September 2021 - November 2021 Archives

Member Spotlight, September 2021 - November 2021

Sandra Edun-Watler, CAMS—Cayman Islands

September 3, 2021 /Leave a comment

Sandra Edun-Watler is an attorney-at-law and the head of the compliance and reporting services for Mourant Governance Services in the Cayman Islands. In this role, she provides anti-money laundering (AML) and automatic exchange of information reporting as well as compliance officer services to Cayman Islands...

ACAMS Connection, AFC Challenges, September 2021 - November 2021

Nonprofits: Know Your Donor’s Asset Origination

September 3, 2021February 6, 2023 /1 Comment

When learning about new trends in money laundering from financial crime prevention experts, one usually does not consider the nonprofit sector and the risk of nonprofit organizations (NPOs) in facilitating illicit transactions. Nonprofits are essential to financing the most vulnerable in society; however, they could...

Aspects of APAC, September 2021 - November 2021

How to Incorporate Money Laundering Risk into Risk Management: Part One

September 3, 2021 /Leave a comment

Relevant provisions have regulated the incorporation of money laundering and terrorist financing risk (hereinafter referred to as money laundering risk) into the overall risk management of financial institutions (FIs). These provisions include the Financial Action Task Force’s “Risk-Based Approach Guidelines for the Banking Sector”...

AFC Challenges, September 2021 - November 2021

The Nexus Between Ransomware, Cryptocurrency and Money Laundering

September 3, 2021March 28, 2023 /1 Comment

In May 2021, American motorists across the states of Virginia, Georgia and North Carolina panicked as they scrambled to fill their vehicles at gas stations. The run for fuel was a result of a cyberattack on the Colonial Pipeline, which was forced to shut down...

Compliance, September 2021 - November 2021

Ransomware: The Digital Battleground

September 3, 2021October 8, 2021 /Leave a comment

In the age of the internet, a hack meant the loss of personally identifiable information (PII). In the 2018 hack of Facebook, 50 million users found their birthdates, education, location and other PII vulnerable to cybercriminals.1 According to chief executive officer Mark Zuckerberg―whose own...

Compliance, September 2021 - November 2021

Elder Financial Exploitation: A Monumental Crisis

September 3, 2021 /Leave a comment

First the ingredients: One coronavirus that forces people to isolate in their own homes; add increased reliance on telephones and computers as means of communication; then remove layers of protection by eliminating home visits from Adult Protective Services case workers; insert a measure of...

AFC Challenges, Compliance, September 2021 - November 2021

Riddle Me This: Export Controls?

September 3, 2021March 16, 2022 /Leave a comment

As governments seek to accomplish national security and foreign policy goals, the regulatory focus has increasingly turned to export control compliance. Controlling goods for export has long been a tool used by government leaders to keep dangerous products, such as weapons and chemicals, out...

Greater Phoenix Chapter: Gateway to the West

Greater Phoenix Chapter, Know Your Chapter, September 2021 - November 2021

Greater Phoenix Chapter: Pivot, Evolve, Adapt!

September 3, 2021 /Leave a comment

The ACAMS Greater Phoenix Chapter hosted a virtual webinar in June titled, “Terrorist Financing in the Crypto Age: Regulatory and Law Enforcement Framework.” The event had over 500 registered participants and proved to be a true crowd pleaser. Chris Janczewski, special agent for the IRS...

AFC Challenges, September 2021 - November 2021

Cryptocurrency Exit Scams—What They Are and How to Avoid Them

September 3, 2021September 10, 2021 /Leave a comment

Throughout the years, cryptocurrency has become a very controversial topic of discussion, mainly through the two opposing forces that try to navigate within the space. On the one hand, there are believers of the technology, the futurists and the innovators who buy bitcoin1 and store...

AFC Challenges, September 2021 - November 2021

Data’s Impact on Compliance and AFC Operations

September 3, 2021 /Leave a comment

Threats against financial institutions (FIs) continue to rise. Add to that the pressure of ever-evolving regulatory and compliance requirements and it makes for a trying environment in which to do business. A recent report cited a 141% increase since 2019 in global fines and...

ACAMS Today

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

Matthew S. Axelrod on the Critical Importance of Export Controls

AFC Developments Addressed at the Assembly Hollywood

David Mortlock on Sanctions Enforcement and Asset Recovery

Europe’s PEP List Debate

Russian Sanctions: Hitting the Target or Missing the Mark?

The Missing Pieces in Financial Crime Investigations

September 2021 – November 2021

Sandra Edun-Watler, CAMS—Cayman Islands

Nonprofits: Know Your Donor’s Asset Origination

How to Incorporate Money Laundering Risk into Risk Management: Part One

The Nexus Between Ransomware, Cryptocurrency and Money Laundering

Ransomware: The Digital Battleground

Elder Financial Exploitation: A Monumental Crisis

Riddle Me This: Export Controls?

Greater Phoenix Chapter: Pivot, Evolve, Adapt!

Cryptocurrency Exit Scams—What They Are and How to Avoid Them

Data’s Impact on Compliance and AFC Operations