Page 109 – ACAMS Today

Hunt for Russian Wealth Exposes EU’s Sanctions Shortcomings

April 11, 2022January 3, 2023 /Leave a comment

Russia's brutal military offensive against Ukraine has accomplished in a little more than a month what consecutive EU officials and their allies have struggled to do for more than a decade: spurred European nations to get serious about enforcing sanctions. Click here to read the...

AFC Professional of the Month

Congratulations, Annetta Davis-Francis, CAMS!

April 11, 2022December 1, 2022 /Leave a comment

Annetta Davis-Francis was nominated for April's AFC Professional of the Month for her leadership qualities and hard work in mitigating compliance, legal, regulatory and sanctions risks in her bank. In addition, Davis-Francis was recognized for her dedication as an advocate for her staff and co-workers....

Core AFC Resources

Understanding Risk: AML Versus Economic Sanctions

April 8, 2022February 23, 2024 /Leave a comment

As multilateral sanctions against Russia escalate amidst the Ukraine crisis, understanding the distinction between economic sanctions and AML compliance becomes crucial. This brief clarifies the practical differences and similarities, emphasizing the need for compliance professionals to educate stakeholders amidst evolving regulatory expectations. Unprecedented multilateral sanctions...

AFC Challenges, World Digest

How To Win a War Against Money Laundering and Financial Crimes In Pakistan

April 5, 2022May 23, 2022 /Leave a comment

Hiding the origin of illicit money and converting the money into legitimate funds or assets have a long history. In fact, the United Nations Office on Drugs and Crimes (UNODC) estimates that the amount of money laundered globally in one year is between $800 billion...

ACAMS Connection, Compliance, In Focus, Practical Solutions

Responsive Approach: Understanding Front Office Needs

April 5, 2022July 2, 2024 /3 Comments

In decades past, the banking industry has experienced pivotal changes in the way in which new businesses are acquired and operations conducted. The ever-increasing regulatory demands have created an inflow of risk and compliance specialists that drive the need to implement policies and procedures to...

ACAMS Connection, AFC Challenges, Compliance, Exclusive

Riddle Me This: Why is the Shipment Going?

April 5, 2022February 2, 2023 /Leave a comment

As discussed in a previous article, “Riddle Me This: Export Controls?”1 governments seek to accomplish national security and foreign policy goals through their control of exports. Understanding the framework and operational implications of export regulations is much like solving a riddle. Merriam-Webster defines riddle as...

ACAMS Connection, moneylaundering.com

Monaco Targets Key AML Vulnerability: Luxury Yachts

April 1, 2022January 3, 2023 /Leave a comment

The world’s largest yacht, Russian billionaire Andrey Melnichenko’s Yacht A, appears off the coast of Monaco in June 2018. Monaco extended anti-money laundering rules to luxury yacht sales and charters in February. Click here to read the full article.

ACAMS Connection, moneylaundering.com

Lithuania Plans Tighter Cryptocurrency Laws

March 31, 2022January 3, 2023 /Leave a comment

Concerns that the "exponential growth" of cryptocurrency exchanges and other virtual asset service providers, or VASPs, in Lithuania could fuel financial crime have prompted officials in the Baltic nation to fast-track legal reforms. Click here to read the full article.

ACAMS Connection, Europe Express, World Digest

AML Controls for Crypto in Europe

March 30, 2022February 2, 2023 /Leave a comment

There are specific rules in place to regulate and supervise credit institutions and payment service providers across Europe. Banks and other license holders are required to cooperate with their national supervisors, who coordinate their work through the network of national financial supervisors. The biggest European...

ACAMS Conexión, Español, moneylaundering.com

FinCEN, unidades de inteligencia financiera aliadas intimidan a las finanzas rusas

March 29, 2022February 2, 2023 /Leave a comment

Por: Valentina Pasquali La unidad de inteligencia financiera de EE.UU. esbozó planes para impulsar el intercambio de datos sobre transferencias ilícitas vinculadas a Rusia con las unidades de inteligencia de Canadá, el Reino Unido y otros siete países, semanas después de que el Kremlin desencadenara...

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