Prepaid Access, which includes cards and other formats1, is one of the fastest growing segments of the financial sector. Prepaid cards allow consumers to make electronic payments that are not necessarily tied to bank or credit card accounts. Because of the speed at which...

On February 16, 2012, the Financial Action Task Force (FATF), the global standard-setter in the fight against money laundering and terrorist financing, made some important changes to its 40+9 Recommendations. FATF was created in 1989. In 1990, FATF first issued its 40 Recommendations as...

Money laundering, the activity of covering up or disguising a monetary transaction so to give it the appearance of legitimacy, dates back to as early as 1139. Methods of disguise were used by wealthy cash lenders to avoid being detected for the practice or usury.1...

Special keynote address by Murray Michell, director of the Financial Intelligence Centre in South Africa at the Inaugural ACAMS Anti-Money Laundering and Counter Terrorism Financing Africa Conference in Johannesburg on November 3, 2011. Chairperson John Byrne, and friends from ACAMS international Roy Melnick, and members...