Over the past few years we have been reading more and more about “creating a culture of compliance” and “doing the right thing.” At the same time, anti-money laundering (AML) regulation is becoming increasingly tougher by the hour and the day-to-day of any professional working...

The Standard Industrial Classification (SIC) is a system for classifying industries by a four-digit code. Established in the U.S. in 1937, it is used by government agencies to classify industry areas. The SIC system is also used by agencies in other countries (e.g., by...

Criminals love the high-end real estate market. Not for the great schools or the water views, but for the unique smokescreen a luxury home purchase can provide for ill-gotten funds. Historically, when money launderers and other bad actors have invested in real estate in...

Sometimes the best way to finish a race on time is to start early. Anti-money laundering (AML) enforcement actions frequently include challenging timelines for assessing weaknesses, planning their remediation and implementing new systems and protocols. For example, major enforcement actions have asked that the institution...

From early box tickers to financial crime fighters, compliance officers have evolved in becoming essential “gatekeepers” for financial institutions. They make sure that the organization complies with all its outside regulatory requirements and internal policies while mitigating its risk in breaking laws and regulations. The...