World Digest Archives

Rise in Check Fraud: Navigating Social Media Financial Trends

December 10, 2024December 11, 2024 /Leave a comment

The banking industry faces an unprecedented challenge in 2024: protecting both its youngest professionals as well as its youngest clients from the deluge of questionable financial “advice” flooding social media. JPMorgan Chase’s recent lawsuits against customers who exploited a viral ATM “hack” highlight a disturbing...

AFC Challenges, Compliance, Understanding AI, World Digest

The Changing Landscape of Auditing AI

October 17, 2024 /Leave a comment

Financial crime compliance has been a strategic priority for all financial institutions (FIs) globally. The increased dynamism in the business landscape and the enhanced use of digitization have exposed FIs to increased levels of financial crime compliance risk globally. Considering the same fact, regulators across...

Europe Express, September – November 2024, World Digest

Is AI Incompatible With the GDPR?

September 5, 2024 /Leave a comment

ChatGPT suffers from hallucinations―an ailment that its creator, OpenAI, is unable to cure. It is under these pretenses that in April 2024, the Austrian data privacy nonprofit organization, NOYB, founded by privacy activist Max Schrems, filed a complaint against OpenAI with the Austrian Data Protection...

ACAMS Connection, Aspects of APAC, Fraud, Fraud Alert, World Digest

Human Trafficking Scam Trade

July 30, 2024August 7, 2024 /1 Comment

Cyber slavery is a new crime that emerged in 2022. It involves fraud, human trafficking (HT), modern slavery, cryptocurrencies and money laundering, hereby referred to as the “HT scam trade.” The HT scam trade or cyber slavery involves victims being held captive in scamming compounds...

AFC Challenges, Compliance, Fraud, Fraud Alert, World Digest

Combating P2P Payment Fraud

July 19, 2024 /Leave a comment

With innovation in the financial technology (fintech) world in the last decade, peer-to-peer (P2P) payments have gained significant popularity. P2P payments are almost conducted in real time, making them convenient for consumers with their speed. Digital P2P’s origin dates to the early 2000s, with the...

AFC Challenges, Aspects of APAC, Global Financial Crime Review, World Digest

Anti-Social Forces in Japan: Name screening and Monitoring

June 24, 2024June 24, 2024 /Leave a comment

Editor’s note: This is the second part of the "Anti-Social Forces in Japan: Financial Crime Implications" article published in the ACAMS Today June-August 2024 issue. While the boryokudan and junboryokudan members deserve much attention for their activities in the financial crime scene, especially for money...

Aspects of APAC, World Digest

Neither Skill nor Chance—The E-Gaming Industry Conundrum

June 18, 2024 /Leave a comment

Over the last few months, there has been a debate in the electronic gaming (e-gaming) industry regarding its regulation. The Ministry of Electronics and Information Technology (MeitY) of the Union Government of the Republic of India was initially open to light-touch regulation through a self-regulatory...

Europe Express, June – August 2024, World Digest

European Football Clubs Under AFC Regulation

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

It does not take an expert in football (or soccer, as it is known in some parts of the world) to recognize that the sport has a corruption problem. From the widely reported 2015 FIFA corruption scandal to the controversial awarding of the FIFA World...

ACAMS Connection, AFC Challenges, Europe Express, World Digest

Europe’s PEP List Debate

April 12, 2024June 14, 2024 /Leave a comment

Qatargate sent shock waves around the EU and served as a pertinent reminder of the heightened corruption risks posed by politically exposed persons (PEPs). The status of a PEP figure like Eva Kaili, former European Parliament member, is associated with privileged decision-making powers, accompanied by...

ACAMS Connection, Europe Express, March – May 2024, World Digest

Banking Cannabis: The Issue of Dutch Coffee Shops

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

Growing cannabis in the Netherlands is illegal, yet over 500 coffee shops can legally sell the drug throughout the country. This bizarre duality, also known as gedoogbeleid, or tolerance policy, criminalizes the growing and sourcing of cannabis while authorities turn a blind eye to its...

ACAMS Today

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

Why AI is a Game-Changer in Banking’s Fight Against Money Laundering

Proactive Monitoring Development

Financial Crime Matters and Beyond: Head and Heart

A Veteran’s Journey: Converting Defense Skills to AFC

Shaping the Regulatory Authority for Digital Assets

2025 Guide: Privacy Fines and Lawsuits

World Digest