In Focus Archives - Page 4 of 28

DNA Techniques to Combat Wildlife Crime

June 14, 2024September 3, 2024 /Leave a comment

Thousands of animals and plant parts and products are traded in Hong Kong every day. Some of this is legal, and some is not. Scientists in Hong Kong are developing DNA techniques to help stop wildlife trafficking by tracking wildlife smuggled through borders. These techniques...

ACAMS Connection, Fraud, Fraud Alert, In Focus

BaaS: How to Get it Right

June 4, 2024June 12, 2024 /Leave a comment

Banking as a service (BaaS) is “the provision of banking products and services through third-party distributors.” Partnering with a financial technology (fintech) organization allows financial institutions (FIs) to reach a larger market share and offer niche products to their customer base. In a recent trend...

ACAMS Connection, In Focus

The Mob Museum: Exploring Organized Crime’s Financial Tactics

May 20, 2024May 29, 2024 /Leave a comment

The National Museum of Organized Crime and Law Enforcement (the Mob Museum) stands out as particularly relevant to anti-money laundering professions. Located in Las Vegas, Nevada, and housed in an immaculately restored former post office and courthouse, the Mob Museum is a nonprofit organization with...

Back to the Basics, In Focus

CSAM: The Role of Social Media and Jurisdictions

April 23, 2024May 2, 2024 /Leave a comment

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...

ACAMS Connection, AFC Challenges, In Focus

Binance’s $4 Billion Federal Settlement

March 13, 2024July 1, 2024 /Leave a comment

Unlicensed money transmitting and sanctions violations by Binance Holdings Limited (Binance), the entity that operates the world’s largest cryptocurrency exchange, Binance.com, and its CEO Changpeng Zhao resulted in both the company and Zhao pleading guilty on the grounds of engagement in money laundering on November...

Europe Express, In Focus

EU’s Battle Against Wildlife Trafficking in 2024

March 4, 2024 /Leave a comment

Four elephant tusks and thousands in cash were discovered by police inside a BMW during a traffic stop on a motorway in France in 2015. Some passengers tried to reassure the police that they were antique dealers, but a police investigation uncovered that they were...

AFC Policy, In Focus, March – May 2024

The Possible Effects of the Beneficial Ownership Rule

March 1, 2024 /Leave a comment

All financial institutions (FIs) are now contending with the changes in the Beneficial Ownership Rule that went into effect on January 1, 2024. The objective of the Beneficial Ownership Rule established in May 2018 was for FIs to know the “who” of your customer’s relationships...

Fraud Alert, In Focus

The Critical Role of Device Intelligence in Catching Fraud

February 16, 2024February 16, 2024 /Leave a comment

Device intelligence, as the name suggests, is the approach of collecting all the data about a device, analyzing it and creating a digital fingerprint of the device to ascertain the identity of the user. The goal of device intelligence is to facilitate early fraud detection,...

AFC Challenges, In Focus

The Aftermath of the 1MDB Scandal

January 24, 2024January 30, 2024 /2 Comments

The 1Malaysia Development Berhad (1MDB) scandal is one of the largest financial swindles in the anti-financial crime (AFC) space in recent history. Initially launched to promote the management of savings belonging to the state through investments in shares, bonds or real estate, the sovereign wealth...

ACAMS Conexión, Acceso LatAm, Español, In Focus

Ciberseguridad en instituciones financieras

January 10, 2024 /Leave a comment

La revolución digital ha transformado la manera en que el mundo financiero opera. Esta transformación, aunque llena de oportunidades y ventajas, ha venido acompañada de un conjunto de desafíos, principalmente en el ámbito de la ciberseguridad. El aumento de las transacciones digitales y la aparición...

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