ACAMS Today Europe 2022

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Vol. 4 No. 1 – ACAMS Today Europe

Featured Articles

Harmonisation of the EU AML Framework

Whilst the EU’s anti-money laundering (AML) directive has been in existence since 1991,1 the framework has continued to evolve over the past 30 years. The European Commission has implemented the Financial Action Task Force (FATF) recommendations whilst increasingly adopting its own standards and best practices to meet the political and economic requirements of its 27 member states.

Italy: The Mafia’s Infiltration Into Healthcare

Organised crime has a triple interest in the direct and indirect management of health services in Italy. First, there is interest because of the huge amount of money that revolves around these services, which can guarantee large profits for gangs. Second, investment in health is a fairly easy way to launder the proceeds of illegal activities derived mainly from drug trafficking.


From The Director Of Editorial Content

Russia’s Ukraine Invasion Spurs on a United Europe

In 31 March, ACAMS was privileged to host the “Anti-Financial Crime Symposium—Baltics” in Vilnius. About 250 Lithuanian, Latvian and Estonian anti-financial crime (AFC) professionals from the private sector and government were delighted by the opportunity to meet face-to-face for the first time in more than two years. Their joy, however, was mixed with a grim resolve to implement the numerous and complex sanctions imposed on Russia by the EU, the US and others in response to the invasion of Ukraine on 24 February.

From the Editor

The Long and Winding Road to Anti-financial Crime Harmony

Music is an important part of many people’s lives. The first time I heard a live duo was on the playground in elementary school. I loved swinging and there were only a few swings available during recess for the entire school. Of course, if you were lucky to get one of those coveted swings, it always came with a duo concert from Justin and Scott singing songs from Metallica and Guns N’ Roses at the top of their lungs.


Inside this Edition

Institution-related Trafficking: Ukrainian Children at Risk

A month after the invasion of Ukraine, more than seven million people had been displaced as a direct result of the war, according to the International Organisation for Migration (IOM). The United Nations High Commissioner for Refugees (UNHCR) highlighted that most displaced people and refugees are women and children.

Antiquities, NFTs and How Criminals Exploit Art

It may seem strange to view unearthed relics from past empires or civilisations in the same light as other illicitly trafficked goods such as drugs or weapons, but this would be a mistake. Despite a major crackdown in 2020 that saw over 100 individuals arrested and more than 19,000 artefacts recovered worldwide, the global market for illegal antiquities is thriving like never before.

France: The Risks of Outsourcing AML Tasks

In today’s world, decentralisation and globalisation are universally accepted values. Indeed, manufacturing a single pair of jeans involves multiple actors from around the world. “It is estimated that for some [jeans], if you were to put each one of them end to end, the jeans would stretch in kilometres, one and a half times around the world (i.e. 65,000 km!).”

The Evolution of Social Fraud

Fraud can be simply described as the act of deception for personal gain. Acts of deception usually involve victims, either individuals or businesses. In most fraud occurrences, the primary motive and gain is financial. However, data has also become the primary target of fraudulent acts.