Mar ’18 – May ’18 Issue

Vol. 17 No. 2

Issue: Vol. 17 No. 2

Featured

Sluicing Public Data

Gold takes the crown for being the most useful metal on Earth. Not only is it eye-catching, making it a particularly popular choice for jewelry, but it is functionally versatile. Gold has made its way into many industries…

An offer you can’t refuse?

Initial Coin Offerings (ICOs) and Initial Token Offerings (ITOs) are recent innovations for companies to raise capital outside of traditional securities markets and funding sources (e.g., venture capital and angel investors).


From the Director of Editorial Content

We’re Here to Help With Past, Present and Future Shock

“Future shock,” according to Alvin Toffler in his 1970 book with the same title, describes the overwhelming experience…

From the Editor

Fool’s Gold

I grew up in the western United States, in a small town full of cowboys and with lots of adventuring to be had. As a child, I loved collecting things. My mother says I was…


Inside this Edition

Reputationally Exposed Persons and Corruption Risk

Most institutions are familiar with politically exposed persons (PEPs), but fewer organizations have formalized policies around a broader risk category of reputationally exposed persons…


Challenges with the CDD Final Rule Compliance

As the May 11, 2018 compliance date for the Customer Due Diligence (CDD) Final Rule draws near, financial institutions are finding challenges with complying with the Rule’s requirements…


Human Trafficking in Native American Communities

Since the Presidential Proclamation of 2010, we have annually observed January as National Slavery and Human Trafficking Prevention Month. We also recognize January 11 as National…


Seismic Monitoring and Testing: Detecting a Compliquake

One of the key elements of an anti-money laundering (AML) program is to have an independent audit function to test the AML program. Compliance testing and monitoring addresses that…


Milestone: Recent AML Developments in Taiwan

In 1996, Taiwan enacted the Money Laundering Control Act (MLCA). It was the first jurisdiction across Asia to set forth an anti-money laundering (AML)-specific legislation. In 1997…


AI Uprising: Is my job at risk?

As a senior leader within my organization, I am always thinking about ways to keep my practice and business in growth mode. After the Great Recession, I made it my mission to make my…


Attaining Success: Where do we start?

During an interview or at a party, how would you answer the question: “So, what do you do for a living?” Let us do a thought experiment. If you were at the end of your career and had…


Whales, Sharks and Flounders: Conceptualizing Real-World Money Laundering

If you are in the anti-money laundering (AML) profession there is no doubt you are familiar with the placement, layering and integration (PLI) model. It has been used by academia and in…


Lawyers, Drugs and Money: AML in Popular Media

Anti-money laundering (AML) professionals should ponder the many places where money laundering appears in television and movies. Real-world case studies based on indictments and press…


Community Bankers and Human Trafficking

So much has been published recently about human trafficking, which is a heinous crime that all of us must come together to help eliminate as best we can. The United Nations Office on Drugs…


Europe’s Largest AML Conference

The ACAMS 14th Annual European Conference, Europe’s largest anti-money laundering (AML) conference, is just around the corner and you may even be reading this issue of ACAMS Today…


Politically Exposed Persons Policy vs. Local Corruption

The politically exposed persons (PEPs) issue is a recurrent theme for the compliance community. Let us get straight to the point: In the ever-growing scope of a compliance officer’s duties…


Providing a Greater Awareness of Human Trafficking Through Education in Minneapolis

In lieu of Minneapolis hosting Super Bowl LII in February and considering the influx of human trafficking brought by a large sporting event, on January 11, the ACAMS Greater Twin Cities…


How Artificial Intelligence Can Help Overcome Challenges in Correspondent Banking Relationships

The capacity to send and receive international payments through correspondent banking is critical to the global economy as financial institutions rely on these relationships to move their…


Assessing Terrorist Financing Through the Lens of the Terrorist Attack Cycle

As we move through 2018, we continue to witness the evolution and devolution of different terrorist organizations. For example, when the Islamic State of Iraq and Syria (ISIS) established their…


Final Rule: Achieving Successful Implementation

As the May 11 deadline is approaching, covered financial institutions (FIs), such as banks, federally insured credit unions, dealers in securities or brokers, and others, are putting the…


Sluicing Public Data

Gold takes the crown for being the most useful metal on Earth. Not only is it eye-catching, making it a particularly popular choice for jewelry, but it is functionally versatile. Gold has made its way…


David Sanchez Lopez: AML Challenges in France

ACAMS Today spoke with David Sanchez Lopez, ACAMS’ European account manager, about how the anti-financial crime (AFC) industry has evolved in Europe and the challenges…


Mustapha Bouzizoua—Paris, France

Mustapha Bouzizoua joined HSBC Private Bank (France) in 2014. He is a financial crimes compliance officer (focusing on anti-money laundering/counter-terrorist financing [AML/CTF]…


Dominic Hurtubise, CAMS—Montreal, Canada

Dominic Hurtubise joined Desjardins Group (the largest cooperative financial group in Canada) in 2014. As a compliance director, he is responsible for the development, implementation…


Scott Karem, CAMS—Louisville, KY, USA

Scott Karem began his career in military law enforcement after graduating from the University of Louisville in 1995. After leaving the service, Karem began working in the banking industry with…


An offer you can’t refuse?

Initial Coin Offerings (ICOs) and Initial Token Offerings (ITOs) are recent innovations for companies to raise capital outside of traditional securities markets and funding sources (e.g., venture…


Where has your ACAMS Today been? Take Our Daughters and Sons to Work Day

On February 2, 2018, ACAMS participated in Take Our Daughters and Sons to Work Day, an education program in the U.S., Canada and Australia where parents take their children to work for one…