AFC Policy Archives - Page 2 of 5

AFC Policy, Europe Express, March – May 2025, Understanding AI

AI in AFC

March 19, 2025 /Leave a comment

Among the most widely discussed topics today are the opportunities provided by artificial intelligence (AI) to improve efficiency and to reduce costs. This also stands true for anti-financial crime (AFC) processes. Know your customer and transaction monitoring processes work with large amounts of data. Because...

AFC Policy, Compliance

AML/CTF Rules Guide—Executive Orders and the Rulemaking Process

December 19, 2024December 19, 2024 /Leave a comment

This article, part two of an overview of the “notice and comment” process in rulemaking, will discuss the roles of Executive Orders and the Office of Information and Regulatory Affairs in the process, as well as the three stages of the process. The first part...

AFC Policy, Compliance, Regulatory Initiatives

Insights from FinCEN’s Year in Review 2023

September 12, 2024 /Leave a comment

Whether or not certain customer activity or behavior results in a crime, financial institutions (FIs), in fulfilling their legal obligations, must report/alert authorities about potential concerns so that they get investigated. Each year, the Financial Crimes Enforcement Network (FinCEN) publishes its Year in Review report,...

AFC Policy, Compliance, Core AFC Resources, Exclusive

The Role of Accountants in Combating Financial Crimes

July 24, 2024 /Leave a comment

Accountants provide various services related to bookkeeping, accounting, budgeting and financial planning. They are seen as business enablers because they help business owners make informed decisions. Since they know the real intent and the ultimate beneficial owners behind business transactions, they have firsthand information about...

AFC Policy, Compliance, Practical Solutions

Law Firms Can Offer Compliance Consulting Support for FIs

July 2, 2024 /Leave a comment

Governments and regulatory bodies worldwide have been tightening their grip on financial markets in response to economic crises. Meanwhile, there is also the need to prevent money laundering, fraud and other financial crimes. As a result, financial institutions (FIs) are subject to many regulations, including...

AFC Policy, In Focus, March – May 2024

The Possible Effects of the Beneficial Ownership Rule

March 1, 2024 /Leave a comment

All financial institutions (FIs) are now contending with the changes in the Beneficial Ownership Rule that went into effect on January 1, 2024. The objective of the Beneficial Ownership Rule established in May 2018 was for FIs to know the “who” of your customer’s relationships...

AFC Policy, December 2023 – February 2024

FinCEN’s Beneficial Ownership: Clarity or Confusion?

December 13, 2023December 13, 2023 /Leave a comment

As of January 1, 2024, many U.S. companies will be required to report details of their beneficial owners, i.e., individuals who benefit from ownership or control of the company, to the Financial Crimes Enforcement Network (FinCEN).1 The bureau is now launching an educational outreach program...

ACAMS Connection, AFC Policy, AML Policy, Badge Bulletin, In Focus

Incorporating FinCEN’s National Priorities Into Risk Assessments

July 28, 2023October 23, 2023 /Leave a comment

The article titled “FinCEN’s AML and Terrorist Financing Priorities: An Introduction,” featured in the June-August 2022 edition of ACAMS Today,1 shared general thoughts, basic definitions and practical examples on each of the national anti-money laundering (AML) and counter-terrorist financing (CTF) priorities. This was followed by...

ACAMS Connection, AFC Policy, AML Policy, Badge Bulletin, Featured Column

FinCEN’s Drug Trafficking Organization Activity Policies

June 26, 2023July 31, 2023 /Leave a comment

The article titled “FinCEN’s AML and Terrorist Financing Priorities: An Introduction,”1 featured in the June-August ‘22 edition of ACAMS Today, shared general thoughts, basic definitions and practical examples on each of the Financial Crimes Enforcement Network’s (FinCEN) national anti-money laundering (AML) priorities. This article, the...

AFC Policy, Badge Bulletin, Featured Column, June – August 2023

FinCEN’s Proliferation Financing Prevention and Mitigation Policies

June 7, 2023July 26, 2023 /Leave a comment

The article titled “FinCEN’s AML and Terrorist Financing Priorities: An Introduction,”1 featured in the ACAMS Today Jun-Aug ’22 edition, shared general thoughts, basic definitions and practical examples on each of the national anti-money laundering (AML) priorities. This article, the eighth of the series, will discuss...

ACAMS Today

The Magazine for Career-Minded Professionals in the Anti-Financial Crime Field

AMLA’s work program and its enhanced oversight of CASPs

AML enforcement: A shift in Brazil’s luxury

The influence of emerging technologies on cybersecurity audits

AI, human accountability and company ownership

Beyond the exchange: Laundering crypto through luxury goods

Leveraging national security priorities for an enhanced counter-fraud response

AFC Policy