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Four Important Digital Fraud Lessons for Your Employees

August 5, 2021 /Leave a comment

The move to remote working (prompted by COVID-19) has compounded the difficulty of running a business. Many companies will remain remote after the pandemic is behind them, and keeping a remote team working effectively takes great skill. The biggest concern, though, is cybersecurity. Today’s...

Compliance, Exclusive

Gold and Diamonds on the Blockchain: Fighting Fraud With New Technology

July 26, 2021 /Leave a comment

First it was money, now it is gold and diamonds. Yes, even precious metals have turned digital! Contracts for differences on gold and silver are available to trade with on various cryptocurrency exchanges like CEX.IO.1 Not only metals, but diamonds are now available on...

AML Challenges, Exclusive

Could Blockchain Hacks Mean the End of the Cryptocurrency Era?

July 7, 2021July 22, 2021 /Leave a comment

By now, the myth that cryptocurrency is entirely bulletproof has hit the rocks. Even as crypto hacks become rampant, the “experts” tread the wary path of caution. Coinbase's Brian Armstrong has said1 he could not prove that a mathematical formula to compromise Bitcoin keys does...

AML Challenges, Exclusive

Hide-and-Seek: Layering Illicit Funds Via Securities Trading in the Market

June 14, 2021June 25, 2021 /2 Comments

Picture a chase scene in an action movie: Hounded by the good guy, the bad guy is running between buildings and crossing streets without waiting for red lights. Suddenly, he reaches a market and disappears into the crowd. Similarly, money launderers exploit the financial markets...

Exclusive, Regulatory Initiatives

The AMLA Targets Anonymous US Shell Companies, But Can It Halt Illicit Fund Flows Globally?

May 28, 2021May 28, 2021 /Leave a comment

The U.S. has long had a problem with shell companies, a loophole that has been overlooked in the fabric of its anti-money laundering (AML) regime. The misuse of anonymous shell companies unjustly enriches kleptocrats and criminals, allowing them to dodge taxes, skirt sanctions, as...

Compliance, Exclusive

Seven Expected Changes in AML After COVID-19

March 8, 2021April 13, 2021 /Leave a comment

The impact of COVID-19 can be witnessed in almost every industry. However, with global banks having provisioned a whopping $1.15 trillion for losses through the third quarter of 2020, it is quite visible for banks and financial institutions (FIs).1 Risks associated with terrorist financing and...

Acceso LatAm, Español, Exclusive

Origen y Evolución de la Función del Oficial de Cumplimiento

February 12, 2021July 13, 2021 /Leave a comment

A través de los años veinte se prohibió a nivel nacional la producción, venta, transporte, procesamiento y consumo de licor en EE.UU. con el fin de prevenir los efectos nocivos del consumo de alcohol en la sociedad. Al mismo tiempo emergieron bandas del crimen...

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Europe Express, Exclusive, Tech Scope

AI: The Double-Edged Sword in AML/CTF Compliance

January 27, 2021February 15, 2022 /Leave a comment

Artificial intelligence (AI) has enhanced financial services, improved regulatory compliance and more. However, AI poses an equally dangerous threat to ethical governance, data protection and cybersecurity, as well as fundamental human rights. There are over 70 proposed definitions for AI, one of which describes it...

Compliance, Exclusive

A Risk-Based Approach to a Rule-Based Standard: FATF’s Updated Recommendations on Proliferation Sanctions

January 12, 2021 /Leave a comment

The proliferation of weapons of mass destruction continues to be a dynamic feature of the global foreign policy landscape, particularly with the polarized position of major players regarding states such as Iran. Undoubtedly, this impacts the ways the Financial Action Task Force’s (FATF) standards...

Exclusive, PRACTICAL SOLUTIONS

Applying the Risk-Based Approach During a Pandemic―Lessons Learned

January 4, 2021January 6, 2021 /Leave a comment

At the onset of the COVID-19 pandemic, the U.S. government passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act was the government’s response to the rise in unemployment and a stagnant economy following a nationwide quarantine. From direct deposits...

ACAMS Today

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

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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

Exclusive

Four Important Digital Fraud Lessons for Your Employees

Gold and Diamonds on the Blockchain: Fighting Fraud With New Technology

Could Blockchain Hacks Mean the End of the Cryptocurrency Era?

Hide-and-Seek: Layering Illicit Funds Via Securities Trading in the Market

The AMLA Targets Anonymous US Shell Companies, But Can It Halt Illicit Fund Flows Globally?

Seven Expected Changes in AML After COVID-19

Origen y Evolución de la Función del Oficial de Cumplimiento

AI: The Double-Edged Sword in AML/CTF Compliance

A Risk-Based Approach to a Rule-Based Standard: FATF’s Updated Recommendations on Proliferation Sanctions

Applying the Risk-Based Approach During a Pandemic―Lessons Learned