Dec ’18 – Feb ’19 Issue

Issue: Vol. 18 No. 1

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Featured

Straight Off the Awards’ Floor

James Paul Cummings is currently the compliance specialist at Hamby & Hengeli LLC. Prior to joining Hamby & Hengeli LLC, Cummings was a senior special agent with the U.S. Department of Treasury and the U.S. Department of Homeland Security. His experience…

1984—Making the Cash Connection

Years ago, during a transformative time, Apple Computers introduced the Macintosh, which revolutionized the way people interacted and embraced technology. The Space Shuttle Discovery took off on its maiden voyage and over its lifetime gathered more…

From the Director of Editorial Content

“Should auld acquaintances be forgot?”—Not If It Means a Lapse in CDD

Some people make New Year’s resolutions. Some, as is the case for journalists, mark the start of another cycle of Earth’s…

From the Editor

Notable Moments

Some moments are memorable, notable, noteworthy; others are learning experiences, adventures or even sorrowful. Life is filled with moments. For me, the end of the year always seems…

Wildlife Trafficking: The Urgent Challenge for AML Professionals

The pangolin—a creature found largely in Africa—is the most trafficked mammal in the world. This creature looks prehistoric, weighing anywhere from 2-33 kilograms and measuring 30-152…

The Case for Explainable AI

An “artificial intelligence (AI) summer” is a period where expectations are high and funding comes easy, where it seems almost every company is harnessing machine intelligence, and…

Art and Antiquities: Conduits for Money Laundering and Terrorist Financing

Trafficking—of blood diamonds, endangered wildlife or even humans—has garnered fierce international engagement in recent years. One under-addressed illicit trade is that of art and…

AML in Asia: 2018 in Review

The world seems more chaotic. Every day, there are money laundering and counterterrorism stories in the newspapers. The U.S. and European papers are filled with stories about the…

Straight Off the Awards’ Floor

James Paul Cummings is currently the compliance specialist at Hamby & Hengeli LLC. Prior to joining Hamby & Hengeli LLC, Cummings was a senior special agent with the U.S. Department of…

A Dozen All-Stars

Every month, anti-money laundering (AML) professionals from both the public and private sectors are nominated and selected to win the ACAMS AML Professional of the Month Award. AML…

When is the best time to apply for an AML/financial crime prevention job?

Recruiters regularly have conversations with contacts and candidates about how timing affects their job prospects. The expression timing is everything is a cliché for a reason: it is true…

Community Banking and Staff Recruitment Challenges

As banks grow (especially community banks), there comes a time when the need for an increase in staff is essential. However, convincing management that staff is needed is a major…

1984—Making the Cash Connection

Years ago, during a transformative time, Apple Computers introduced the Macintosh, which revolutionized the way people interacted and embraced technology. The Space Shuttle…

A Field Guide to the AML Sovereign Risk-Rating Agencies

Everyone familiar with finance has heard of the major debt-rating agencies, such as Moody’s and Standard & Poor’s. These agencies provide opinions about the likelihood that a borrower, including…

AML Update: What Has Changed and What Has Stayed the Same

There has been something different about money laundering compliance news in 2018. For the first time in many years, the major headlines have not been about compliance lapses of U.S…

The New Face of Drug Dealing

From a Canadian perspective, the war on drugs began in 1908 with the passing of the Opium Act and in reality, the war has never ended. Canadian drug laws have gone through several…

ACAMS Europe in 2019

You are either reading this issue of ACAMS Today as the holiday season approaches or as 2018 recedes, and it is a natural time to take stock of priorities for the year ahead. Traditionally, we…

Time for Action in the EU’s Battle Against Money Laundering

In September 2018, the Netherlands’ largest bank, ING, received a record European fine of approximately $900 million for money laundering violations. Although ING’s fine was a particularly eye-catching figure, the money laundering violations themselves hardly felt …