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 article titled “FinCEN’s AML and Terrorist Financing Priorities: An Introduction,” featured in ACAMS Today, shared general thoughts, basic definitions, and practical examples on each of the national anti-money laundering (AML) priorities. This article, the seventh of the series, will discuss transnational criminal organization (TCO)...
“I always like to describe Congress as writing in pen, and the administration as writing in pencil.” In the latest episode of the “Sanctions Space” podcast, Justine Walker is joined by Matt Zweig, Senior Director of Policy at FDD Action. They discuss how sanctions are...
Sanctions can be effective if they are proportional to the strength of their enforcement and the unity of global efforts. EU sanctions against Russia, its oil and natural gas industry, are not an exception to this rule. Whilst many suggest that sanctions have worked as...
The article titled “FinCEN’s AML and Terrorist Financing Priorities: An Introduction,”1 featured in the ACAMS Today 12th Law Enforcement Edition, shared general thoughts, basic definitions, and practical examples on each of the national anti-money laundering (AML) priorities. This article, the sixth of the series, will...
"Unfortunately, I must say that you don’t have to be a criminal mastermind to come up with a sanctions evasion or circumvention scheme… most of the time, they’re not very sophisticated.” In the latest episode of the “Sanctions Space” podcast, Justine Walker is joined by...
Former Financial Crime Enforcement Network (FinCEN) Director Kenneth Blanco once said, “Banks must be thinking about their crypto exposure. If banks are not thinking about these issues, it will be apparent when examiners visit.”1 This advice from the former FinCEN director can also be applied...
In this episode of “Financial Crime Matters,” Kieran Beer talks with Tristram Hicks, co-author with Nicholas Gilmour of “The War on Dirty Money,” an examination of the promise and shortcomings of the current costly global effort to combat financial crime. Drawing on his years as...
The term financial technology (fintech) is many times used interchangeably when referring to regulatory technology (regtech) and supervisory technology (suptech). However, these technological solutions should not be lumped together. Let us unpack the distinct differences. What is Fintech? Fintech includes the provision of financial services...
The global COVID-19 pandemic had widespread consequences. International lockdowns and subsequent work-from-home mandates created an unprecedented increase in financial crime, leading to a rising demand for anti-money laundering (AML) specialists. This has been primarily driven by continuous changes in technology, where security measures may not...
“Who watches the watchmen?” Often, in a very small company, there is only one person who serves as both the back office and compliance person. And as the person in the hot seat, you know that good systems are critical to prevent deliberate and inadvertent...