Dec ’12 – Feb ’13 Issue

Issue 12.1

Issue: Vol. 12 No. 1

Featured

From the Executive Vice President
A message from the executive vice president

A message from the executive vice president

This edition of ACAMS Today is a perfect example of the breadth of issues and anti-money laundering (AML) experts that comprise the ACAMS community. Our…

From the Editor
From the Editor

From the Editor

Wanted! Award winning professionals whose efforts and talents in the field of compliance have led to recognition among their peers and confidence for their institutions. Reward! Fortune and glory…


Inside this Edition
WANTED: Award Winning Professionals

WANTED: Award Winning Professionals

ACAMS is proud of its members and their many accomplishments in the fight against financial crimes. ACAMS annually recognizes a few individuals whose donation of time and talents have…

Country Risk–Venezuela's Unsavory Relationships

Country Risk–Venezuela’s Unsavory Relationships

Despite its progress on improving AML/CFT legislation, Venezuela remains a politically high-risk country. Venezuela is portrayed by conservative academics and expert journalists as something of a…

Virtual worlds: The new frontier

Virtual worlds: The new frontier

Incorporating video games into a laundryman’s “wash, dry, and fold”; process might seem like a joke to some, but anyone who has spent time inside some of the more popular virtual worlds…


Drowning in PEPs

Drowning in PEPs

All around the cobbler’s bench The monkey chased the weasel The monkey thought ’twas all in fun Pop! Goes the weasel If only it were as simple as the children’s rhyme, compliance officers…


Chapter 7 Bankruptcy—The Silence of the frauds

Chapter 7 Bankruptcy—The Silence of the frauds

Bankruptcy. The word brings a heavy sigh and a roll of the eyes to those directly responsible for managing a consumer loan or credit card portfolio at a financial institution. Consumer loans are…

Section 314(b) Information Sharing Revisited

Section 314(b) Information Sharing Revisited

The USA PATRIOT Act was signed into law by President George W. Bush on October 26, 2001. It was enacted as a result of the terrorist attack of September 11, 2001 (9/11). With the thought…

Bank Secrecy Act 101: Six things every AML person needs to know

Bank Secrecy Act 101: Six things every AML person needs to know

While anti-money laundering (AML) specialists are not expected to be Juris Doctors, there are still many laws with which they should be intimately familiar. Of those, perhaps none is more…

Largest ACAMS conference to date

Largest ACAMS conference to date

The ACAMS 11th Annual AML and Financial Crime Conference held in Las Vegas in October was the best I ever attended. With over 1,500 people from across the globe participating in…

William J. Fox: Meet the challenge proactively

William J. Fox: Meet the challenge proactively

ACAMS Today had the opportunity to speak with William J. Fox, managing director, global financial crimes compliance executive for Bank of America and an ACAMS advisory board member. Fox…


Important aspects of risk assessment

Important aspects of risk assessment

ACAMS Today had the opportunity to participate in a roundtable about the ACAMS Risk Assessment Tool. The roundtable discussion was moderated by John Byrne, CAMS, ACAMS…


Charles Falciglia: Newly minted PEP

Charles Falciglia: Newly minted PEP

Charles Falciglia is a long-standing member of the ACAMS Editorial Task Force (ETF). Since joining the ETF in 2006, his participation and contributions to the ACAMS publications…

Congratulations to the Southern California Chapter! The 2012 Chapter of the Year Award recipient

Congratulations to the Southern California Chapter! The 2012 Chapter of the Year Award recipient

The ACAMS Southern California Chapter launched on September 16, 2009 and currently has a membership of 70. The ACAMS Southern California Chapter was formed in order to provide…

Ari House: Mentorship

Ari House: Mentorship

Ari House serves as the chief financial officer of ACAMS. He has been in this role for over three years and oversees the company’s finance, human resources and legal departments. Prior to…

Jennifer Haines, MBA Toronto, Canada

Jennifer Haines, MBA Toronto, Canada

Jennifer Haines’ career in AML has spanned various roles and countries. Haines is a global anti-money laundering manager at TD Bank Group in Toronto, Ontario supporting TD Wealth…


Mercy Buku, CAMS, LLB Hons (Nbi), ACIB (UK) Nairobi Kenya

Mercy Buku, CAMS, LLB Hons (Nbi), ACIB (UK) Nairobi Kenya

Mercy Buku joined Safaricom Limited in December 2010 as the senior manager, money laundering reporting officer, and is charged with the responsibility for overseeing the anti-money laundering…


Linda Roybal, CAMS New York, New York, USA

Linda Roybal, CAMS New York, New York, USA

Linda Roybal is an executive director of JP Morgan Chase and currently the AML training director for the company. Together with her team, Roybal leads the design, development and…

Risk modeling for improved AML and compliance

Risk modeling for improved AML and compliance

Four years after the financial crisis, trust in the banking industry continues to plummet. While institutions struggle to keep reputational risk in check, a number of high-profile scandals…


Lessons learned from PSI report. How to prevent it from happening at your institution

Lessons learned from PSI report. How to prevent it from happening at your institution

Much has been written, including the 300-page U.S. Senate Subcommittee report itself, on the AML issues at HSBC. This writing includes front page news articles in major news…