June - August 2014 Archives - Page 2 of 3

In March 2012, Bank A filed a report with the anti-money laundering (AML) department of the Ministry of Justice’s Investigation Bureau (Taiwan’s financial intelligence center) with respect to suspicious transactions. According to the report, the Bank’s customer Zhong XX has been maintaining an account...

June - August 2014, Meet the ACAMS Staff

Cesar Marcelo: Accounting Department

June 6, 2014March 6, 2015

Cesar Marcelo joined the Association of Certified Anti-Money Laundering Specialists (ACAMS) as a senior staff accountant in September of 2009 and currently serves as the financial controller. As the financial controller, his responsibilities are to ensure accurate and complete monthly accounting close and preparation...

June - August 2014, Member Spotlight

Benjamin Dusenbery, CAMS—Fort Lauderdale, FL, USA

June 6, 2014May 29, 2015

After four years of active duty service in the United States Marine Corps, Dusenbery joined the Fort Lauderdale Police Department in 2002. After being promoted to detective in 2006, he served in various specialty units within the Special Investigations Division including the street level narcotics...

From the Executive Vice President, June - August 2014

Honoring Law Enforcement

June 6, 2014March 6, 2015

At the midpoint of 2014, ACAMS pauses, once again, to honor and acknowledge the brave men and women who serve society as members of law enforcement. In all parts of the global AML community, we remain challenged by terrorism, organized crime, criminals who prey...

June - August 2014, Practical Solutions

AML in Reverse

June 5, 2014March 6, 2015

Could putting your anti-money laundering (AML) investigative planning in reverse actually get it up to speed? For the most part, AML is taught and investigated from a top-down perspective. Cases are commonly designed by tracing the suspicious funds down to a culprit. This may...

From the Editor, June - August 2014

From the Editor

June 5, 2014March 6, 2015

I have always considered myself to be extremely patriotic. In fact one of my favorite holidays in the United States is the Fourth of July. I hail from a small town out west filled with cowboys, home-baked goods, yearly small town productions of well-known...

June - August 2014, Training

A Novel Idea!

June 4, 2014March 6, 2015

As the sun begins to rise, officers are lined up facing concrete and steel. They stare sharply in front of them, glaring at a thin piece of cardboard. They hear a voice over a loud speaker — “Engage at the turn.” Within a second,...

June - August 2014, Regulatory Initiatives

FinCEN Lends Support to Medical Marijuana Business

June 4, 2014March 6, 2015

For years, the cornerstone of a strong Bank Secrecy Act/anti-money laundering (BSA/AML) program was its ability to detect and prevent the sale of illicit narcotics by identifying revenues derived from criminal enterprise. With the legalization of retail marijuana in Colorado and Washington, a cautious experiment...

June - August 2014, Know Your Chapter

Your ACAMS Chapter –What You Need to Do to Be Successful

June 4, 2014March 6, 2015

A successful chapter usually equates to having the right people with the right intentions, whereby they provide anti-money laundering (AML) education and networking opportunities to their peers within their own communities. Ed Beemer’s article, So you want to start an ACAMS Chapter — What...

AFC Policy, June - August 2014

Wolfsberg Group Updates Correspondent Banking Guidelines

June 4, 2014March 6, 2015

On February 18, 2014, the Wolfsberg Group of International Financial Institutions, an industry consortium that sets international industry anti-money laundering (AML) standards, issued updates to its AML Principles for Correspondent Banking.1 The updates are in response to the increasing regulatory focus on the AML...

ACAMS Today

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

Russia’s Hope of Ice Hockey Glory Buried Under Sanctions

Trade Finance Risk and Controls

Is It “Groundhog Day” for Digital Assets?

The Rise of Real Estate Money Laundering

Choppy Waters: Negotiating the Complexities of Sanctions Due Diligence in an Uncertain World

The BSA Tractor

June – August 2014

Suspected Breach of Securities Trading Law by Wang, Et Al, of Company A

Cesar Marcelo: Accounting Department

Benjamin Dusenbery, CAMS—Fort Lauderdale, FL, USA

Honoring Law Enforcement

AML in Reverse

From the Editor

A Novel Idea!

FinCEN Lends Support to Medical Marijuana Business

Your ACAMS Chapter –What You Need to Do to Be Successful

Wolfsberg Group Updates Correspondent Banking Guidelines