Contemporary anti-money laundering and counter-terrorist financing (AML/CTF) practice has shifted toward evaluating the effectiveness of money laundering controls. In addition to the traditional output and activity measures of the Financial Action Task Force’s (FATF) 40 Recommendations,1 the current (fourth) round of evaluations also assesses...

Feedback and “war stories” from successful suspicious activity report (SAR)-based investigations are an often sought topic for ACAMS articles, conferences, seminars and presentations. Although general validation of the value of anti-money laundering/Bank Secrecy Act (AML/BSA) programs are regularly touted by law enforcement representatives, specifics are...

Does overthinking artificial intelligence result in self-inflicted suspicious activity reports (SARs)? Financial institutions not only pride themselves but are obliged to document when consumer activity goes astray. SAR authors who have an overreliance on the results of anti-money laundering (AML) detection/risk assessment software dutifully draft...