Special for the Web Archives

Four Questions: Recent Developments Having an Impact on APAC

October 30, 2023 /Leave a comment

As the current regional anti-money laundering (AML) director-APAC at ACAMS, Caryn Leong serves as the lead English-speaking subject-matter expert (SME) practitioner in AML and financial crime compliance across the Asia-Pacific (APAC) region. She manages a small team of experts and engages in government, regulatory and...

ACAMS Connection, Practical Solutions, Special for the Web

Preventing Deepfake-related Fraud in KYC

October 2, 2023October 4, 2023 /Leave a comment

In an era where technology is growing at an unprecedented pace, the rise of deepfakes has sparked a new wave of concern across industries. The ability to manipulate video and audio content with remarkable precision has left businesses pondering the implications of this advanced technology....

FRAML Why Machine Learning Is FIs’ Greatest Weapon

PRACTICAL SOLUTIONS, Special for the Web, Tech Scope

FRAML: Why Machine Learning Is an FI’s Greatest Weapon

September 22, 2023 /Leave a comment

What do songwriting, coding, stand-up comedy and fraud have in common? Humans take hours or even days to do them well. It takes ChatGPT less than a second to do the same. To illustrate, I asked generative artificial intelligence (AI) to write a three-verse song...

Practical Solutions, September – November 2023, Special for the Web

How Trustworthy AI Can Help With Accountability in AML

September 13, 2023 /Leave a comment

The abundance of data provides an incredible opportunity and a significant risk for banks. Efficient and effective use of data is critical to combat fraud and financial crimes, manage credit as well as regulatory risk, enhance customer experience, generate sufficient capital and address other issues...

ACAMS Connection, Four Questions, Special for the Web

Four Questions: A Look at the State of Ransomware, Sanctions and Other Global Issues

August 18, 2023September 6, 2023 /Leave a comment

Sam Cousins is a senior associate at ACAMS, where his work includes supporting public-private partnerships and strengthening ACAMS’ thought leadership pillar through the development of content on sanctions and risk, particularly the Sanctions Masterclass program and Global Monthly Update. Cousins’ work also focuses on countering...

ACAMS Connection, AFC Challenges, AML Challenges, Special for the Web

Fines for AML Compliance Failures

August 11, 2023August 23, 2023 /Leave a comment

Fines to banks for anti-money laundering (AML) compliance flaws can occur due to various reasons. AML regulations are put in place to prevent financial institutions (FIs) from being used for illicit activities such as money laundering and terrorist financing. When banks fail to meet the...

ACAMS Connection, AFC Policy, AML Policy, Badge Bulletin, Special for the Web

Incorporating FinCEN’s National Priorities Into Risk Assessments

July 28, 2023October 23, 2023 /Leave a comment

The article titled “FinCEN’s AML and Terrorist Financing Priorities: An Introduction,” featured in the June-August 2022 edition of ACAMS Today,1 shared general thoughts, basic definitions and practical examples on each of the national anti-money laundering (AML) and counter-terrorist financing (CTF) priorities. This was followed by...

ACAMS Connection, Practical Solutions, Special for the Web

Financial Crime Prevention in Small Companies

April 13, 2023May 17, 2023 /Leave a comment

“Who watches the watchmen?” Often, in a very small company, there is only one person who serves as both the back office and compliance person. And as the person in the hot seat, you know that good systems are critical to prevent deliberate and inadvertent...

Aspects of APAC, Special for the Web

Money Laundering Risk Study: Customer Acceptance and Development Strategy Suggestions for FIs

March 30, 2023March 30, 2023 /Leave a comment

Explicit customer acceptance policies and business development strategies embody financial institutions’ precise customer marketing capabilities, meticulous customer management capabilities and accurate money laundering risk management capabilities. To this end, this article puts forward the following suggestions based on the analysis of the risk and revenue...

Risk Assessment, Special for the Web

Enterprise-wide Risk Assessment: Statement Structure

March 14, 2023 /Leave a comment

The enterprise-wide risk assessment (EWRA) is a comprehensive statement for financial crime risk management at an enterprise level. It also covers the enterprise’s foreign branches/subsidiaries. The risk-based approach, which is recommended by the Financial Action Task Force (FATF) 40 Recommendations, is also derived from the...

ACAMS Today

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

Enabling Law Enforcement in the Fight Against Online Child Exploitation, With Carly Yoost

Hank Hernandez: Transferrable Skills From a Veteran to AFC

Ask the AFC Guru: Marbel Guilamo Peña—The Fight Against Corruption

A Brief Overview When Preparing for a Risk-based Audit

Four Questions: Recent Developments Having an Impact on APAC

Democratic Republic of Congo: Mining Sector Under Surveillance

Special for the Web

Four Questions: Recent Developments Having an Impact on APAC

Preventing Deepfake-related Fraud in KYC

FRAML: Why Machine Learning Is an FI’s Greatest Weapon

How Trustworthy AI Can Help With Accountability in AML

Four Questions: A Look at the State of Ransomware, Sanctions and Other Global Issues

Fines for AML Compliance Failures

Incorporating FinCEN’s National Priorities Into Risk Assessments

Financial Crime Prevention in Small Companies

Money Laundering Risk Study: Customer Acceptance and Development Strategy Suggestions for FIs

Enterprise-wide Risk Assessment: Statement Structure