Mar ’13 – May ’13 Issue

Issue 12.2

Issue: Vol. 12 No. 2

Featured
Investing in citizenship

Investing in citizenship

Citizenship by Investment Programs (CIP), also known as Immigrant Investor Programs, grant citizenship to high net worth individuals who meet eligibility requirements and make significant capital investments toward…

The Secret Life of AML

SAR – By Committee

Most people generally understand the definition of a committee to mean a group of individuals organized to oversee, investigate and report on an activity; independent from the main body authorizing its…


From the Executive Vice President
Honoring Law Enforcement

A message from the Executive Vice President

I have just completed my third year as executive vice president of this tremendous organization and I remain constantly amazed on the vast array of…

From the Editor
From the Editor

From the Editor

When I was in Italy a few years ago I met a nice couple at a café who was on their way back from a year-long world tour. My first thought was: how can they afford to take a year off of work to travel the world? I…


Inside this Edition
New Unit in Argentina to Help Fight Financial Crime

New Unit in Argentina to Help Fight Financial Crime

As the year came to an end, a new crime fighting unit came to life. On December 20, 2012, resolution 914/2012 was signed into law creating Procuraduría de Criminalidad Económica y Lavado de…


Brazil: Combating Corruption and Money Laundering—A Joint Push Forward

Brazil: Combating Corruption and Money Laundering—A Joint Push Forward

Brazil represents one of the most dynamic countries in the world in terms of business opportunities. It is Latin America’s largest economy and possesses substantial natural resources and…

Social media data: The next frontier for identity verification?

Social media data: The next frontier for identity verification?

In the United States, 2.3 billion people1 are using social media. From the beginnings in 1999, when Six Degrees.com2 reached 3.5 million users, the number of recognized social media sites has…


New Bitcoin of the realm?

New Bitcoin of the realm?

Bitcoin (BTC) is an emerging payments mechanism that many, if not most, readers of ACAMS Today are unfamiliar with. Yet, it is popular enough, and well-known enough, to not only have its…


Investing in Citizenship

Investing in Citizenship

Citizenship by Investment Programs (CIP), also known as Immigrant Investor Programs, grant citizenship to high net worth individuals who meet eligibility requirements and make…


A roll of the dice

A roll of the dice

AML is craps, blackjack, poker and roulette too. The odds are that when you take a closer look at most money laundering cases — gambling will have been an element, issue or excuse. Although…

Seehanat Prayoonrat: Compliance is our key role

Seehanat Prayoonrat: Compliance is our key role

ACAMS Today had the opportunity to speak with Police Colonel Seehanat Prayoonrat, PhD (Law), secretary-general of Anti-Money Laundering Office (AMLO), Thailand’s FIU. Khun Prayoonrat…

Jeremy Thompson: Product Development Manager

Jeremy Thompson: Product Development Manager

Jeremy Thompson is the product development manager for ACAMS. He has been with the organization since 2006 and his responsibilities range from architecture and design of…

Attorney General Catherine Cortez Masto: The importance of partnerships

Attorney General Catherine Cortez Masto: The importance of partnerships

In January 2007, Catherine Cortez Masto began serving her first term as Nevada’s Attorney General. In February of 2007 she advocated for the creation of a statewide Methamphetamine…

SAR – By Committee

SAR – By Committee

Most people generally understand the definition of a committee to mean a group of individuals organized to oversee, investigate and report on an activity; independent from the main body…


New directions in alert management: Winning the quality-quantity war

New directions in alert management: Winning the quality-quantity war

As the number and complexity of sanctions increase, regulators worldwide continue to step up their scrutiny of banks and other financial institutions to ensure compliance. Considered the…


Effective AML model risk management for financial institutions: The six critical components

Effective AML model risk management for financial institutions: The six critical components

Many banks and other financial institutions are struggling to stay current with anti-money-laundering (AML) regulations. Regulators have assessed several high-profile enforcement actions, fines…

The AML working group: Cooperation and communication that benefits compliance

The AML working group: Cooperation and communication that benefits compliance

Anti-money laundering (AML) professionals have been pouring over the recent cases involving significant actions against financial institutions and money services businesses (MSBs) trying to…


Target training: Utilizing testing and reviews to target your training on key BSA/AML items

Target training: Utilizing testing and reviews to target your training on key BSA/AML items

Training is an extremely imported part of the BSA/AML program for financial institutions. Sometimes staff training itself can be challenging, but making sure the training is understood is even…


Embracing Conflict

Embracing Conflict

Conflict is part of life at any level where there are two parties that interact. We know conflict exists, but we seldom know how to best deal with it other than by instinct. In life there are numerous…


Balancing your career and education

Balancing your career and education

-A professional’s guide to CAMS exam preparation One of the most daunting challenges ACAMS members find is studying for the CAMS exam. For many of us, it has been years since we last…