June 2012 – August 2012 Archives - Page 2 of 3

AML Challenges, June 2012 – August 2012

When will the lessons be learned? Avoiding the Knock on the Door

May 29, 2012March 6, 2015 /Leave a comment

During a 30-year police career in London, a couple of things were apparent. Stupid, low-level criminals never learn and keep getting caught. On the other hand, sophisticated, organized criminals make a point of keeping up with legislation, policing methods and trends, and adapt their behaviour...

AML Challenges, June 2012 – August 2012

No Bad SARs

May 29, 2012March 6, 2015 /Leave a comment

There are no bad Suspicious Activity Reports (SARs). There certainly are bad interpretations and the SARs are sometimes badly used, but in the end there are no bad SARs. This assertion is predicated on the fact that the fundamental principle of SARs is to provide...

AML Challenges, June 2012 – August 2012

What if Lieutenant Columbo investigated fraud instead of homicide?

May 29, 2012March 6, 2015 /Leave a comment

Lieutenant Columbo was a television detective, played by actor Peter Falk. Week after week, he was confronted with complex murder cases committed by cunning felons. In each episode, when criminal and detective were first introduced, the felon ended that encounter with a confident smirk on...

AML Challenges, June 2012 – August 2012

Why We Do It—Why do you?

May 29, 2012March 6, 2015 /Leave a comment

On April 19, 1995, an Oklahoma State Trooper on routine patrol observed an old yellow Mercury being operated with no license plates. He stopped the vehicle and later arrested the driver. The trooper was just doing his job. Little did he know that his arrest...

AML Challenges, June 2012 – August 2012

Counterfeit on Delivery

May 29, 2012March 6, 2015 /Leave a comment

We are all familiar with the term cash on delivery, more commonly referred to as COD. Cash on delivery is a rudimentary concept to understand. Merchandise is ordered by phone, Internet, email or fax, and the purchaser tenders cash upon delivery. Because of the impractical...

AML Challenges, June 2012 – August 2012

Fraud and Money Laundering: Can you think like a bad guy?

May 29, 2012March 6, 2015 /Leave a comment

When it comes to fraud and money laundering, can you think like a bad guy? The truth is, we all can. However, many of us do not realize this fact. More important, most of us possess a high level of personal integrity that precludes us...

June 2012 – August 2012, Training

Lessons Learned from Coutts’ £8.75 Million Fine for AML Control Failings

May 29, 2012March 6, 2015 /1 Comment

In March 2012, the UK Financial Services Authority (FSA) fined Coutts & Company (Coutts) £8.75 million for failing to establish and maintain effective AML systems and controls relating to high-risk customers. These failings, according to the FSA's press release, were "serious, systemic and were allowed...

Expert Spotlight, June 2012 – August 2012

Leigh H. Winchell: Proactive and Reactive

May 29, 2012March 13, 2015 /Leave a comment

ACAMS Today had an opportunity to sit down and speak with Leigh H. Winchell, Assistant Director, Investigative Programs, Homeland Security Investigations. Mr. Winchell began his law enforcement career in 1984 as a Deputy Sheriff in Richland County, South Carolina. In 1987, he was hired by...

Expert Spotlight, June 2012 – August 2012

Peter Warrack, CAMS: Think Strategically

May 29, 2012March 13, 2015 /Leave a comment

ACAMS Today caught up with Peter Warrack, head of investigations with the AML Financial Intelligence Unit (FIU) at the Royal Bank of Canada (RBC) for an enlightening interview to discuss financial crimes in both the private and public sectors. ACAMS Today: Tell us about your...

Europe, Interviews, June 2012 – August 2012

Satisfaction Despite Difficulties

May 29, 2012September 9, 2015 /Leave a comment

In Serbia there are more and more final verdicts against money launderers. A new system has been established making Serbia the first country in Europe to start the process of a national risk assessment of money laundering. In this interview, Aleksandar Vujicic, Director of the...

ACAMS Today

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

Sanctions of Our Time: Iran, Venezuela and the Kingpins

Stop the Money Mules, Protect Your Financial Institution

Managing the High-Risk Cannabis Industry

BSA’s Most Wanted

Fintech: Expanding Regulatory Territory

June 2012 – August 2012

When will the lessons be learned? Avoiding the Knock on the Door

No Bad SARs

What if Lieutenant Columbo investigated fraud instead of homicide?

Why We Do It—Why do you?

Counterfeit on Delivery

Fraud and Money Laundering: Can you think like a bad guy?

Lessons Learned from Coutts’ £8.75 Million Fine for AML Control Failings

Leigh H. Winchell: Proactive and Reactive

Peter Warrack, CAMS: Think Strategically

Satisfaction Despite Difficulties