Sep ’16 – Nov ’16 Issue

Issue 15.4

Issue: Vol. 15 No. 4

Featured
Hype vs. Reality

Hype vs. Reality

Casinos are a rather arcane business given that not too long ago legal gambling was confined to the states of Nevada and New Jersey. Lest anyone think otherwise, operating a successful legal casino is a lot harder…

Do Not Roll the Dice

Do Not Roll the Dice

At the 2014 Bank Secrecy Act (BSA) Conference, former Financial Crimes Enforcement Network (FinCEN) Director Jennifer Shasky Calvery stated that “under existing regulations, a casino is required to develop…


From the Executive Vice President
AML in Today’s Environment

AML in Today’s Environment

It is certainly difficult to believe that we are approaching the ACAMS 15th Annual AML & Financial Crime Conference. With another impressive showing from…

From the Editor
What Happens in Vegas…Stays in Vegas

What Happens in Vegas…Stays in Vegas

But does it? Not always. Especially if your stay in Vegas involves some type of financial crime. Most people go to Vegas for the opportunity to escape reality…


Inside this Edition
Probing the Practical Viability of FATF Standards in Preventing the Movement of Money for Terrorism

Probing the Practical Viability of FATF Standards in Preventing the Movement of Money for Terrorism

Following 9/11 and the growth in terrorism studies, there has been an increased focus on the practices surrounding terrorist financing. Likewise, in recognition of almost…


Defining Marijuana-Related Businesses

Defining Marijuana-Related Businesses

What is a marijuana-related business? The answer—or more accurately the definition—must be considered and discussed by all financial institutions. Regardless of an institution’s…


Achieving Enterprise Risk When AML and Privacy Laws Conflict

Achieving Enterprise Risk When AML and Privacy Laws Conflict

Enterprise risk is a familiar but challenging topic within the anti-money laundering (AML) and compliance community. In order to deliver value to customers and shareholders, an institution…


When Two Worlds Collide

When Two Worlds Collide

Over two days in June, the Cryptocurrency Certification Consortium (C4) hosted the inaugural Blockchain Training Conference at MaRS Discovery District in Toronto, Canada…


Fighting Money Laundering in Real Estate

Fighting Money Laundering in Real Estate

To succeed in the U.S.’ fight against money laundering through the real estate sector, two weaknesses in our current anti-money laundering/counter-terrorist financing (AML/CTF) regime…


How low can you go?

How low can you go?

The enforcement actions taken by the Office of Foreign Assets Control (OFAC) this year against two subsidiaries of Halliburton Energy Services, Inc., (Halliburton Atlantic Limited and…


The Lion in Wait: The Impact of the Yates Memo on Compliance and Monitoring Officials

The Lion in Wait: The Impact of the Yates Memo on Compliance and Monitoring Officials

As compliance officers, anti-money laundering (AML) directors, vice president of anti-bribery efforts, or even executives, are you worried about the Department of Justice’s (DOJ) Yates…


Navigating FATF Recommendation 16

Navigating FATF Recommendation 16

Amid concern about the rise of terrorist organizations and other criminal bodies, banks are being asked to step up their role in monitoring international payments. While much attention…


European Announcements

European Announcements

As we move into autumn, I want to draw your attention to Samantha Sheen’s blog—a great new resource focusing on anti-money laundering (AML) issues impacting the anti-financial…


Rick McDonell: AML Issues and FATF

Rick McDonell: AML Issues and FATF

ACAMS Today had the privilege of interviewing Rick McDonell about his accomplishments, the Financial Action Task Force’s (FATF) mutual evaluations and anti-money laundering…


Mary Bashore, CAMS: Next Step as Executive Board Director Emeritus

Mary Bashore, CAMS: Next Step as Executive Board Director Emeritus

ACAMS Today had the privilege of speaking to Mary Bashore about the U.S. Capital Chapter’s recently adopted position of executive board director emeritus and on her recent…


Hype vs. Reality

Hype vs. Reality

Casinos are a rather arcane business given that not too long ago legal gambling was confined to the states of Nevada and New Jersey. Lest anyone think otherwise, operating a successful…


Compliance Solutions: Combining Cognitive Computing with Human Intelligence

Compliance Solutions: Combining Cognitive Computing with Human Intelligence

Historically, technology tools have offered solutions that provide conclusions based on the analysis of static data and transactional data associated with specific banking activities. The different…


Unmasking Bias in AML Algorithms

Unmasking Bias in AML Algorithms

Bias within big data has been found everywhere from Google search results to Amazon Prime delivery locations. As anti-money laundering (AML) departments increase their reliance on…


AML and Lending: Building Awareness through Partnership

AML and Lending: Building Awareness through Partnership

Commercial lending is most often an organization’s cornerstone of profitability. The pressure for commercial lenders is to achieve aggressive goals that usually come with lucrative bonus…


Do Not Roll the Dice

Do Not Roll the Dice

At the 2014 Bank Secrecy Act (BSA) Conference, former Financial Crimes Enforcement Network (FinCEN) Director Jennifer Shasky Calvery stated that “under…


Understanding Customer Risk

Understanding Customer Risk

In May 2016, the Financial Crimes Enforcement Network (FinCEN) issued final rules under the Bank Secrecy Act (BSA) outlining customer due diligence (CDD) requirements for…


Patricia Cabrera: The Conference Experience

Patricia Cabrera: The Conference Experience

Patricia Cabrera is currently the U.S. event manager at ACAMS, where she produces the world’s largest anti-money laundering (AML) conference, the ACAMS Annual AML and Financial…


Trish Emerson, CAMS—Charlotte, NC, USA

Trish Emerson, CAMS—Charlotte, NC, USA

Trish Emerson is the senior director for Ally Financial, Inc.’s Enterprise AML Investigations Team where she is responsible for all anti-money laundering (AML) and terrorist financing…


Michael Slover—Riverwoods, IL, USA

Michael Slover—Riverwoods, IL, USA

Michael Slover is the vice president, chief Bank Secrecy Act/anti-money laundering (BSA/AML) and sanctions officer for Discover Financial Services. Since July 2015, he has been responsible…


Tatiana Turculet, CAMS—Munich, Germany

Tatiana Turculet, CAMS—Munich, Germany

Tatiana Turculet has been working in consulting since 2014 after joining Deloitte’s Risk Advisory Department. She has been involved in highly complex audit, regulatory and forensic…