AFC Challenges Archives - Page 28 of 36

AFC Challenges, December 2015 - February 2016

The Challenges of ID Verification When Accepting Clients

December 9, 2015December 9, 2015 /Leave a comment

Fraud involving identification documents, commonly known as ID fraud, affects a growing number of individuals and organizations around the world. Worse, the interconnected nature of today’s world has turned the problem into a truly global menace. Losses suffered as a result of ID fraud...

AFC Challenges, December 2015 - February 2016

Two Cents Worth

December 9, 2015 /Leave a comment

You toss your remaining two pennies into the tip cup on the counter at the coffee shop. Although you are feeling a bit cheap with this tip you have run out of coins. You become uncomfortable and slightly confused when the server stares into...

AFC Challenges, September - November 2015

Heist of the Century

August 25, 2015December 13, 2022 /Leave a comment

In recent years, the controls on money laundering have strengthened. Huge institutional fines, stringent rules and a climate of compliance have made it more difficult to convert large amounts of cash. Red flags go up when large dollar amounts change hands and the purchase...

AFC Challenges, September - November 2015

Virtual Currencies in the Money Laundering Cycle

August 25, 2015 /Leave a comment

Currently, virtual currency does not constitute a threat to our national security any more than the use of fiat currency. Rather, virtual currency is a tool for commerce and funding for both licit and illicit transactions. However, through our public and private relationships, we...

AFC Challenges, Exclusive, September - November 2015

Conflict and Uncertainty: Due Diligence Challenges for Marijuana-Related Businesses

August 25, 2015August 25, 2015 /Leave a comment

State and federal legislative and regulatory developments regarding marijuana continue to lead headlines across the U.S., with numerous states recently legalizing or beginning to debate potentially legalizing marijuana cultivation, distribution and consumption for medicinal and recreational purposes. Marijuana is now legal in 23 states,...

AFC Challenges, In Focus, September - November 2015

Dial-In and Cash Out: VoIP Technology and Associated Risks

August 25, 2015August 25, 2015 /Leave a comment

A sound anti-money laundering (AML) regime is one that evolves parallel to existing money laundering risks. A more robust regime proactively scans the external environment and identifies emerging risks upfront—case in point Voice over Internet Protocol (VoIP) technology. Generally, VoIP is recognized only as...

AFC Challenges, June – August 2015

Called to Testify

May 27, 2015May 27, 2015 /Leave a comment

Testifying in a legal proceeding is no walk in the park. It is serious business. As a witness, your initial encounter will most likely be with a friendly attorney whose goal is to assist you in presenting yourself as a credible witness. Unfortunately, in...

AFC Challenges, June – August 2015

Talk the AML Talk

May 27, 2015May 27, 2015 /Leave a comment

A detective sheepishly pushes a file toward me as his other hand unconsciously rises in a gesture as if to shield his eyes from the horror found within the folder. His unmistakable body language speaks as loudly as his words. He wants to unapologetically...

AFC Challenges, June – August 2015

Mobile Subscriber Registration: An Effective Tool in the Fight Against Terrorism

May 27, 2015 /Leave a comment

In my previous article “Mobile money: Balancing financial integrity with business expediency,”1 I examined the genesis and growth of mobile money in East Africa, with specific reference to the significant contribution to financial inclusion made by M-Pesa in Kenya. The article also highlighted various...

AFC Challenges, June – August 2015

The Bookie

May 27, 2015May 27, 2015 /Leave a comment

Want to lay a bet, place a wager or make a sporting event more interesting by placing money on the outcome? Call a bookie, get the line and see what happens. March Madness ended a few months ago and people across the globe checked...

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 Challenges

The Challenges of ID Verification When Accepting Clients

Two Cents Worth

Heist of the Century

Virtual Currencies in the Money Laundering Cycle

Conflict and Uncertainty: Due Diligence Challenges for Marijuana-Related Businesses

Dial-In and Cash Out: VoIP Technology and Associated Risks

Called to Testify

Talk the AML Talk

Mobile Subscriber Registration: An Effective Tool in the Fight Against Terrorism

The Bookie