AFC Challenges Archives

ACAMS Connection, AFC Challenges, In Focus

Proactive Monitoring Development

November 22, 2024December 9, 2024 /Leave a comment

In the law enforcement (LE), national security and private sector anti-money laundering (AML) world, the word “proactive” is used frequently. However, what is often called proactive in financial services is actually not that proactive at all. Within many institutions, the proactive approach consists of a...

AFC Challenges, In Focus, Tech Scope

Shaping the Regulatory Authority for Digital Assets

October 31, 2024October 31, 2024 /Leave a comment

The collapse of FTX Trading Ltd. in 20221 and Binance’s $4.3 billion settlement with the U.S. Department of Justice for violating U.S. anti-money laundering (AML) and sanctions laws2 have kept the regulation of digital assets in both the forefront of markets and regulators. This article will...

AFC Challenges

2025 Guide: Privacy Fines and Lawsuits

October 30, 2024 /Leave a comment

The landscape of privacy fines and lawsuits rapidly evolves as governments, regulators and consumers grow increasingly aware of data privacy violations. As we look ahead to 2025, several high-profile cases and legislative updates are setting the tone for stricter enforcement and bigger fines. This article...

AFC Challenges, Compliance, Understanding AI, World Digest

The Changing Landscape of Auditing AI

October 17, 2024 /Leave a comment

Financial crime compliance has been a strategic priority for all financial institutions (FIs) globally. The increased dynamism in the business landscape and the enhanced use of digitization have exposed FIs to increased levels of financial crime compliance risk globally. Considering the same fact, regulators across...

AFC Challenges, Featured Column, Fraud, Fraud Alert, Tech Scope

Combating Cryptocurrency Scams: The Fight for Justice

October 16, 2024October 16, 2024 /Leave a comment

In a testament to its growth, the valuation of cryptocurrencies has quietly surged to an astounding $2.6 trillion, a phenomenon often overlooked by many. In the 15 years since the introduction of Bitcoin, the allure of crypto among investors has sparked significant turmoil, impacting millions...

AFC Challenges, Back to the Basics, Practical Solutions

Why Continuous Learning Is Critical for AFC Professionals

October 10, 2024October 11, 2024 /Leave a comment

In the rapidly evolving field of know your customer (KYC), continuous learning and up-to-date knowledge are not just beneficial—they are essential. Yet, many KYC professionals find themselves struggling due to a lack of support and resources from their employers. Insufficient knowledge and training, along with...

ACAMS Connection, AFC Challenges, Exclusive, Global Financial Crime Review, Regulatory Initiatives

Due Diligence and Preventing the Illicit Use of the Financial System

September 23, 2024December 8, 2024 /Leave a comment

The U.S. is one of the leading, most stable and secure economies in the world. As a result, huge numbers of entities want to place their money in U.S. financial institutions (FIs). This includes legitimate individuals and businesses, but it also includes money launderers, fraudsters,...

AFC Challenges, Back to the Basics, Fraud, Fraud Alert, In Focus

AI in AFC: Beating Fraudsters at Their Own Game

September 17, 2024 /Leave a comment

Creating a legitimate-looking business entity used to be difficult. Making a fake merchant website and fabricating business operations that looked convincing enough to dupe underwriters took time and skill. Now, thanks to the emergence of generative artificial intelligence (GenAI), it is easy—and it is on...

AFC Challenges, Compliance, Exclusive

Two Viewpoints: How 9/11 Redefined Military Roles

September 11, 2024September 11, 2024 /Leave a comment

The attacks of September 11 radically transformed every aspect of life, business and governance, and its effects continue to be felt today. For members of the Armed Forces, the impact was immediate and drastic. A largely conventional force with a doctrine primarily geared for warfare...

AFC Challenges, September – November 2024

A New Approach to Casino Inherent Risk

September 5, 2024 /Leave a comment

This article offers a practical quantitative approach to computing the inherent risk associated with casinos. It allows casinos to isolate money laundering and financial crime risks better and communicate the casino risk profile to senior leadership. Determining inherent risk tends to be the most subjective...

ACAMS Today

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

Why AI is a Game-Changer in Banking’s Fight Against Money Laundering

Proactive Monitoring Development

Financial Crime Matters and Beyond: Head and Heart

A Veteran’s Journey: Converting Defense Skills to AFC

Shaping the Regulatory Authority for Digital Assets

2025 Guide: Privacy Fines and Lawsuits

AFC Challenges

Proactive Monitoring Development

Shaping the Regulatory Authority for Digital Assets

2025 Guide: Privacy Fines and Lawsuits

The Changing Landscape of Auditing AI

Combating Cryptocurrency Scams: The Fight for Justice

Why Continuous Learning Is Critical for AFC Professionals

Due Diligence and Preventing the Illicit Use of the Financial System

AI in AFC: Beating Fraudsters at Their Own Game

Two Viewpoints: How 9/11 Redefined Military Roles

A New Approach to Casino Inherent Risk