You’re synchronizing twice, which is pointless and possibly slows down the code: changes while iterating over the list need a synchronnization over the entire operation, which you are doing with synchronized (in_queue_list) Using Collections.synchronizedList() is superfluous in that case (it creates a wrapper that synchronizes individual operations).
However, since you are emptying the list completely, the iterated removal of the first element is the worst possible way to do it, sice for each element all following elements have to be copied, making this an O(n^2) operation – horribly slow for larger lists.
Instead, simply call clear() – no iteration needed.
Edit:
If you need the single-method synchronization of Collections.synchronizedList() later on, then this is the correct way:
List<Record> in_queue_list = Collections.synchronizedList(in_queue);
in_queue_list.clear(); // synchronized implicitly,
But in many cases, the single-method synchronization is insufficient (e.g. for all iteration, or when you get a value, do computations based on it, and replace it with the result). In that case, you have to use manual synchronization anyway, so Collections.synchronizedList() is just useless additional overhead.