Compliance Archives - Page 2 of 22

SAR Optimization: An LE Perspective

December 19, 2024March 26, 2025 /Leave a comment

This article is the second part of a two-part article on suspicious activity report (SAR) optimization for enhanced investigations. The first part of the article was published in the December 2024-February 2025 edition of ACAMS Today. Upstream analytics help optimize SAR data processing through entity...

AFC Policy, Compliance

AML/CTF Rules Guide—Executive Orders and the Rulemaking Process

December 19, 2024December 19, 2024 /Leave a comment

This article, part two of an overview of the “notice and comment” process in rulemaking, will discuss the roles of Executive Orders and the Office of Information and Regulatory Affairs in the process, as well as the three stages of the process. The first part...

Compliance, December 2024 – February 2025, Exclusive

AML/CTF Rules Guide―Effective Public Commenting

December 19, 2024December 19, 2024 /Leave a comment

On July 3, 2024, the Financial Crimes Enforcement Network published a proposed anti-money laundering/counter-terrorist financing “program” rule in the Federal Register. The publication gave the public notice of the proposed rule, invited the public to submit comments within 60 days, and provided a cost and...

Compliance, Exclusive, Tech Scope

Leveraging Strategic Intelligence in Cryptocurrency Compliance

October 29, 2024 /Leave a comment

The cryptocurrency space is evolving rapidly, making a cutting-edge compliance function essential. Instead of the reactive measures often used by traditional financial institutions and early crypto exchanges, the future lies in a proactive approach to compliance—one driven by the introduction of a strategic intelligence team....

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...

Back to the Basics, Compliance, Featured Column, Understanding AI

The Use of AI and Machine Learning in Financial Crime Compliance

October 4, 2024October 21, 2024 /Leave a comment

Nowadays, people often talk about artificial intelligence (AI) and machine learning. “Artificial Intelligence is the field of developing computers and robots that are capable of behaving in ways that both mimic and go beyond human capabilities. AI enabled programs can analyze and contextualize data to...

Breaking Barriers in AFC: Recap of ACAMS Las Vegas The Assembly

Compliance, Exclusive, Fraud

Breaking Barriers in AFC: Recap of The Assembly Las Vegas

October 1, 2024 /Leave a comment

The ACAMS Assembly Las Vegas, held from September 23-25, 2024, at the Aria Resort and Casino, presented a variety of sessions addressing important anti-financial crime (AFC) topics such as cryptocurrency, compliance regulation, suspicious activity reports (SARs), artificial intelligence (AI) and generative AI (GenAI), the FTX...

AFC Policy, Compliance, Regulatory Initiatives

Insights from FinCEN’s Year in Review 2023

September 12, 2024 /Leave a comment

Whether or not certain customer activity or behavior results in a crime, financial institutions (FIs), in fulfilling their legal obligations, must report/alert authorities about potential concerns so that they get investigated. Each year, the Financial Crimes Enforcement Network (FinCEN) publishes its Year in Review report,...

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...

ACAMS Connection, Back to the Basics, Compliance, Featured Column

MSBs Are Vital to the U.S. Economy

August 30, 2024September 4, 2024 /Leave a comment

In some underserved and underdeveloped communities in the U.S., traditional banking is not the norm and, in rare cases, may not exist at all. Residents in areas with limited access to banking services turn to money services businesses (MSBs) to meet their financial needs as...