To quote Bob Dylan, "The times they are a-changin'." Newspaper and magazine headlines blare out news on the latest Bank Secrecy Act/anti-money laundering (BSA/AML) fines; new currencies and payment options—options that most of us could not imagine 10 years ago—are emerging; and new money...

Standards are essential to well-understood business processes. They enable completion of routine tasks with minimal delay and critical thought so as to maximize productivity and minimize variability. One need only look to behemoths like Subway and General Motors to see the value of standardization...

Anti-money laundering (AML) models historically relied on qualitative, expert judgment components. Today, these models still rely on expert judgment but are coupled with more sophisticated scoring algorithms and have other quantitatively derived components, such as segments and thresholds. The increased sophistication of modeling techniques and...

When you walk through the doors of a casino, it is like entering a different world—one filled with chance, risk and excitement. The roulette wheels spin, the slot machines clamor for attention and the craps players call out their bets. In this world, as...