In reading the articles on offer in this edition, I began thinking about effective communication and what it really entails. An example from my childhood came to mind. One of the most effective communicators I know is my mother. For as long as I can remember, she has used idioms (also known as “dichos” in Spanish). No matter the situation that my siblings or I found ourselves in, she had a ready expression at hand, to be dispensed with a fluency and rapidity as if she used the expression daily. I want to assure you that often we had never heard her use it before. She has what seems like a never-ending supply of them. Some classic idioms translated literally from Spanish that might sound familiar are “I wasn’t born yesterday”; “Who died and gave you the crown? (or who made you king?)”; and “Not all that glitters is gold.” Some obscure ones that, when translated from Spanish, might not make sense are “Who doesn’t swim drowns”; “It’s about to tell you it’s right there”; and “Gave me a cat for a hare.” I began making a list of all the sayings and still add to the list from time to time as more sayings pop up in conversations with her.
My mother’s dichos amazed me because of their effectiveness. She would use them in all types of situations and the sayings were always appropriate for the moment. They were a short, memorable way to impart wisdom or a lesson to her children.
The interesting thing about this type of communication is that it is not fit for a general audience. That is, just saying them at any random moment does not convey their meaning and can even be confusing to the listener. They are context-specific. That is what makes them so effective; some of their meaning is found in when they were used.
Like my mother’s sayings, suspicious activity reports (SARs) are not written for a general audience and are intended to be understood within a specific context. The principal story, “SARs That Count: Words Matter,” drives home the point that being an effective communicator depends on how SARs are prepped and written, specifically for law enforcement’s (LE) review. While I am not advocating the use of idioms when writing your SARs, it is important, as the authors state, “to get the basics right by addressing the 5Ws and the H” and remembering that not all LE are bankers or familiar with the entire acronym repertoire used by bankers. The authors go on to share that “a SAR cannot be considered ‘quality’ or ‘effective’ if it does not contain information useful to LE.”
Speaking of excellent communicators, I would like to congratulate our 2024 ACAMS’ Award winners. We interviewed each one of them for this edition and each of them shared some nuggets of wisdom that they gleaned from their experiences in the anti-financial crime industry. Read their interviews in the Awards section.
Effective communication is what we strive for daily at ACAMS Today, with that in mind other topics of interest in this edition are how artificial intelligence is giving people ghost confidence; the status of cannabis banking in 2024; the convergence of strict liability and balancing the cost of supply chains and more.
As 2024 draws to a close and we begin a new year, I am reminded of one of my mom’s dichos, “The years go by and leave their mark.” (In Spanish, “Los años pasan y dejan huella.”) Hopefully, 2024 left mostly good marks and 2025 will prove to be an even better year in the financial crime-fighting industry.
Wishing everyone a healthy and happy holiday season!
Karla Monterrosa-Yancey, CAMS
Editor-in-Chief
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