, feel free to
contact the agent and discuss the request.
Of course the investigators can not disclose
anything that could potentially compromise
the investigation; however, there is a practical middle-ground where both investigator
and compliance officer can work optimally.
Money laundering investigations tend to
be complex, time consuming and may even
last a number of months — if not years. It is
best if both sides can establish a professional
relationship so that both the investigator and
the compliance officer understand the goals.
For a DEA agent, even for me having worked
in the financial arena, it can be very intimidating to take on a financial investigation.
The majority of agents are more comfortable
knocking down someone’s door in the middle
of the night then meeting with a compliance officer to discuss financial records. As
a result, the better the lines of communication are between the two sides, the better the
results will be as well.
AT: As a law enforcement professional, what
are the three most important items you look for
during a money laundering investigation?
DO: Number 1, we are looking for how the
target subject first enters his drug proceeds
into the financial system. Identifying the
relationship between the specified unlawful
activity or SUA and the entrance of the
money into the financial system is critical.
This is why knowing your customer (KYC) is
very useful to the law enforcement community. Who and how the subject is first getting
the proceeds into the system again are critical for us to identify. Number 2, we try to
expand our investigations to the fullest and
identify any and all associated accounts,
assets, and individuals. And Number 3, we
ACAMS TODAY | MARCH–MAY 2011 | ACAMS.ORG
try to t