Anti-financial crime (AFC) professionals have a wealth of knowledge—but as with all trades, they do not start off that way. So where can professionals who are either new or transitioning into the industry learn introductory AFC concepts? With the Back to the Basics column, ACAMS Today will cover topics such as how to write a suspicious activity report, Bank Secrecy Act policy do’s and don’ts, why cryptocurrency matters in AML and more, all compiled in one place.
Our award-winning regular contributor is Chris Bagnall, who has spent his anti-financial crimes career taking complex problems and dissecting them into easy-to-understand formats. If you would like to contribute to this column or have any topics you would like to suggest, email editor@acams.org.
Child abuse is generally a hidden act in our society that usually happens behind closed doors and in private moments, often perpetrated by those adults who are the most trusted by their child victims. Although the online child sexual abuse methods may vary from person...
Intelligence is a cycle of gathering, analyzing and reporting information to guide operations. The most telling information, however, is often not what you have been able to gather but rather what is missing. Information without analysis is like puzzle pieces scattered on a table. Analysis...
Generative artificial intelligence (GenAI) is the most significant tech hype nowadays. Large language models became standard productivity tools, and new startups promise to revolutionize industries with GenAI. However, most existing GenAI-based products help in simple everyday tasks rather than redefining how people work. Can GenAI...
Editor’s note: This article is the second of a three-part series on child sexual abuse material (CSAM) and child sex trafficking (CST). The first part is available here. ***Disclaimer/trigger warning: This article discusses sexual offenses committed against children. Reader discretion is advised. What is sextortion?...
With the rising threat of money laundering and terrorist financing, regulators are more vigilant in preventing financial crimes. To assist the authorities in curbing these crimes, the anti-money laundering (AML) regulations mandate financial institutions, virtual assets service providers (VASPs), and certain nonfinancial businesses and professions...
The term financial technology (fintech) is many times used interchangeably when referring to regulatory technology (regtech) and supervisory technology (suptech). However, these technological solutions should not be lumped together. Let us unpack the distinct differences. What is Fintech? Fintech includes the provision of financial services...
Editor’s note: This article is the second part of a two-part series on human trafficking and terrorist organizations. The first part is available on ACAMSToday.org. Human trafficking (HT) is used by terrorist organizations to exploit individuals and to carry out or support terrorist activities. In...
Editor’s note: This article is the first part of a two-part series on human trafficking and terrorist organizations. Human trafficking (HT) constitutes a serious human rights violation and is one of the most profitable criminal enterprises, attracting both small local groups and international networks. In...
Editor’s note: This article is the first part of a three-part series on child sexual abuse material (CSAM) and child sex trafficking (CST). ***Disclaimer/trigger warning: This article discusses sexual offenses committed against children. Reader discretion is advised. "Child pornography” is a term that many of...
Many U.S. financial institutions (FIs)1 are subject to the Currency and Foreign Transactions Reporting Act of 1970, better known as the Bank Secrecy Act (BSA). These FIs are required to incorporate policies, procedures and internal controls reasonably designed to assure compliance with the BSA and...