Jun ’23 – Aug ’23

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Issue: Vol. 22 No. 3


From the Editor

Transforming AFC Through Innovative Technology

I am delighted to bring you an exciting topic in this edition: The transformative potential of quantum computing in the realm of anti-financial crime (AFC). As technology continues to evolve, we find ourselves at the forefront of a new era that promises revolutionary advancements in combating financial crimes more efficiently than ever before.

Inside this Edition


As investors and speculators continue to try cryptocurrency, bad actors continue to reinvent fraudulent schemes. A report from Solidus Lab highlighted recent trends in crypto scams, specifically the ever-growing rug pull. By definition, a rug pull is a type of crypto scam that occurs when a developer or creator advertises and markets their project’s token or coin before disappearing with the funds.

Money Laundering Enablers and Global AML/CTF Frameworks

Banks are often unwitting enablers of financial crime, but at the same time, they are our strongest defense against financial crime as gatekeepers of the financial system. Regulators hold banks accountable for complying with ever-increasing and complex regulatory requirements.

Remote Work and Information Privacy

The COVID-19 pandemic has caused a significant shift in the way we work, with the rise of remote work being one of the most notable changes. With many offices and workplaces shutting down or limiting capacity, companies were forced to adopt remote work to continue their operations, resulting in an increased reliance on technology and digital communication tools such as video conferencing, instant messaging and project management software.

The Metaverse’s Darkverse: Potential Ramifications

In its current state, the metaverse is still a concept being developed with high amounts of evolution needed in order to create an interconnected virtual world. However, the metaverses available now allow us to preview what an immersive virtual world may look like in the future.

Social Media and Regulatory Compliance

WhatsApp has more than 2 billion users across the globe. That translates to over 100 billion messages a day and over 200 billion minutes on voice and video calls. In recent years, though, its ease of use and universal reach has presented the financial services industry with a significant—and expensive—compliance problem.