Practical Solutions Archives - Page 21 of 23

June – August 2013, Practical Solutions

Anti-money laundering transaction monitoring system implementation considerations

May 31, 2013March 10, 2022 /Leave a comment

Financial institutions rely heavily on the use of automated technology to detect unusual or suspicious activity. Notwithstanding the sizeable investments that many companies have made to implement and upgrade transaction monitoring systems, the need to validate transaction monitoring systems to ensure they are effective, comprehensive,...

Featured Articles for App Home, June – August 2013, Practical Solutions

How valuable is your risk assessment?

May 30, 2013March 19, 2018 /Leave a comment

The 2010 edition of the Federal Financial Institutions Examination Council's (FFIEC's) Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual is notable for its significant expansion of the BSA/AML risk assessment section within its Core Examination Overview—a crucial step in promoting the framework which serves as the...

March – May 2013, Practical Solutions

Effective AML model risk management for financial institutions: The six critical components

March 4, 2013March 9, 2018 /Leave a comment

Many banks and other financial institutions are struggling to stay current with anti-money-laundering (AML) regulations. Regulators have assessed several high-profile enforcement actions, fines, and penalties against financial organizations with lax controls over money laundering. Some of these actions were the result of an institution's failure...

March – May 2013, Practical Solutions

New Directions in Alert Management: Winning the Quality-Quantity War

March 4, 2013March 16, 2018 /Leave a comment

As the number and complexity of sanctions increase, regulators worldwide continue to step up their scrutiny of banks and other financial institutions to ensure compliance. Considered the initial line of defense against money laundering and terrorist financing, financial institutions have witnessed the intensified focus on...

Featured Articles for App Home, March – May 2013, Practical Solutions

SAR – By Committee

March 1, 2013March 16, 2018 /Leave a comment

Most people generally understand the definition of a committee to mean a group of individuals organized to oversee, investigate and report on an activity; independent from the main body authorizing its formation but ultimately responsible to that body. In sports, the term is often used...

Lessons learned photo for ACAMS article of building

December 2012 – February 2013, Practical Solutions

Lessons Learned from PSI Report: How to Prevent it From Happening at Your Institution

December 4, 2012March 5, 2015 /Leave a comment

Much has been written, including the 300-page U.S. Senate Subcommittee report itself, on the AML issues at HSBC. This writing includes front page news articles in major news publications, which gets management’s attention. The intent of this article is not to rehash what went wrong...

December 2012 – February 2013, Practical Solutions

Risk Modeling for Improved AML and Compliance

December 4, 2012January 14, 2020 /Leave a comment

Four years after the financial crisis, trust in the banking industry continues to plummet. While institutions struggle to keep reputational risk in check, a number of high-profile scandals this year have not only exacerbated the already negative public perception of banking but have also prompted...

Practical Solutions, September – November 2012

Changing the Identity Management Paradigm

September 13, 2012March 6, 2015 /Leave a comment

As anti-money laundering (AML) and financial crimes compliance professionals, we are focused on preventing money laundering, terrorism financing, fraud, waste and abuse. While conducting our work, we have to recognize the vulnerabilities in our current thinking about identity verification and authentication across the entire financial...

Practical Solutions, September – November 2012

A Tell by any Other Name—What a Poker Player can Teach You About Recognizing Suspicious Activity

September 13, 2012January 14, 2020 /Leave a comment

Gambling is inherently a risky business and one where the odds of success run from slim to practically none. Yet the game of poker injects both a skill element born of study and experience and the element of psychology that can significantly mitigate the risks...

Practical Solutions, September – November 2012

Revving the Innovation Engine: Software as a Service for AML and Compliance

September 13, 2012March 6, 2015 /Leave a comment

Following much criticism from federal examiners in 2010–2011, financial institutions have had to develop more effective Bank Secrecy Act and anti-money laundering (AML) compliance programs to address heightened regulation and enforcement. Meeting this challenge involves implementing business process improvements, recruiting additional staff and adopting enterprise-wide...

ACAMS Today

The Magazine for Career-Minded Professionals in the Anti-Financial Crime Field

Financial Investigations and Confiscation in Fighting Crime

Huione Group and the Rise of a Financial Crime Superhub

Offshore Trust Structures and Feeder Fund Mechanisms

One and Done: Ending the Supplemental SAR Assembly Line

Next-Generation Financial Crime Enterprise-Wide Risk Assessments

The Critical Role AFC Professionals Can Play in Sustainable Development

Practical Solutions

Anti-money laundering transaction monitoring system implementation considerations

How valuable is your risk assessment?

Effective AML model risk management for financial institutions: The six critical components

New Directions in Alert Management: Winning the Quality-Quantity War

SAR – By Committee

Lessons Learned from PSI Report: How to Prevent it From Happening at Your Institution

Risk Modeling for Improved AML and Compliance

Changing the Identity Management Paradigm

A Tell by any Other Name—What a Poker Player can Teach You About Recognizing Suspicious Activity

Revving the Innovation Engine: Software as a Service for AML and Compliance