Regulatory Initiatives Archives

AFC Challenges, Exclusive, Regulatory Initiatives

Trade Surveillance: The Complexity of Modern Market Manipulation

July 16, 2024 /Leave a comment

Recent expensive enforcements involving major financial institutions (FIs) like JPMorgan Chase & Co. (JPM) and Goldman Sachs (GS) underscore the profound risks associated with incomplete data reporting and inadequate surveillance mechanisms that are not capable of adapting to the strategies in use today. In the...

June – August 2024, Regulatory Initiatives

Basel III Endgame: Preventing Another Recession

June 14, 2024 /Leave a comment

U.S. banks are feeling pressure from all sides. The emergency Bank Term Funding Program, launched on March 10, has concluded. In addition, the Financial Crimes Enforcement Network’s beneficial ownership reporting rules became active in 2024. The Basel III endgame, previously introduced in Europe under the...

March – May 2024, Regulatory Initiatives

FedNow Is Here

March 1, 2024June 3, 2024 /Leave a comment

First announced by the Federal Reserve Bank (Fed) in August of 2019, the first phase of FedNow, a new settlement product, went live on July 20, 2023. FedNow joins similar platforms that are already in existence across Europe and Asia, such as Single Euro Payments...

December 2023 – February 2024, Regulatory Initiatives

AI and the FDIC’s Disaster-related Regulatory Adjustment

December 13, 2023June 3, 2024 /Leave a comment

In September, the Federal Deposit Insurance Corporation (FDIC) decided to ease regulatory restrictions on banks and financial institutions (FIs), particularly in the context of disaster relief, an important and needed practice.1 Essentially, the FDIC extended the reporting time for risk conditions and the overall health...

December 2023 – February 2024, Regulatory Initiatives

The ISO 20022 Payment Standard: A Paradigm Shift

December 13, 2023June 3, 2024 /Leave a comment

Editor’s note: Survey distribution, analysis and results were compiled by the author. The views and results expressed are solely those of the author and are not meant to represent the opinions of ACAMS. The cross-border payments market was estimated to be worth $150 trillion in...

ACAMS Connection, ACAMS Today Europe 2022, Regulatory Initiatives

Harmonisation of the EU AML Framework

June 6, 2022February 2, 2023 /1 Comment

Whilst the EU’s anti-money laundering (AML) directive has been in existence since 1991,1 the framework has continued to evolve over the past 30 years. The European Commission has implemented the Financial Action Task Force (FATF) recommendations whilst increasingly adopting its own standards and best practices...

ACAMS Connection, ACAMS Today Europe 2022, Regulatory Initiatives

EU-wide Rules for Crypto Assets

June 6, 2022February 2, 2023 /Leave a comment

Crypto assets have given private individuals and groups the ability to access and provide a range of alternative financial services, which fall outside the scope of traditional banking, investments and payment services’ monopolies. In most jurisdictions, crypto assets can be used for speculative trading, payments...

December 2021 - February 2022, Regulatory Initiatives

Proliferation Financing: Revised FATF Recommendations and Challenges on the Ground

December 8, 2021March 10, 2023 /Leave a comment

On October 19, 2021, North Korea tested a submarine-launched ballistic missile. This was North Korea’s most provocative step since U.S. President Joe Biden took office, notable for two reasons. First, the ballistic missile can travel a long distance, exposing South Korea and Japan to the...

ACAMS Connection, Regulatory Initiatives, September 2021 - November 2021

The New Whistleblower Program AML Professionals Should Know

September 3, 2021February 2, 2023 /Leave a comment

The Anti-Money Laundering Act of 2020 (AMLA) is the most significant change to the U.S.’ anti-money laundering (AML) laws in more than a decade. One provision of interest to financial institutions (FIs) and AML professionals is the expansion of the Bank Secrecy Act’s (BSA) whistleblower...

June - August 2021, Regulatory Initiatives

Four Ways the AMLA Will Reduce Compliance Risk and Costs

June 25, 2021June 3, 2024 /Leave a comment

Either by explicit design or indirectly, several provisions in the Anti-Money Laundering Act of 2020 (AMLA)1 are expected to reduce compliance costs and compliance risks2 for banks, capital markets firms and other financial institutions (FIs) subject to BSA compliance program requirements. Congress has previously acknowledged...

ACAMS Today

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

Machine Learning Methods for AML

Compliance Focus on Customers With Immigrant Status

Combating P2P Payment Fraud

Tracking Crypto and Money Mules, With IRS-CI’s Guy Ficco

Florence Hui: Maximizing AFC Efficiency

Law Firms Can Offer Compliance Consulting Support for FIs

Regulatory Initiatives