May ’21 – Jun ’21

Vol. 3 No. 1 – ACAMS Today Europe

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Featured

Fraud and Fear: COVID-19 Scams

In April 2020, German health authorities were baffled when they discovered that 2.4 million euros worth of medical masks disappeared…

Investment Funds and AML

Given the increase in money laundering scandals and investigations in the banking sector, money launderers have started to funnel illicit funds through the investment fund industry…

From the Director of Editorial Content

Egmont Admonition: A Reminder That AML Can Be Misused

I write often and hopefully about the rising acceptance throughout the world of anti-financial crime standards…

From the Editor

Fear Factor

If you ask me about fear, one experience leaps out in my life—the first time I went bungee jumping. I went with a group of friends and each of us paid for six jumps…

COVID-19 and The Sexual Exploitation Of Children Online

The COVID-19 crisis triggered an unprecedented rise in the production and distribution of child sexual abuse material, child sexual exploitation material, live streams of child sexual abuse and, especially, self-generated sexual content involving children…

Investment Funds and AML

Given the increase in money laundering scandals and investigations in the banking sector, money launderers have started to funnel illicit funds through the investment fund industry, a channel proven to be susceptible to the placement, layering and/or integration phases of money laundering…

The AML Implications of the Human Egg Trade

The money laundering process typically involves the furtive introduction of illegitimate funds into the legitimate financial system and the steps taken by bad actors to distance themselves from the illegal sources of these funds…

Sanctions: OFAC Penalties on European Companies

The relationship between the US and the EU has undoubtedly been friendly. However, the recent sanctions regime implemented by the Office of Foreign Assets Control (OFAC) of the US Treasury Department has created friction with the EU’s blocking statute…

The FinCEN Files and the Risk of Correspondent Banking

The Financial Crimes Enforcement Network (FinCEN) Files investigation is the latest publication by the International Consortium of Investigative Journalists (ICIJ) that reveals how certain flows of funds are suspected to be connected to financial crime, money laundering, terrorist financing and/or corruption…

Dan Benisty: Compliance as a Personal Ambition

Dan Benisty is the director of compliance for the anti-money laundering and counter-terrorist financing (AML/CTF) program for the Northern European region at Western Union. Benisty is a co-founder and president of the ACAMS France Chapter..

ACAMS Ireland Chapter: A Look Ahead

The ACAMS Ireland Chapter is celebrating its sixth anniversary! The chapter is excited to share its experience and that of the community in Ireland…

ACAMS Netherlands Chapter: 10th Anniversary

Early in 2011, the current chair of the ACAMS Netherlands Chapter, Yevgeniya Balyasna-Hooghiemstra, was invited to help establish a chapter in the Netherlands, Belgium and Luxembourg (aka Benelux)…

ACAMS Poland Chapter: Event Highlights

On 26 November 2020, the ACAMS Poland Chapter celebrated its second-year anniversary. Since it launched, the chapter has created the most significant community of anti-money laundering (AML) and financial crime compliance (FCC) professionals in Poland…

Andreia Amaro, CAMS—Bragança, Portugal

Andreia Amaro is a compliance officer focused on anti-money laundering (AML) and counter-terrorist financing (CTF)…

Migdalia Rojas, CAMS—Fyllingsdalen, Norway

Migdalia Rojas has over 14 years of experience in the anti-financial crime (AFC) industry. She is a Spanish, English and French translator, as well as a lawyer from her homeland Venezuela…

Giuseppe Sollazo, CAMS—Milan, Italy

Giuseppe Sollazzo has over 10 years of experience in the anti-financial crime industry…

Uldis Upenieks, CAMS—Riga, Latvia

Since 2017, Uldis Upenieks has been a chief compliance officer and a member of the management board at Citadele Banka…

AML: The Risk of Investor Citizenship Schemes in Europe

The investor citizenship or ‘golden passport’ scheme in Europe became a hot topic of discussion after an investigation by Al-Jazeera in August 2020…

Fraud and Fear: COVID-19 Scams

In April 2020, German health authorities were baffled when they discovered that 2.4 million euros worth of medical masks disappeared…

Putting Out Fire: A Global Collaboration Against Human Trafficking

Exploitation, vulnerable communities and trafficking have all existed throughout history. Even now, human trafficking is one of the fastest growing crimes worldwide and the exploitation of people is widespread and ingrained in society…

Cryptocurrency Regulations: Finding the Right Balance

There are various ideas about cryptocurrencies; some claim that they are a Ponzi scheme, a scam or a bubble, others say they are the future…

Latvia: Avoiding FATF’s Grey List

In 2017, findings by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) served as encouragement and support for Latvia to initiate the needed changes to its anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing (CPF) system…

Brexit Deal: Impacts in the Fight Against Financial Crime

After years of intense negotiations, two general elections and a third prime minister, the UK finally secured a Brexit agreement with the EU on 24 December 2020, officialising its exit from the bloc…

Betrug und Angst: COVID-19 Betrugsfälle

Im April 2020 waren die deutschen Gesundheitsbehörden verblüfft, als sie entdeckten, dass medizinische Masken im Wert von 2,4 Millionen Euro verschwunden waren…

Die FinCEN Files und die Risiken des Korrespondenzbankgeschäftes

Die Recherche Financial Crimes Enforcement Network (FinCEN) Files ist die jüngste Publikation des Internationalen Konsortiums Investigativer Journalisten (ICIJ) über Geldströme, die vermutlich in Verbindung zu Finanzkriminalität, Geldwäsche, Terrorismusfinanzierung und/oder Korruption stehen…

Investmentfonds und Geldwäscheprävention

Angesichts der vielen Geldwäscheskandale und Ermittlungen im Bankensektor schleusen Geldwäscherinnen und Geldwäscher zunehmend illegale Gelder durch die Investmentfonds-Branche, die erwiesenermaßen für die Platzierung, Umschichtung und/oder Integrationsphasen von Geldwäsche anfällig ist…