Dec ’18 – Feb ’19 Issue

Issue 18.1

Issue: Vol. 18 No. 1

Featured

From the Director of Editorial Content

“Should auld acquaintances be forgot?”—Not If It Means a Lapse in CDD

Some people make New Year’s resolutions. Some, as is the case for journalists, mark the start of another cycle of Earth’s...

From the Editor

Notable Moments

Some moments are memorable, notable, noteworthy; others are learning experiences, adventures or even sorrowful. Life is filled with moments. For me, the end of the year always seems...

Inside this Edition

Wildlife Trafficking: The Urgent Challenge for AML Professionals

The pangolin—a creature found largely in Africa—is the most trafficked mammal in the world. This creature looks prehistoric, weighing anywhere from 2-33 kilograms and measuring 30-152...


The Case for Explainable AI

An “artificial intelligence (AI) summer” is a period where expectations are high and funding comes easy, where it seems almost every company is harnessing machine intelligence, and...


Art and Antiquities: Conduits for Money Laundering and Terrorist Financing

Trafficking—of blood diamonds, endangered wildlife or even humans—has garnered fierce international engagement in recent years. One under-addressed illicit trade is that of art and...


AML in Asia: 2018 in Review

The world seems more chaotic. Every day, there are money laundering and counterterrorism stories in the newspapers. The U.S. and European papers are filled with stories about the...


Straight Off the Awards’ Floor

James Paul Cummings is currently the compliance specialist at Hamby & Hengeli LLC. Prior to joining Hamby & Hengeli LLC, Cummings was a senior special agent with the U.S. Department of...


A Dozen All-Stars

Every month, anti-money laundering (AML) professionals from both the public and private sectors are nominated and selected to win the ACAMS AML Professional of the Month Award. AML...


When is the best time to apply for an AML/financial crime prevention job?

Recruiters regularly have conversations with contacts and candidates about how timing affects their job prospects. The expression timing is everything is a cliché for a reason: it is true...


Community Banking and Staff Recruitment Challenges

As banks grow (especially community banks), there comes a time when the need for an increase in staff is essential. However, convincing management that staff is needed is a major...


1984—Making the Cash Connection

Years ago, during a transformative time, Apple Computers introduced the Macintosh, which revolutionized the way people interacted and embraced technology. The Space Shuttle...


A Field Guide to the AML Sovereign Risk-Rating Agencies

Everyone familiar with finance has heard of the major debt-rating agencies, such as Moody’s and Standard & Poor’s. These agencies provide opinions about the likelihood that a borrower, including…


AML Update: What Has Changed and What Has Stayed the Same

There has been something different about money laundering compliance news in 2018. For the first time in many years, the major headlines have not been about compliance lapses of U.S…


The New Face of Drug Dealing

From a Canadian perspective, the war on drugs began in 1908 with the passing of the Opium Act and in reality, the war has never ended. Canadian drug laws have gone through several…


ACAMS Europe in 2019

You are either reading this issue of ACAMS Today  as the holiday season approaches or as 2018 recedes, and it is a natural time to take stock of priorities for the year ahead. Traditionally, we…


Time for Action in the EU’s Battle Against Money Laundering

In September 2018, the Netherlands’ largest bank, ING, received a record European fine of approximately $900 million for money laundering violations. Although ING’s fine was a particularly eye-catching figure, the money laundering violations themselves hardly felt …


Lydia Cacho: The Defender of Human Rights

ACAMS Today  sat down with Lydia Cacho at the ACAMS 17th Annual AML & Financial Crime Conference  in Las Vegas, Nevada to discuss her lifetime commitment in the fight for human rights…


ACAMS New Zealand Flagship Conference Goes From Strong to Stronger

In October 2018, over 400 attendees—both veterans and rookies in the field of anti-money laundering/counter-terrorist financing (AML/CTF)—assembled in New Zealand’s capital, Wellington...


Germany Chapter Activities in 2018

Throughout the course of 2018, the ACAMS Germany Chapter hosted five knowledge-sharing events in Frankfurt and Berlin, discussing regulatory developments around the Fifth AML...


Validating Your Casino’s Anti-Money Laundering Program

Casinos are increasingly using automation, scenarios, customer risk scoring, alert rules and similar processes as part of their Bank Secrecy Act (BSA) compliance program. The days of compliance...


From KYC to KLA: Navigating the Sea to a Safe Harbor

While financial institutions may know their customers (KYC) and dutifully identify suspicious activity, must they continue to keep law enforcement advised (KLA) of their course after they send...


Ranjit Malik, CAMS: Significant Growth in India and Beyond

ACAMS Today  spoke with Ranjit Malik, CAMS, regional director for business development in the Indian subcontinent at ACAMS, to discuss ACAMS growth in India, the South India Chapter and...


Atuweni Juwayeyi-Agbermodji, CAMS—Lilongwe, Malawi

Atuweni Juwayeyi-Agbermodji is a member of the Malawi Bar Association. She holds a master’s in public international law and is a Certified Anti-Money Laundering Specialist. She is currently...


Antonio Riggio, CAMS—Seattle, WA, USA

Antonio Riggio graduated with a Bachelor of Science from the University of Miami and a Juris Doctor, magna cum laude, from Southwestern Law School. Riggio passed the California and....


Oscar J. Minter, MBA, CAMS—Greenwood Village, CO, USA

Oscar J. Minter, CAMS is the anti-money laundering (AML) and payment card industry (PCI) compliance auditor for AAA Colorado. He is responsible to ensure the company provides the...


Angel Nguyen Swift, CAMS—New York, NY, USA

Angel Nguyen Swift, CAMS is vice president of compliance and financial crimes solutions at Enigma, an operational data management and intelligence company headquartered in New ...