AFC Policy Archives - Page 3 of 4

AFC Policy, June - August 2019

One Year Later: The CDD Final Rule

June 26, 2019July 16, 2019 /Leave a comment

As the regulatory landscape shifts and turns in response to macroeconomic forces, technological innovation and geopolitical pressures, regulatory agencies amend existing rules and create new rules in an effort to ensure a level playing field for all. Outcomes are never guaranteed and those who follow...

AFC Policy, March - May 2019

GDPR: What it Means for AML Worldwide

March 28, 2019 /Leave a comment

To fully understand the impact the General Data Protection Regulation (GDPR)1 has on existing anti-money laundering (AML) legislation, one must understand the basic tenets of GDPR and which portions specifically apply to financial institutions. GDPR Overview GDPR went into effect on May 25, 2018,...

AFC Policy, Europe, September – November 2017

The Ultimate Beneficial Ownership Identification Requirement: Why It Matters to All of Us

September 19, 2017October 19, 2017 /Leave a comment

Money laundering, terrorist financing, evading taxes, bribery, corruption, abuse of human rights and even modern-day slavery differ in their nature, but they have some things in common: They destroy people’s lives, undermine the common values in our societies and they are facilitated by a lack...

AFC Policy, September – November 2017, Tech Scope

Why the Anti-Financial Crime Community Is Strongly Positioned for a Centralized Cross-Institutional Artificial Intelligence Platform

September 19, 2017February 15, 2022 /Leave a comment

In the present environment, roughly one in three organizations experience economic crime, only 50 percent of money laundering or terrorist financing occurrences are identified by system alerts and one in five banks are recipients of regulatory enforcement actions.1 The United Nations Office on Drugs and...

AFC Policy, September – November 2017

Carrots and Sticks…and Sanctions

September 19, 2017October 18, 2017 /Leave a comment

From behind a bank of computer monitors, performing day-to-day compliance operations, it is easy to see economic sanctions as a binary thing: sanctions targets are persona non grata, and everyone else is not. However, from a policy level, sanctions are a much more multifaceted tool...

AFC Policy, March - May 2017

Fourth time’s the charm?

March 6, 2017 /Leave a comment

In December 2016, the Financial Action Task Force (FATF) issued its Fourth Round Mutual Evaluation Report for the U.S.’ anti-money laundering and counter-terrorist financing (AML/CTF) measures. It weighs in at 14 pages of executive summary, 161 pages of the main report and 80 pages...

AFC Policy, Compliance

Remarks by Thomas J. Curry at the ACAMS 15th Annual AML and Financial Crime Conference

September 28, 2016October 3, 2016 /Leave a comment

Good morning, and thank you for having me here. It’s a pleasure to address a group of professionals who are on the front lines in the battle against some very bad actors. When I spoke with you in 2014,1 I discussed the importance of risk...

AFC Policy, June – August 2016

How high do we build the BSA wall?

May 27, 2016June 24, 2016 /Leave a comment

After months of talking politics and following the campaign, there is still no doubt over the question of who our next president will be and what policies may come into play. One particular issue that has caught the attention of voters, politicians and the...

AFC Policy, Europe, March – May 2016

How Terrorist Trends Evolve and How Financial Institutions Should Respond

March 7, 2016May 9, 2016 /2 Comments

As we move into and through 2016, the most significant terrorist threats to Western society are posed by Islamic terrorist or jihadist organizations. As evidenced by the attacks in Paris on November 13, 2015, the subsequent disruption of imminent attacks in Europe in November and...

AFC Policy, March – May 2015

Virtual Currencies Continue to Peek through the Shadows

March 3, 2015March 4, 2015 /Leave a comment

Virtual currencies burst into the public eye in the summer and fall of 2013 with headline-making enforcement actions around money laundering, narcotics trafficking and unlicensed money transmission. Initial concerns focused on the illicit threat of anonymous users permeating the dark Web to conduct nefarious...

ACAMS Today

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

Machine Learning Methods for AML

Compliance Focus on Customers With Immigrant Status

Combating P2P Payment Fraud

Tracking Crypto and Money Mules, With IRS-CI’s Guy Ficco

Florence Hui: Maximizing AFC Efficiency

Law Firms Can Offer Compliance Consulting Support for FIs

AFC Policy