The ACAMS Connection is a bi-weekly e-newsletter exclusive to ACAMS members. It provides members with a snapshot of anti-money laundering (AML) current events, the latest trends in financial crime and updates on what is new to the ACAMS community. The ACAMS Connection is the trusted source by ACAMS members for staying on top of industry best practices.
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Hue Dang, CAMS-Audit, global head of New Ventures and the senior Asia Pacific (APAC) leader for ACAMS, took time to talk with ACAMS Today to discuss the association’s latest efforts in risk assessments in anti-money laundering (AML)/sanctions/suspicious activities. With New Ventures, Dang is the association’s...
In a world where financial crime is no longer an if but a when, and no longer an exception but rather an expectation, financial institutions (FIs) need to use all the tools at their disposal to stop financial crime. FIs in the current environment cannot...
The term “contextual risk” is quickly becoming a buzzword in our industry as technology advancements and data expansion continues. And while those items are important for efficiency when it comes to developing a contextual risk baseline for customers, it is important in this process not...
"If you do not change direction, you might end up where you are heading.” The quote by Lao Tzu feels appropriate considering the "If you do not change direction, you might end up where you are heading.” Lao Tzu The quote by Lao Tzu feels...
In 2016, an article in ACAMS Today provided information and tips on crafting effective resumes. Fast-forward to 2020, when the rapid spread of the COVID-19 In 2016, an article in ACAMS Today1 provided information and tips on crafting effective resumes. Fast-forward to 2020, when the...
The financial services sector, especially in the financial technology (fintech) area, has experienced a wave of layoffs lately. This article will cover six career options that are red hot right now in terms of hiring activity. If you are in the job market and are...
According to the Guinness World Records, the first paper-based currency was developed during China’s Tang Dynasty in the seventh century1 and later introduced to Europe by explorers such as Marco Polo in the 13th century, as stated by the Foundation for Economic Education.2 Fast forward...
Many U.S. financial institutions (FIs)1 are subject to the Currency and Foreign Transactions Reporting Act of 1970, better known as the Bank Secrecy Act (BSA). These FIs are required to incorporate policies, procedures and internal controls reasonably designed to assure compliance with the BSA and...
Alex Nain Saab Moránis is a Colombian businessman who illicitly obtained money from multiple millionaire contracts with the Venezuelan government. Saab was involved in two government-funded programs: Gran Misión Vivienda Venezuela, which was designed to build houses for the poor in Venezuela and Comité Local...
Payment services were long offered to companies and individuals by banks, but in the last 20 years, dedicated and specialized providers greatly expanded the market. In 2020, global payments revenues reached $1.9 trillion.1 Digital payments mechanisms include credit and debit cards as well as recent...
