Sep ’19 – Nov ’19 Issue

Issue: Vol. 18 No. 4

Featured

From the Director of Editorial Content

We Can Use More Heroes

The September-November issue 2019 of ACAMS Today  that you are holding (or reading online) focuses on sanctions but…

From the Editor

Navigating the Sanctions Labyrinth

As is true of all aspects of the financial crime prevention profession…


Inside this Edition

EB-5: Pathway to US Citizenship or Money Laundering Concern?

The U.S., Antigua and Moldova have something in common. Potential immigrants to these countries can buy their way to citizenship through programs called citizenship by investment…


Mr. Phaiboun Phongsavanh, CAMS: The Noble Goal of Financial Inclusion

ACAMS Today  sat down with Mr. Phaiboun Phongsavanh, CAMS to discuss Laos’ efforts toward anti-money laundering/counter-terrorist financing (AML/CTF) compliance and Phongsavanh…


Help Wanted: Sanctions Compliance Experts in Asia

Sanctions expertise is in short supply in Asia. How will companies manage their growing compliance risks as the U.S. ratchets up economic pressure in the region? For years, it seemed U.S…


Chak Kuong Lao, CAMS: Safeguarding Macau’s AML Effectiveness

According to a report published by Macau’s Financial Intelligence Office (GIF) in July 2019, the total number of suspicious transaction reports received by GIF during the first half of 2019…


The Australian Experience—A Conflicting Regulatory Landscape

Two flight changes, a layover, 25 hours in the air and a total travel time of over 30 hours. A recent trip to the U.S. to spend some time with the Association of Certified Anti-Money Laundering…


Malaysian Fintech Ecosystem—The New Grand Prix

Fintech is the buzzword in today’s financial services industry and is supposed to be a game changer—the revolution that is giving the financial services industry a run for its money. All these…


Small Institution Strategies for Outsourcing BSA Audits

Community bankers often ask examiners which internal audit or consulting firms they should use for Bank Secrecy Act/anti-money laundering (BSA/AML) independent testing. However…


Birth of OFAC and the Rise of Global Sanctions

In 1939, Americans were treated to a cinematic masterpiece with the premiere of The Wizard of Oz. The beloved film provided much needed escapism from the chilling geopolitical events of…


From Partnership to Progress in the Fight to End Human Trafficking

In today’s society, everything happens quickly. What is current one minute has the potential to become obsolete the next. Nowhere is this sentiment truer than it is for criminals and their…


Digital Identity and Financial Crimes

Digital identity” has replaced blockchain to become 2019’s new tech-based solution to revolutionize compliance functions from anti-money laundering (AML) to audit. However, given the…


Catching-Up After Berlin

This is the first European Connect column I am writing since our incredible Berlin conference in June. It was the Association of Certified Anti-Money Laundering Specialists’ (ACAMS) 15th


The Intent and Impact of US Sanctions on Cuba and Venezuela

National governments and international bodies like the United Nations (U.N.) and the European Union impose economic sanctions to force changes in behavior, whether that is through…


The Underappreciated Instrument of Counterterrorism Sanctions

Sanctions or restrictive measures in European Union (EU)1 terminology have become a key instrument in the toolbox of policymakers, including policymakers in the EU. Often the public…


Tim White, CAMS: Sanctions—An Essential Area Within the Financial Crime Arena

If you were to look up “sanctions expert” in the dictionary, you would see Tim White’s picture. For decades, the anti-money laundering (AML) community has seen, heard or worked with…


Steven Oxman, CAMS: Countdown to CGSS

ACAMS Today interviewed Steven Oxman, CAMS to discuss the Association of Certified Anti-Money Laundering Specialists’ (ACAMS) new certification: the Certified Global Sanctions…


Welcome ACAMS Bahamas Chapter

On Friday, May 24 at 6:00 p.m. at the British Colonial Hilton, the Association of Certified Anti-Money Laundering Specialists (ACAMS) officially launched its Bahamas Chapter. The Bahamas…


Proliferation Financing: What Financial Institutions Should Know and What They Can Do

Is it possible for a company with no website and no stated business purpose in its corporate documents—acting on behalf of a sanctioned North Korean bank—to use the U.S. financial…


Sanctions Investigations in Correspondent Banking

Investigations in correspondent banking are challenging enough without involving sanctions risk. Correspondent banking inserts a financial institution (FI) and its regulatory regime in between…


What to Expect When OFAC’s Enforcing

Would it not be super-nice if sanctions compliance came with a neat menu of do’s and don’ts? Well, it kind of does, but it involves participating in a scavenger hunt of sorts on the Office of Foreign Assets Control (OFAC) website. When You Assume…


Rohit Sharma, CAMS: Ending Financial Crime

ACAMS Today  spoke with Rohit Sharma, CAMS about what it is like to helm the leading purpose-driven organization, the Association of Certified AntiMoney Laundering Specialists…


Melissa Jameson, CAMS—New York, NY, USA

Melissa Jameson is a director at PwC’s financial crimes unit with over a decade of anti-money laundering (AML) and sanctions compliance experience within the financial services and federal…


Tanya C. McCartney, CAMS—Nassau, Bahamas

Tanya McCartney is a respected leading voice in the development of a strategic plan for the economic sustainability of the Bahamian financial services sector. She has been recognized as…


Ms. Tsai, Pei Ling, CAMS—Taipei City, Taiwan

Ms. Tsai, Pei-Ling is the prosecutor of the Taiwan Ministry of Justice Department of Prosecutorial Affairs. Ms. Tsai has extensive legal experience in economic, tax and financial crime…


Håkan Källåker, CAMS—Stockholm, Sweden

Håkan Källåker is a senior banker in Sweden with 40 years of banking experience. Källåker is a former executive vice president of Swedbank. His previous roles were as CEO, advisor and head…


A Real-Life Blueprint on AI for Sanctions Screening

I was not in the office in Cambridge the day two deadly explosions ripped through the finish line of the Boston marathon. I was working from home, fielding calls from concerned employees…


Where has your ACAMS Today been? Berlin, Cancun and Puerto Rico

CAMS Today  has gone international! In 2019, the ACAMS Today team launched two inaugural issues: ACAMS Today Europe and ACAMS Today Español. ACAMS Today Europe made its debut at…