AFC Challenges Archives - Page 30 of 33

AFC Challenges, Featured Articles for App Home, June – August 2013

Attack of the Synthetics

June 3, 2013April 3, 2018 /Leave a comment

From a reporting entity perspective, implementing terrorist finance laws or attempting to curb the crime, amounts to a vigorous scanning and name-matching process. Names are obtained from open sources (media), government departments (such as OFAC), and law enforcement agencies or from several lists formulated by...

AFC Challenges, Featured Articles for App Home, June – August 2013

Monday, Monday, can’t trust that day…

May 30, 2013March 16, 2018 /1 Comment

The Mamas and the Papas may not have had AML in mind when they sang about Mondays, but it is a troubling day for those involved in AML investigations. “Where were you on [insert date/time]” is the most routine question in detective work. Unfortunately, financial...

AFC Challenges, March – May 2013

New Bitcoin of the realm?

March 4, 2013September 4, 2015 /Leave a comment

Bitcoin (BTC) is an emerging payments mechanism that many, if not most, readers of ACAMS Today are unfamiliar with. Yet, it is popular enough, and well-known enough, to not only have its own Wikipedia page1 and a wiki2, but there are also online3 and print...

roll dices floating with cards and poker chips

AFC Challenges, March – May 2013

A roll of the dice

March 3, 2013March 16, 2018 /Leave a comment

AML is craps, blackjack, poker and roulette too. The odds are that when you take a closer look at most money laundering cases — gambling will have been an element, issue or excuse. Although millions visit casino resorts yearly, including those attending ACAMS conferences, most...

different passport images from various countries shown as an example

AFC Challenges, Featured Articles for App Home, March – May 2013

Investing in Citizenship

February 27, 2013January 3, 2018 /Leave a comment

Citizenship by Investment Programs (CIP), also known as Immigrant Investor Programs, grant citizenship to high net worth individuals who meet eligibility requirements and make significant capital investments toward stimulating a nation's economic development. Under eligibility requirements, applicants must pass criminal and security checks, and establish...

AFC Challenges, March – May 2013

Social media data: The next frontier for identity verification?

February 27, 2013January 3, 2018 /Leave a comment

In the United States, 2.3 billion people1 are using social media. From the beginnings in 1999, when Six Degrees.com2 reached 3.5 million users, the number of recognized social media sites has exploded to over 200 with 69 percent of all U.S. Internet users participating on...

AFC Challenges, December 2012 – February 2013, Fraud

Chapter 7 Bankruptcy—The Silence of the Frauds

December 4, 2012April 26, 2024 /Leave a comment

Bankruptcy. The word brings a heavy sigh and a roll of the eyes to those directly responsible for managing a consumer loan or credit card portfolio at a financial institution. Consumer loans are generally considered to be any loan that is not secured by a...

AFC Challenges, December 2012 – February 2013

Virtual Worlds: The New Frontier

December 4, 2012March 5, 2015 /Leave a comment

Incorporating video games into a laundryman's "wash, dry, and fold"; process might seem like a joke to some, but anyone who has spent time inside some of the more popular virtual worlds like Second Life should understand why this is not something people should brush...

AFC Challenges, December 2012 – February 2013

Drowning in PEPs

December 4, 2012March 5, 2015 /Leave a comment

All around the cobbler's bench The monkey chased the weasel The monkey thought 'twas all in fun Pop! Goes the weasel If only it were as simple as the children's rhyme, compliance officers would have it made. Unfortunately, the number of people classified as Politically...

AFC Challenges, September – November 2012

Mobile Money: Balancing Financial Integrity with Business Expediency

September 16, 2012March 6, 2015 /Leave a comment

Mobile money transfer (MMT) services have in recent years arguably been the single most effective contributor to global financial inclusion initiatives, and particularly in developing countries, have facilitated access to cheap and reliable financial services to an ever increasing unbanked population segment. Recent innovations in...