The ACAMS Connection is a bi-weekly e-newsletter exclusive to ACAMS members. It provides members with a snapshot of anti-money laundering (AML) current events, the latest trends in financial crime and updates on what is new to the ACAMS community. The ACAMS Connection is the trusted source by ACAMS members for staying on top of industry best practices.
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The art market’s vulnerabilities to financial crime have recently become a growing concern in the U.S., Europe and the U.K. Increasingly, authorities have turned their attention to art market transactions, acknowledging that—like other high-end assets—the art trade is ripe for money laundering.1 Scrutiny has been...
Corruption is not a recent phenomenon; it has been in existence for over 2,000 years. Corruption prevailed in many ancient kingdoms highlighted throughout history. Corruption is a much larger phenomenon that can only be observed and is subject to one’s perception of the act being...
With the growing complexity of our regulatory environment, financial institutions (FIs) and businesses continue to be subject to ever-increasing scrutiny and legal obligations to combat money laundering and terrorist financing. In the Caribbean, there is no difference. For Caribbean compliance practitioners who have oversight of...
“Set peace of mind as your highest goal and organize your entire life around it.” Brian Tracy1 The term “Sunday Scaries,” sometimes referred to as the Sunday Blues, is believed to have been coined in or around 2009. There is some debate regarding who created...
Cryptocurrency has become increasingly entrenched in our society and the financial system for the past 10 years. Popular cryptocurrencies, such as bitcoin (BTC), Ethereum (ETH) and Monero (XMR), have grown exponentially both in value and application since 2016. Bitcoin, for example, has skyrocketed to a...
In this “Financial Crime Matters” episode, Kieran Beer talks with Seoyoung Kim about the promise and possible perils of decentralized finance. Kim is associate professor of Finance and department chair at Santa Clara University. They discuss the recent implosion of several cryptocurrency exchanges and stablecoin...
Custodians, which are financial institutions that provide the safekeeping and servicing of investor assets including stocks, bonds and other assets, are exposed to some serious money laundering and financial crime risks. The Financial Crimes Enforcement Network’s (FinCEN) unprecedented enforcement action against a trust and custody...
Sam Cousins is a senior associate at ACAMS, where his work includes supporting public-private partnerships and strengthening ACAMS’ thought leadership pillar through the development of content on sanctions and risk, particularly the Sanctions Masterclass program and Global Monthly Update. Cousins’ work also focuses on countering...
Doris Birmingham is the administrative officer, senior Bank Secrecy Act (BSA) analyst at American National Bank of Texas (ANBTX). Previously, Birmingham was a senior auditor with direct reports and specialized in retail/consumer banking and compliance audits, including BSA, the Sarbanes Oxley Act (SOX), the Privacy...
Anti-financial crime (AFC) guru Sanjeev Menon, managing director of Madison Davis’s Legal and Compliance Practice Area, specializes in executive recruitment and provides staffing and workforce solutions to compliance and anti-financial crime (AFC) clients. Menon, who is an ASA Certified Staffing Professional and holds a Society...
