March – May 2023 Archives - Page 3 of 3

From the Director of Editorial Content, March – May 2023

Public Interest Versus Privacy Rights Play Out in CTA

March 10, 2023March 14, 2023 /Leave a comment

In January 2021, the passage of the Anti-Money Laundering Act of 2020 (AMLA) was greeted with near jubilation by the anti-financial crime (AFC) community. Since then, regulations implementing the AMLA, specifically the Corporate Transparency Act (CTA) portion, have gotten a mixed reception from AFC professionals....

From the Editor, March – May 2023

Russia Is in the Penalty Box

March 10, 2023March 14, 2023 /Leave a comment

When you grow up in cold weather and in a place where the license plate tagline is “Greatest Snow on Earth” and where the 2002 Olympics were held, you tend to get involved in winter sports. My winter sport of choice was ice skating, but...

Global Financial Crime Review, March – May 2023

Russia’s Hope of Ice Hockey Glory Buried Under Sanctions

March 10, 2023March 14, 2023 /Leave a comment

Over the past decade and a half, some of Russia’s wealthiest and most powerful people, with the blessing of President Vladimir Putin, have been working on boosting Russia’s soft power in the world of sports. The Russian Kontinental Hockey League (KHL) was to become the...

ACAMS Connection, March – May 2023, Practical Solutions

Trade Finance Risk and Controls

March 10, 2023March 28, 2023 /1 Comment

Trade finance is described as the provision of finance and services by financial institutions (FIs) for the movement of goods and services between two points, either within a country or across borders.1 There are multiple methods by which an FI can participate in the financing...

AFC Challenges, March – May 2023

Is It “Groundhog Day” for Digital Assets?

March 10, 2023May 24, 2023 /Leave a comment

2022 was a rollercoaster year for digital asset regulation and enforcement—at times fluctuating between a “Groundhog Day”-esque barrage of been-there-before and an endless array of shock and awe. Like every February when our stout-bodied rodent friend prepares to pop out of his hole, the question...

Exclusive, March – May 2023, Practical Solutions

The Rise of Real Estate Money Laundering

March 10, 2023July 2, 2024 /1 Comment

The growth of real estate money laundering has been prevalent throughout the past 15 years as the U.S. continues to see ever-changing criminal strategies that facilitate illicit funds to move through the financial system with real estate purchases. As many bank compliance professionals can attest,...

March – May 2023, Practical Solutions

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

March 10, 2023March 14, 2023 /1 Comment

In the not-too-distant past, a large international financial institution (FI) was weighing a golden opportunity. It was asked to provide funding for a sizeable manufacturing project in Central Asia. The project appeared sustainable and well-placed to offer a solid return on investment. However, the venture...

ACAMS Connection, AFC Challenges, Badge Bulletin, Featured Column, March – May 2023

The BSA Tractor

March 10, 2023July 26, 2023 /Leave a comment

You may have read it in magazines or seen the news or videos of some altruistic country sending modern tractors to aid farmers in developing nations. It seems surprising when they return later to find all the tractors in disrepair, with some now even being...

Back to the Basics, Featured Column, Human Trafficking Awareness Month, March – May 2023, World Digest

Why Terrorist Organizations Use Human Trafficking

January 25, 2023January 10, 2025 /1 Comment

Editor’s note: This article is the second part of a two-part series on human trafficking and terrorist organizations. The first part is available on ACAMSToday.org. Human trafficking (HT) is used by terrorist organizations to exploit individuals and to carry out or support terrorist activities. In...