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Community Bank and Cryptocurrency Customers

January 10, 2022January 21, 2022 /Leave a comment

Bitcoin hit an all-time high. Coinbase went public. Dogecoin has gone to the moon! These were just some of the cryptocurrency headlines flooding our news feeds earlier this year. According to Coinbase’s website, they have 73 million verified users in over 100 countries as of...

Aspects of APAC, Exclusive

How to Incorporate Money Laundering Risk Into Risk Management: Part Two

December 1, 2021 /Leave a comment

This is the second article of a three-part series that provides guidance on the practice of incorporating money laundering risk into risk management. This article will focus on formulating risk management strategies to prevent money laundering. Money Laundering Risk Management and Strategy Formulation In practice,...

AML Challenges, Exclusive

Boards of Directors: The Pandemic Is Killing Your Compliance and Regulatory Programs

November 23, 2021 /Leave a comment

This is a wake-up call to boards of directors. While you have been focused on corporate survival, the pandemic has been infecting your compliance and regulatory programs.Those whose programs were well managed1 pre-pandemic may have fared better than those with poorly managed programs,2 but business...

Exclusive, Practical Solutions

Beyond Ransomware: Navigating Threat, Risk and Damage

October 26, 2021December 8, 2021 /Leave a comment

Many Americans were still celebrating Fourth of July when they learned of another ransomware attack—one more sophisticated and with more sinister purposes than previous attacks. The “biggest ransomware attack on record”1 was carried out against Kaseya Limited (Kaseya), a Florida-based IT company. A group affiliated...

Exclusive, Practical Solutions

Cybersecurity Requires Rethinking Cybercrime Investigation

October 18, 2021December 8, 2021 /Leave a comment

Cybersecurity Awareness Month is a good time to take stock of what can be done differently to improve cybersecurity. Since this awareness event began in 2003, the cyberthreat risk has become astronomically higher. Digital assets are even more vulnerable to theft and compromise. Bad actors...

Compliance, Exclusive

A Primer on the Pandora Papers

October 8, 2021December 8, 2021 /Leave a comment

The Pandora Papers were released by the International Consortium of Investigative Journalists (ICIJ) on October 3, 2021, and consisted of 11.9 million records, of which over 6 million were paper files. Out of all the prior leaks from the ICIJ, the Pandora Papers is the...

AML Policy, Exclusive

Investment Funds and the U.S. Corporate Transparency Act

September 23, 2021 /Leave a comment

As mentioned in the “Investment Funds and AML” article published in the ACAMS Today Europe May-June 2021 edition,1 investment funds in the U.S. are not subject to the same requirements as financial institutions (FIs) in terms of ownership disclosure like they are in the...

Compliance, Exclusive

Targeting Generational Differences: Turning Fraud Prevention Into Competitive Advantage

September 14, 2021September 20, 2021 /Leave a comment

There is a new twist on the “generation gap” these days―and fraudsters are exploiting it to win, while financial services organizations (FSOs) are mining it for better personalization and competitive differentiation in their product offerings and target markets. Today virtually all FSOs, no matter their...

Back to the Basics, Exclusive

Why Cryptocurrency Matters in the AML World

August 27, 2021March 10, 2022 /Leave a comment

Since Bitcoin’s launch in 2009, cryptocurrency has driven new markets, spurred advancements in financial infrastructure and driven innovative thinking in how to meet the world’s economic needs. However, many stakeholders, including regulators, compliance professionals and law enforcement, still do not understand cryptocurrency or its anti-money...

AML Challenges, Exclusive

Marijuana Banking: The Unique Risks of Doing Business in This Growing Industry

August 16, 2021August 19, 2021 /Leave a comment

As states continue to legalize medical and recreational marijuana, a complex regulatory environment exists for both marijuana-related businesses (MRBs) and financial institutions(FIs). With 36 states and the District of Columbia having legalized marijuana in some form—including 14 states and the District of Columbia legalizing...

ACAMS Today

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

Detecting and Reporting Organized Retail Crime

DNA and the BSA

A Three-pronged Approach to Fighting Crypto Fraud

FinCEN’s AML and Terrorist Financing Priorities: An Introduction

Canada Honors Anti-human Trafficking Champion Peter Warrack

Fighting Fraud in the 2020s: All Hands on Deck for the Crime of the Century

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