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AFC Challenges, June – August 2015

The Bookie

May 27, 2015May 27, 2015 /Leave a comment

Want to lay a bet, place a wager or make a sporting event more interesting by placing money on the outcome? Call a bookie, get the line and see what happens. March Madness ended a few months ago and people across the globe checked...

Career Guidance, March – May 2015

Rocket to the Next Career Level

March 5, 2015March 30, 2015 /5 Comments

External movement has become increasingly commonplace in the compliance field in recent years. As banks and financial services firms suffer the ramifications of insufficient compliance investment, many are spending heavily in recruiting the strongest talent, often reaching outside of their institution. The trickle-down effect...

March – May 2015, Success Story

Become Inspired: AML Success Stories

March 5, 2015October 24, 2018 /Leave a comment

Our members are integral to the fight against financial crime, whether detecting a suspicious transaction, uncovering something unusual in your customer’s behavior or making a breakthrough in an investigation, you are a major player in the fight against financial crime and we salute you. ACAMS...

AFC Challenges, March – May 2015

Business Model for a Terrorist Organization

March 5, 2015March 5, 2015 /2 Comments

It has been said many times that the lifeblood of a terrorist organization is finance. If we liken a terrorist organization to a corporation, business planning would be an essential ingredient for obtaining support and measuring success. In one sense, a terrorist organization is...

AFC Challenges, March – May 2015

De-Risking: What is a community banker to do?

March 5, 2015June 13, 2017 /Leave a comment

As an employee of a community bank, I have noticed the effects of "de-risking" first hand. In the past few months my bank has received numerous walk-in customers and phone calls asking if we would bank their business type. At first I wanted to work...

Compliance, March – May 2015, Tech Scope

Machine Learning: Advancing AML Technology to Identify Enterprise Risk

March 5, 2015February 15, 2022 /Leave a comment

Money laundering is currently the third largest “business” in the world after currency exchange and the auto industry. The Financial Action Task Force (FATF) estimates money laundering to be 2 to 5 percent of the world’s gross domestic product (GDP), which amounts to $1.38...

Compliance, March – May 2015

Compliance is NOT a Cost Center

March 5, 2015April 21, 2015 /Leave a comment

"Compliance is a cost center." —Anonymous This old cliché spoken by bank executives, compliance officers and even regulators, has unfortunately become a casual phrase leveled against financial service compliance requirements in general, but particularly where Bank Secrecy Act/anti-money laundering (BSA/AML)and Office of Foreign Assets...