Practical Solutions Archives

Four Important Digital Fraud Lessons for Your Employees

August 5, 2021 /Leave a comment

The move to remote working (prompted by COVID-19) has compounded the difficulty of running a business. Many companies will remain remote after the pandemic is behind them, and keeping a remote team working effectively takes great skill. The biggest concern, though, is cybersecurity. Today’s...

June - August 2021, Practical Solutions

Deep Into the Weeds: Cannabis and Compliance

June 25, 2021 /Leave a comment

One of the few highlights in the U.S. economy in 2020 was the skyrocketing sales of legal cannabis, with the average store revenue increasing by 52% to 130% across the nation1 despite the industry’s unsure regulatory footing. Cannabis that is not classified as hemp...

June - August 2021, Practical Solutions

Post-Pandemic: Forging Partnerships for the Fraud War

June 25, 2021June 25, 2021 /1 Comment

When the COVID-19 pandemic hit the globe in late 2019, few thought it would still rage well into 2021.1 As the world faces the prolonged fallout from this virus, law enforcement and other entities are starting to take stock of the future state and...

June - August 2021, Practical Solutions

Professional Matchmaking: Harmonizing Law Enforcement Investigations

June 25, 2021June 25, 2021 /Leave a comment

Deconfliction. Private sector institutions often assume there is a primary deconfliction tool that all law enforcement in every location, from domestic to international, can access and use to connect with any and all agencies that share the same person of interest. For this reason,...

June - August 2021, Practical Solutions

Micro AML and Partnerships

June 25, 2021August 3, 2021 /Leave a comment

Is improving law enforcement’s financial investigation literacy on the “micro” level of illicit financial activities the key toward achieving “macro” results from Bank Secrecy Act/anti-money laundering (BSA/AML) compliance efforts? The following example takes a look at a real case and explores the macro and...

June - August 2021, Practical Solutions

How to Add Foundational Value to Your AML Program

June 25, 2021July 30, 2021 /Leave a comment

How does one measure value when value is different for everyone? Look at the non-fungible token, the digital work of art that sold for $69.3 million at Christie’s,1 or the Beanie Babies craze of the 1990s. This applies to anti-money laundering (AML) programs as...

Practical Solutions, Special for the Web, Understanding AI

Applying Machine Learning and RPA to Automate Financial Crime Investigations

June 24, 2021June 30, 2021 /Leave a comment

Machine learning, a powerful subset of artificial intelligence, and robotic process automation (RPA) have shown promise in addressing various automation opportunities that can benefit the financial services industry. In the Bank Secrecy Act/anti-money laundering world, financial institutions (FIs) are burdened with compliance requirements and growing...

Practical Solutions, Special for the Web

How Innovative Technologies Can Counter Emerging TBML Threats

May 28, 2021June 2, 2021 /Leave a comment

According to the Financial Action Task Force (FATF), trade-based money laundering (TBML) is defined as “the process of disguising the proceeds of crime and moving value through the use of trade transactions in an attempt to legitimize their illicit origin.”1 In summary, the primary...

ACAMS Today Europe, May - June 2021, Practical Solutions

Putting Out Fire: A Global Collaboration Against Human Trafficking

May 20, 2021May 24, 2021 /Leave a comment

Exploitation, vulnerable communities and trafficking have all existed throughout history. Even now, human trafficking is one of the fastest growing crimes worldwide and the exploitation of people is widespread and ingrained in society. Why it continues to prevail is a complex issue. Human trafficking...

ACAMS Today Europe, May - June 2021, Practical Solutions

AML: The Risk of Investor Citizenship Schemes in Europe

May 20, 2021June 14, 2021 /Leave a comment

The investor citizenship or ‘golden passport’ scheme in Europe became a hot topic of discussion after an investigation by Al-Jazeera in August 2020. Al-Jazeera’s investigative unit published the ‘Cyprus Papers.’ These leaked documents revealed how 2,500 people—including political figures, convicted criminals and money launderers—paid...

ACAMS Today

The Magazine for Career-minded Professionals in the Anti-Money Laundering Field

Following the Money Even When Its Cryptocurrency, With Gurvais Grigg

Nonprofits: Know Your Donor’s Asset Origination

The Nexus Between Ransomware, Cryptocurrency and Money Laundering

Ransomware: The Digital Battleground

Analyzing South Korea’s ‘Nth Room’ Case

Practical Solutions

Four Important Digital Fraud Lessons for Your Employees

Deep Into the Weeds: Cannabis and Compliance

Post-Pandemic: Forging Partnerships for the Fraud War

Professional Matchmaking: Harmonizing Law Enforcement Investigations

Micro AML and Partnerships

How to Add Foundational Value to Your AML Program

Applying Machine Learning and RPA to Automate Financial Crime Investigations

How Innovative Technologies Can Counter Emerging TBML Threats

Putting Out Fire: A Global Collaboration Against Human Trafficking

AML: The Risk of Investor Citizenship Schemes in Europe