Dec ’20 – Feb ’21

AT_v20_n1

Issue: Vol. 20 No. 1

Featured

From the Director of Editorial Content

Worst of Times?

By any measure, this has been a year that has tested us all, as several articles in this December 2020-February 2021 issue of ACAMS Today make clear…

From the Editor

The Aromas of Baking

Baking—one of my favorite things to do, especially toward the end of the year. The aromas of cookies, bread, cinnamon rolls and pies all evoke pleasant memories of times…


Inside this Edition

Lessons in Regulation for the Art Industry

On July 29, Sotheby’s held the first-ever global art auction livestreamed on the internet. It was a resounding success, highlighted by the sale of a Francis Bacon triptych for $84.6 million…


Older, Wiser and At Risk: How to Protect Against Elder Abuse

When we think about retirement and our golden years, we often picture a happy existence…


The Shadowy World of Illicit Finance

The illicit economy involves any activity done in the shadows that is not regulated or reported to law enforcement…


Shake, Bake and Launder

The culinary world is full of seemingly endless possibilities for chefs to create exponentially different dishes using the same set of ingredients…


Ghost in the Machine

Some, perhaps many readers of a certain age in the 1980s, will note that I lifted this article’s title from The Police’s fourth album…


Kimihiro Mine: Cooperation in the Crypto Industry

On June 24, 2020, Kimihiro Mine, president of bitFlyer, Inc., was appointed chairman of the Japan Virtual Currency Exchange Association (JVCEA)…


2020 Visions

As a result of the COVID-19 pandemic, 2020 was marked by many quarantining at home worldwide to combat the spread of the virus…


AML’s Decorated Dozen

For four years now, anti-money laundering (AML) professionals from both the public and private sectors have been nominated and selected to win the ACAMS AML Professional of the Month Award…


Project Shadow: AML Investigations Into Online Child Sexual Exploitation

Project Shadow is a public-private partnership designed to combat online child sexual exploitation in all its forms by enhancing methods to detect…


Multilateral Development Institutions and Global Financial Crime Risk Management

There is a growing consensus among financial crime compliance stakeholders that the current global framework for anti-financial crime (AFC) is not as effective as it could be…


Hindsight for the U.S. in 2020

Not only will 2020 go down as one of the most difficult years in world history due to the COVID-19 pandemic…


Zambia’s Evolving AML/CTF Landscape

In 2010, an article was published in the December-February issue of ACAMS Today, titled “Financial intelligence unit—The Zambian…


Introducing the ACAMS Barbados Chapter: The Caribbean Hub

On Friday, May 31, 2019, ACAMS officially launched the Barbados Chapter, which will serve as an anti-money laundering/counter-terrorist financing (AML/CTF) hub in the Caribbean…


Janelle Leow, CAMS: Fostering Growth Within ACAMS

ACAMS Today interviewed Janelle Leow, ACAMS’ senior manager of the global data governance, report and training team based in Singapore…


Darcy Allen, CAMS—Bentonville, AR, USA

Darcy Allen has over 25 years of anti-money laundering (AML) experience spanning government, consulting, banking and retail…


Becky H. Gondosch, CAMS—Brooklyn, OH, USA

Becky H. Gondosch, CAMS is senior vice president and director, anti-money laundering (AML) operations and transformation at KeyBank…


Cindy H. Scotland—Grand Cayman, Cayman Islands

Cindy Scotland was appointed managing director of the Cayman Islands Monetary Authority in June 2000…


Know the Bad Guys: Balancing Inclusion and Risk Management

Peace and prosperity are two ideas that are so often paired they constitute a cliché. They are appealing because their essential opposites, violence and poverty, are instinctively feared…


Best Practices for Corporate Monitorship

Corporate monitorships challenge companies in unique ways. Typically, a past misconduct will be identified and orders will subsequently be issued to remediate it…


Regtech: Thinking Beyond Plug-and-Play Solutions

Compliance systems’ technical limitations are both well-documented and perpetually frustrating to banks, corporations and regulator…


AML in Asia Pacific: 2020 in Review

2020 will be remembered as the year the world changed abruptly. In late January, just after the Chinese New Year, the coronavirus pandemic erupted and spread worldwide…


Unity Across the Union

The European Commission issued its action plan for a comprehensive European Union (EU) policy on preventing money laundering and terrorist financing in May 2020.1


AML and AFC in China’s Internet Financial Services

Internet financial services have been in the world for years. As a result, criminals have taken advantage and used these services to facilitate money laundering and other financial crime…


EMEA Roundup: Winter Updates From the ACAMS EMEA Team

The world is going through another wave of COVID-19 and many countries are in a second lockdown at the time of this publication…


Practical Machine Learning: Advanced Techniques to Gain Alert Efficiencies

The anti-money laundering (AML) community is drowning in false positives. A 2018 review by Microsoft found most transaction monitoring systems have a 95%-99% false positive rate…