March – May 2015 Archives - Page 2 of 3

AFC Challenges, March – May 2015

A Structure to Call Home

March 4, 2015September 4, 2015 /Leave a comment

In anti-money laundering (AML), like many other worlds, there is a tendency to chase after the latest and greatest. Talks about cyber currencies, virtual banking, smart money and the cloud would make you believe that cash drawers may soon be sold at yard sales...

AFC Challenges, March – May 2015

Original Sins

March 4, 2015March 4, 2015 /Leave a comment

An American firm retrieved the customer data from its China business unit who received it from a data warehouse in the U.K. and screened it against both a regulatory list published by the Chinese government and the Specially Designated Nationals (SDN) List from the...

March – May 2015, Practical Solutions

The Missing Piece of the Puzzle: Considering Business Intelligence in Transaction Monitoring Threshold-Tuning

March 4, 2015March 4, 2015 /Leave a comment

At the core of any financial institution’s anti-money laundering (AML) compliance department is its transaction monitoring system. The system analyzes transactional data against preset rules and generates a list of alerts for users to review. Alerts may be reviewed on a daily, weekly, or...

March – May 2015, Practical Solutions

Driving Sales Through AML Compliance Activities

March 4, 2015March 4, 2015 /Leave a comment

Pity the BSA compliance officer walking past a financial institution’s conference room at the end of a good quarter and seeing the retail folks celebrating an uptick in products and services sales. Once again the compliance group kept the regulators satisfied, identified a few...

Compliance, March – May 2015

BSA Form 8300: What Financial Institutions Need to Know

March 3, 2015March 4, 2015 /Leave a comment

With so much attention given to the Bank Secrecy Act (BSA) and currency transaction reports (CTRs), it might be interesting to learn that Form 8300 is a distant cousin to the CTR. Although Form 8300 is triggered when more than $10,000 in currency is...

AFC Challenges, March – May 2015

Confronting the Ever-Evolving Threat of Terrorism

March 3, 2015March 4, 2015 /Leave a comment

On a daily basis, media reports remind us of the brutality and barbaric reality of terrorism. Time and again, we are reminded that there are no safe havens from the reach of jihadists who use terrorism as one of many tools to achieve their...

Europe, Global Financial Crime Review, March – May 2015

Cyprus—Becoming a geopolitical hub in Europe?

March 3, 2015November 11, 2015 /Leave a comment

Cyprus is the third largest and third most populous island in the Mediterranean. It is located south of Greece and east of Turkey. The country has been a member state of the European Union since 2004 and of the eurozone since 2008. In recent years,...

March – May 2015, Regulatory Initiatives

FATF Guidance for the Banking Sector on the Application of the Risk-Based Approach

March 3, 2015March 4, 2015 /Leave a comment

In October 2014, the Financial Action Task Force (FATF) issued Guidance for a Risk-Based Approach (RBA) for the Banking Sector. This guidance updates the 2007 guidance to bring it in line with the new FATF Recommendations. This guidance is intended for the banking sector,...

AFC Policy, March – May 2015

Virtual Currencies Continue to Peek through the Shadows

March 3, 2015March 4, 2015 /Leave a comment

Virtual currencies burst into the public eye in the summer and fall of 2013 with headline-making enforcement actions around money laundering, narcotics trafficking and unlicensed money transmission. Initial concerns focused on the illicit threat of anonymous users permeating the dark Web to conduct nefarious...

Aspects of APAC, Interviews, March – May 2015

Stewart McGlynn: Improving our Fight Against Financial Crime

March 3, 2015March 4, 2015 /Leave a comment

Stewart McGlynn is the head of anti-money laundering (AML) and financial crime risk for the Hong Kong Monetary Authority (HKMA), which supervises Hong Kong’s banking sector. In this role he is responsible for directing the AML and counter-terrorist financing (CTF) supervisory program for over...

ACAMS Today

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

NPOs: Risk for Suspicious Activity

Crimen Financiero: Destrucción de la Amazonia de Brasil

CSAM: The Role of Social Media and Jurisdictions

Assembly Chatter with ACAMS Today: Amanda Cox

Assembly Chatter with ACAMS Today: Dr. Tanya McCartney

Matthew S. Axelrod on the Critical Importance of Export Controls

March – May 2015

A Structure to Call Home

Original Sins

The Missing Piece of the Puzzle: Considering Business Intelligence in Transaction Monitoring Threshold-Tuning

Driving Sales Through AML Compliance Activities

BSA Form 8300: What Financial Institutions Need to Know

Confronting the Ever-Evolving Threat of Terrorism

Cyprus—Becoming a geopolitical hub in Europe?

FATF Guidance for the Banking Sector on the Application of the Risk-Based Approach

Virtual Currencies Continue to Peek through the Shadows

Stewart McGlynn: Improving our Fight Against Financial Crime