March – May 2016 Archives - Page 3 of 3

Aspects of APAC, March – May 2016

Effective Implementation of the Risk-Based Approach

March 7, 2016October 10, 2016 /Leave a comment

The risk-based approach (RBA), appearing as the first Financial Action Task Force (FATF) Recommendation, is the centerpiece of FATF’s February 2012 revision of its International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation: The FATF Recommendations. The fourth round of mutual...

Career Guidance, In Focus, March – May 2016

Retaining the Best: A Strategy for Smaller Institution Compliance Programs

March 7, 2016March 7, 2016 /2 Comments

A serious challenge facing small and mid-sized financial institutions is the loss of talented, experienced compliance personnel to competing organizations offering significantly higher salaries and more attractive benefits. It can be frustrating when a sizable amount of time, money and effort goes into the...

Compliance, Europe, March – May 2016

Enhanced Due Diligence in Managing Sanctions Risks

March 7, 2016May 9, 2016 /Leave a comment

The following article elaborates on the sanctions in force against Russia, Syria and Iran as well as those recently lifted against Belarus in March 2016, and highlights the link to exposure faced by institutions in this regard in relation to anti-money laundering and counter-terrorist financing...

AFC Challenges, March – May 2016

Dual to the death?

March 7, 2016 /Leave a comment

What do these things have in common? Complete rotor assemblies Remotely operated vehicles Storage integrated circuits manufactured from a compound semiconductor Network analyzers with a maximum operating frequency exceeding 43.5 GHz Equipment employing “optical switching” And these? Gyro-astro compasses and other devices which derive...

From the Executive Vice President, March – May 2016

With Growth Comes Opportunity

March 7, 2016 /Leave a comment

As we move further into 2016, anti-money laundering (AML) continues to dramatically grow and evolve. I am not referring to the increase in ACAMS membership (pushing toward 35,000) as much as the various subjects, entities, vulnerable products and more resources necessary to combat global...

From the Editor, March – May 2016

It’s Draft Night

March 7, 2016 /Leave a comment

The headline for this edition is a question and probably one that many of us have never thought about until recently: Fantasy sports or money laundering? When I first learned about fantasy sports I was in college. Quite a few of my friends would...