Special for the Web Archives

FATF Removes the Bahamas From the Grey List

July 26, 2021July 26, 2021 /Leave a comment

On December 18, 2020, the Financial Action Task Force (FATF) announced that the Bahamas was delisted from its grey list of “Jurisdictions under Increased Monitoring.”1 This decision came after a final review and the recommendations from the International Co-operation Review Group (ICRG) of the...

AML Challenges, Special for the Web

Merchants of Death: The Business of Selling Illegal Wildlife During the Pandemic

July 13, 2021 /Leave a comment

Image source: Shark fin © WWF-Hong Kong/Elson Li. The illegal exploitation of the world’s wild flora and fauna remains a severe and growing problem globally. Criminal syndicates have entered the business, much like a shrewd businessperson would diversify their business products. By all accounts,...

AML Challenges, Special for the Web

Malign Information Laundering and the Next Generation of Compliance

July 7, 2021 /Leave a comment

What if Big Tech was held accountable for know your customer (KYC) procedures and for preventing the movement of malign information just as financial institutions (FIs) are accountable for KYC measures and preventing money laundering? The next generation of compliance needs to include combating...

Practical Solutions, Special for the Web, Understanding AI

Applying Machine Learning and RPA to Automate Financial Crime Investigations

June 24, 2021June 30, 2021 /Leave a comment

Machine learning, a powerful subset of artificial intelligence, and robotic process automation (RPA) have shown promise in addressing various automation opportunities that can benefit the financial services industry. In the Bank Secrecy Act/anti-money laundering world, financial institutions (FIs) are burdened with compliance requirements and growing...

Regulatory Initiatives, Special for the Web

Are Regulators Coming for Crypto?

June 14, 2021July 12, 2021 /Leave a comment

The meteoric rise of cryptocurrency and its attendant community show no signs of slowing. Having started on the fringes of the financial sector, digital currencies are winning over hearts from Main Street to Wall Street. Crypto exchanges are seeing record growth as coins, both new...

Practical Solutions, Special for the Web

How Innovative Technologies Can Counter Emerging TBML Threats

May 28, 2021June 2, 2021 /Leave a comment

According to the Financial Action Task Force (FATF), trade-based money laundering (TBML) is defined as “the process of disguising the proceeds of crime and moving value through the use of trade transactions in an attempt to legitimize their illicit origin.”1 In summary, the primary...

Career Guidance, Special for the Web

Determining Peak Productivity and Suspicious Activity

April 2, 2021April 5, 2021 /1 Comment

The daily routine of geniuses from various fields such as science, mathematics, art and literature are showcased in Mason Currey’s book, Daily Rituals: How Artists Work. The book is a collection of anecdotes from renowned authors who in some cases rose as early as three...

Aspects of APAC, Special for the Web

Five Regulatory Compliance Trends to Impact APAC and AML in 2021

March 8, 2021March 19, 2021 /2 Comments

Unprecedented—a word that defined the world in 2020. The unprecedented COVID-19 pandemic and resulting global downstream economic impact upturned everyone’s lives in unimaginable ways, with entire countries still struggling to contain the situation. The unprecedented deadly scale of environmental disasters such as the bushfires...

Practical Solutions, Special for the Web

Next-Gen Information Sharing and Collaboration Framework Using Graphs

February 17, 2021February 17, 2021 /Leave a comment

Countries have long fought financial crime by relying on financial institutions (FIs) to identify and report suspicious transactions. This system is largely ineffective because it rarely provides useful real-time feedback—a reality that is giving way to a more collaborative approach. This challenge is starting to...

AML Policy, Europe Express, Special for the Web

CDD, GDPR and POPIA Regulations: A Compliance Quandrum

February 5, 2021June 1, 2021 /Leave a comment

According to the site Malaphor, quandrum is a word combining ‘quandary’ (dilemma) and ‘conundrum’ (a puzzle).1 When finding a workable solution between customer due diligence (CDD) requirements, the General Data Protection Regulation (GDPR) and the Protection of Personal Information Act (POPIA), compliance becomes a...

ACAMS Today

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

Protecting the Elderly and Vulnerable from Financial Exploitation With Liz Loewy

ACAMS Today Article of the Year Award Winners Throughout the Years

Soaring to Effective SARs

Post-Pandemic: Forging Partnerships for the Fraud War

Professional Matchmaking: Harmonizing Law Enforcement Investigations

Special for the Web