Dec ’14 – Feb ’15 Issue

Issue 14.1

Issue: Vol. 14 No. 1

Featured
Recognizing the Class of 2014

Recognizing the Class of 2014

ACAMS Today had the opportunity to interview the award winners along with two members of the Montréal Chapter advisory board, Sylvain Perreault and Éric Lachapelle…

Scrapping the Leather for an eWallet

Scrapping the Leather for an eWallet

Since the first time one person said to another, “I want what you have,” there has been the need for reliable currency. Initially, that currency consisted of…


From the Executive Vice President
Insight into AML Challenges

Insight into AML Challenges

As 2014 draws to a close, it is an appropriate time to take stock of the anti-money laundering (AML) community and the issues…

From the Editor
Endings and New Beginnings

Endings and New Beginnings

Congratulations Class of 2014! This phrase generally connotes to most of us a time of graduation. Graduation usually signifies an…


Inside this Edition
Two Crucial Components to Combating Human Trafficking

Two Crucial Components to Combating Human Trafficking

As I watched the replay of the first forum on Combating Human Trafficking, originally held on April 9, 2013 at the White House, I was not only amazed at the stance and…


The Black Market Peso Exchange Scheme: The Past, Present, and Likely Future

The Black Market Peso Exchange Scheme: The Past, Present, and Likely Future

The September 10, 2014 federal raid of nearly 70 locations in the Los Angeles Fashion District that led to the historic seizure of $100 million in cash, nine arrests and the unveiling of…


Scrapping the Leather for an eWallet

Scrapping the Leather for an eWallet

Since the first time one person said to another, “I want what you have,” there has been the need for reliable currency. Initially, that currency consisted of a barter system where…


Money Services Businesses—Victims of the Risk-Based Approach?

Money Services Businesses—Victims of the Risk-Based Approach?

Fueled by recent high profile cases such as HSBC’s $1.9 billion money laundering fine, banks have been taking a good look at their risk profile. This has resulted in many banks…


Diamonds: A Criminal’s Best Friend

Diamonds: A Criminal’s Best Friend

I love chatting with customs officials—they have the best stories. They have encountered almost every ingenious way that people try to smuggle contraband across a border…

Tax Crime and Reporting: A Convergence?

Tax Crime and Reporting: A Convergence?

In the article Traffickers, Terrorists and Tax Criminals,1 published in the 2013 Journal of International Banking and Financial Law, I sought to explain the then novel aspects…

Terrorist Financing: The Mumbai Bombing, a Case Study in the Possible and Probable

Terrorist Financing: The Mumbai Bombing, a Case Study in the Possible and Probable

Between November 26 and 28, 2008, the world was riveted by an extremely well-planned and executed terrorist attack in Mumbai, India. The Pakistani-based group Lashkar-e-Taiba…

The ACAMS 13th Annual AML & Financial Crime Conference at a Glimpse

The ACAMS 13th Annual AML & Financial Crime Conference at a Glimpse

The ACAMS 13th Annual AML & Financial Crime Conference was a great success on many levels. The conference was held at its now customary location the ARIA Resort and Casino…

Recognizing the Class of 2014

Recognizing the Class of 2014

ACAMS Today had the opportunity to interview the award winners along with two members of the Montréal Chapter advisory board, Sylvain Perreault and Éric Lachapelle…

Greater Salt Lake City Chapter’s Inaugural Event

Greater Salt Lake City Chapter’s Inaugural Event

The Greater Salt Lake City ACAMS Chapter hosted its launch event, generously sponsored by RDC on November 6, 2014. With almost 70 AML professionals in attendance, the event…

Karen Yau: The Importance of the CAMS Certification

Karen Yau: The Importance of the CAMS Certification

Karen Yau joined the Association of Certified Anti-Money Laundering Specialists (ACAMS) in 2011. As the operations manager of the ACAMS Asia Headquarters, she is…

Aaron Blankenstein, CAMS—Salt Lake City, UT, USA

Aaron Blankenstein, CAMS—Salt Lake City, UT, USA

Aaron Blankenstein has served as a Bank Secrecy Act/anti-money laundering (BSA/AML) officer of GE Capital Bank (GECB), since February 2014. In this position…


Angeli Pereira, CAMS—Doha, Qatar

Angeli Pereira, CAMS—Doha, Qatar

Angeli Pereira, an anti-money laundering/combating financial terrorism (AML/CFT) specialist with a deep regulatory background, is currently a senior associate in the dedicated…


James Ninni—Chicago, IL, USA

James Ninni—Chicago, IL, USA

James Ninni is a former United States Navy Search and Rescue Swimmer, conducting rescue, recovery and humanitarian missions in Spain, Greece, Italy, France, Tunisia, Turkey…


Roy D’sa, CAMS—Columbus, OH, USA

Roy D’sa, CAMS—Columbus, OH, USA

Roy D’sa is senior vice president and chief Bank Secrecy Act (BSA) officer at Huntington National Bank with over 30 years of experience in financial services. He is an accomplished…


Vicki Landon, CAMS-Audit—Austin, TX, USA

Vicki Landon, CAMS-Audit—Austin, TX, USA

Vicki Landon is a Bank Secrecy Act/anti-money laundering (BSA/AML) professional providing AML services and training to non-bank financial institutions. She formed Landon…

TPPPs: The Fine Line Between Risk and Effectiveness

TPPPs: The Fine Line Between Risk and Effectiveness

The inclusion of third-party payment processors, or TPPPs, to a financial institution’s portfolio can have a positive impact on that organization’s revenue. Conversely, TPPPs can also…


Assessing the Islamic State and Like-Minded Terrorist Group from an AML Perspective

Assessing the Islamic State and Like-Minded Terrorist Group from an AML Perspective

How should financial institution compliance officers, analysts and investigators view the Islamic State? On one hand, as concerned citizens, they should view the Islamic State…

FinCEN’s Advisory on a Culture of Compliance: A Wake Up Call to FI Management

FinCEN’s Advisory on a Culture of Compliance: A Wake Up Call to FI Management

On August 11, 2014, the Financial Crimes Enforcement Network (FinCEN) issued FIN-2014-A007, an advisory to U.S. financial institutions on promoting a culture of compliance…


Europe’s Upcoming Fourth AML/CFT Directive

Europe’s Upcoming Fourth AML/CFT Directive

In February 2013, the European Commission adopted two proposals: the Fourth AML Directive and a complementary regulation on what information must accompany fune…


Basel Committee Guidance on How to Manage ML and TF risk: Part II, Managing AML at the Enterprise Level and the Role of Supervisors

Basel Committee Guidance on How to Manage ML and TF risk: Part II, Managing AML at the Enterprise Level and the Role of Supervisors

This is the second of two articles addressing the Basel Committee on Banking Supervision’s (BCBS) Sound Management of Risks Related to Money Laundering and…