Jun ’13 – Aug ’13 Issue

Issue 12.3

Issue: Vol. 12 No. 3

Featured
RED-Handed

RED-Handed

Baseball, football, basketball, hockey, soccer and lacrosse are team sports. Although each sport is different the objective is the same — win the game. There is one interesting commonality each of these sports share…

Attack of the synthetics

Attack of the synthetics

From a reporting entity perspective, implementing terrorist finance laws or attempting to curb the crime, amounts to a vigorous scanning and name matching process. Names are obtained from open sources…


From the Executive Vice President
A Message From the Executive Vice President

A Message From the Executive Vice President

Much has happened since last year’s “Law Enforcement Edition” of ACAMS Today. We have enhanced your access to key anti-money laundering (AML)…

From the Editor
From the Editor

From the Editor

One of my hobbies is shopping (I know many of you are thinking — well of course — you are a woman); however, not all women like to shop in the sense of actually going to a shopping mall, battling…


Inside this Edition
What we see versus what you see

What we see versus what you see

In the early morning hours at a quiet neighborhood a homeowner awakes to banging on his front door. The homeowner opens his door to find a young adult male bleeding profusely on his…


Three card monte of AML

Three card monte of AML

In this old hustler’s game three cards are shifted right before your eyes with the promise of a payout if you can still pick out your card following some seemingly innocuous card shuffling. In AML a…


Monday, Monday, can't trust that day…

Monday, Monday, can’t trust that day…

The Mamas and the Papas may not have had AML in mind when they sang about Mondays, but it is a troubling day for those involved in AML investigations. “Where were you on [insert…


Attack of the Synthetics

Attack of the Synthetics

From a reporting entity perspective, implementing terrorist finance laws or attempting to curb the crime, amounts to a vigorous scanning and name matching process. Names are…


After the filing: SAR analysis from the law enforcement perspective

After the filing: SAR analysis from the law enforcement perspective

Somewhere in a secret location near Washington D.C., teams of law enforcement analysts are reviewing suspicious activity reports (SARs). Law enforcement task forces around the country…

Taiwan: A case study on a Ponzi scheme and money laundering by Dream Company

Taiwan: A case study on a Ponzi scheme and money laundering by Dream Company

This article is presented as an example of effective anti-money laundering efforts in detection and investigation when there is cooperation between private and government sectors as well…

The regulators role in BSA/AML supervision

The regulators role in BSA/AML supervision

The following article is based on a review of the testimony of U.S. Comptroller of the Currency, Thomas J. Curry, before the Committee on Banking, Housing, and Urban Affairs of the U.S…


Anti-money laundering compliance in the money services business industry

Anti-money laundering compliance in the money services business industry

Money services businesses (MSB) — including money transmitters and foreign exchange providers — are at least a multi-trillion dollar industry, ranging from small, owner-operated businesses to…

Lisa M. Grigg, CAMS: Be transparent and forthright in communications

Lisa M. Grigg, CAMS: Be transparent and forthright in communications

Lisa Grigg is the director of Fraud Investigations Group in the Global Financial Crimes Compliance Division at Bank of America Merrill Lynch. Grigg has held various prior roles at Bank of…


Karen O'Brien, CAMS: The availability of funds can often make or break a case

Karen O’Brien, CAMS: The availability of funds can often make or break a case

Karen O’Brien currently owns Global Compliance Solutions, a company dedicated to assisting businesses with anti-money laundering compliance. She previously served as a police officer…


Deborah Morrisey, CAMS: Follow the flow of Money

Deborah Morrisey, CAMS: Follow the flow of Money

ACAMS Today had the opportunity to interview Deborah Morrisey, CAMS, the assistant special agent in charge for Homeland Security Investigations in Miami, Florida about her…

Know Your Chapter – ACAMS Hong Kong Chapter First Anniversary Event

Know Your Chapter – ACAMS Hong Kong Chapter First Anniversary Event

The Hong Kong Chapter’s first anniversary event was held in the new KPMG office at Causeway Bay Hong Kong on 8 March 2013 from 5:30 pm to 7:30 pm. Over 100 chapter members and…

Meet the ACAMS Staff – Sonia Leon, Head of Latin America

Meet the ACAMS Staff – Sonia Leon, Head of Latin America

Sonia Leon was born and raised in Colombia. After studying marketing, Leon joined Kraft Foods as a sales supervisor. She was in charge of a robust product-promoter group and responsible…

Orasa Shirley Patterson, CAMS – Tampa, Florida

Orasa Shirley Patterson, CAMS – Tampa, Florida

Orasa Shirley Patterson is a senior AML compliance analyst at Citigroup in Tampa, Florida. Patterson supports the Periodic Transaction Review (PTR) by analyzing transactions and…


Robert Hawkes Whitby, ON, Canada

Robert Hawkes Whitby, ON, Canada

Robert Hawkes’ career spans 23 years in police service. He is a member of the Durham Regional Police Service, Intelligence Unit — Asset Forfeiture and the team leader for the Provincial Asset…


Tom Totton Muscat, Oman

Tom Totton Muscat, Oman

Thomas Totton is a senior banking professional with over 30 years of experience in a variety of roles for numerous financial services companies. He is a qualified banker, a Fellow of the Institute of Chartered Accountants in Ireland and a graduate from…

RED-handed

RED-handed

Baseball, football, basketball, hockey, soccer and lacrosse are team sports. Although each sport is different the objective is the same — win the game. There is one interesting commonality each of…


How valuable is your risk assessment?

How valuable is your risk assessment?

The 2010 edition of the Federal Financial Institutions Examination Council’s (FFIEC’s) Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual is notable for its significant…


Anti-money laundering transaction monitoring system implementation considerations

Anti-money laundering transaction monitoring system implementation considerations

Financial institutions rely heavily on the use of automated technology to detect unusual or suspicious activity. Notwithstanding the sizeable investments that many…

Dealing with financial sanctions – The Libyan asset freeze regime

Dealing with financial sanctions – The Libyan asset freeze regime

The obligations placed upon the financially regulated sector are many and various, and most are governed by the risk-based approach, in which the risk of dealing with a particular person…