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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Last week, the Financial Action Task Force (FATF) Plenary meeting concluded with a number of "outcomes" that the public and private sectors should review and communicate to anti-money laundering (AML) professionals in financial institutions, agencies and firms. It is also essential to navigate these issues...
I just read yet another article about government prosecutors in the U.S. making clear their intention to "go after" individuals involved in corporate criminal activity. While a common action outside of the U.S., personal liability is relatively new here and presents an opportunity for the...
As we finish day three of the largest anti-money laundering (AML) conference in history, it is important to remind ourselves why this has occurred. First, the expansion of terrorism, human trafficking and overall fraud against the innocent requires a coherent and broad response. Second, we...
Our colleagues at ACAMS moneylaundering.com have been covering the recent pronouncements from the U.S. Department of Justice (DOJ) on their new policy regarding "Individual Accountability for Corporate Wrongdoing." In a speech outlining this change in focus, among other things, Deputy AG Sally Quillian said: "Effective...
As we approach the fall conference season, I want to remind everyone that you only get as much out of the experience as you put in. Here are a few recommendations to enhance the conference and post-program value. Evaluations One of the best methods to...
I am sure that by now you have read about the settlement in the Arab Bank case regarding the payment of monies to victims of attacks by Hamas. This is not about the merits of the case or the notion of holding banks responsible for...
Last week I had several opportunities to see the broad anti-money laundering (AML)/financial crime environment in action. First, I had the privilege of discussing the AML area of 2015 with a large number of examiners under the Federal Financial Institutions Examination Council (FFIEC) umbrella. We...
My colleague Kieran Beer (MLDC editor) and I spoke to a large bank audit group this week and discussed trends and themes for the rest of 2015 and into 2016. What struck me is both how many issues are challenging the anti-money laundering (AML) professional...
Several of us from the staff were honored to attend the ACAMS NY Chapter's 10th Anniversary Gala last week. It is comforting to see the dedication and commitment of anti-money laundering (AML) professionals from all parts of the community get together and celebrate their ability...
A constant challenge for ACAMS is to ensure that we provide opportunity for our members to have access to the most recent guidance, reports and analysis on relevant anti-money laundering (AML) and financial crime information. We do that through ACAMS Today, conferences, the Resource page...