"All the world's a stage and all the men and women merely players." Words written in England circa 1600 still resonate today. Each person plays many roles in their life. They are professionals, students, mothers, fathers, siblings, criminals and heroes. Shakespeare understood people and the human condition. He understood that regardless of our station mankind deals with the same issues and always has. He was so adept at expressing that understanding that some 400 years later audiences are still enthralled by his words.
You might be wondering what does Shakespeare have in common with anti-money laundering or the fight against financial crimes? Shakespeare was the greatest writer of the English language and as a result if you want to see one of Shakespeare's plays performed today, it is more than likely that there is a Shakespearean production somewhere near you. With that said, we can also agree that a production of financial crimes can also be found somewhere near you.
We all know who Shakespeare was, but many would be surprised to learn that he made most of his fortune not from his art but from business dealings. Like many savvy investors, Shakespeare decided to diversify his investments. He wisely invested in real estate. The famous Globe Theatre was part of what would be termed his investment portfolio. Just as Shakespeare noted in the verse "All the world's a stage," he also wisely showed in his actions that "All the world is real estate."
For the AML professional this idea presents a quandary. It is obvious that real estate, as in Shakespeare's time, remains a tempting target for those seeking to make their fortune. The compliance professional understands the ubiquitous nature of the financial crime and, human nature being what it is, the equally numerous purveyors of said crimes. The quandary is what to do with that knowledge.
The cover article all The world is real estate, outlines approaches on how to detect and deter money laundering through real estate. It points out the negative impacts that money laundering has had through real estate on the global economy. Learn what you can do to prevent money laundering through developing a risk-based approach.
The second headline article A tell by any other name sticks with our Shakespearean theme. Much like the Bard's famous Romeo and Juliet is studied for its enduring insights, another subject is presented for what it can teach to the compliance professional. All poker players have tells, how one goes about recognizing those tells can be directly applied to identifying suspicious activity in the anti-money laundering/ financial crimes field.
This issue of ACAMS Today is filled with many more articles to help the compliance professional combat financial crimes. I hope that just like Shakespeare's words still resonate today with many of us, that we as compliance professionals will still find the drive and inspiration to continue with our important mission.
We hope to see you all in Las Vegas at the ACAMS Annual Conference in September!
Also, as always do not forget to send your comments, ideas for articles and submissions directly to me at firstname.lastname@example.org.