Special for the Web Archives - Page 8 of 25

Could Your Local Pastor Be the Front Line to Financing Terrorism?

January 12, 2021 /Leave a comment

Terrorism requires funding for various reasons. Operatives require funding for travel arrangements, training new members, forging documents and paying bribes to facilitate attacks, among other things. However, it is worth highlighting that recruitment does not always require large amounts of funding. During “active recruitment,”1...

ACAMS Connection, Europe Express, Special for the Web

The European Anti-Human Trafficking Legal and Policy Framework: The EU’s Strategy Toward the Eradication of Human Trafficking

January 8, 2021February 2, 2023 /Leave a comment

This article is the third part of a three-part series on the European Anti-Human Trafficking Legal and Policy Framework. This article focuses on the creation of the ‘EU Strategy towards the Eradication of Trafficking in Human Beings 2012-2016’ as a result of Directive 2011/36/EU. In...

Europe Express, Special for the Web

How ACAMS Boosted My Career

January 5, 2021April 6, 2021 /Leave a comment

ACAMS is more than a career booster—it is a personal experience. The days following 9/11, no matter our location, we all felt a lot of things were on the brink of change in this world. In February 2002, my boss asked me to ensure we...

Acceso LatAm, Español, Special for the Web

Un Buen Contribuyente También Puede Camuflar el Lavado de Dinero

November 23, 2020March 14, 2023 /Leave a comment

Las organizaciones delictivas saben que para ingresar dinero ilícito a las instituciones financieras, necesitan incurrir gastos que les permitan encubrir este crimen. Es así que los grupos especializados en lavar dinero crean empresas de fachada, simulan facturaciones por operaciones inexistentes, contratan testaferros para que movilicen...

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ACAMS Connection, Compliance, Special for the Web

Beyond the Five Pillars: Taking a Holistic Approach to AML

October 30, 2020February 2, 2023 /Leave a comment

In an effort to improve the effectiveness and efficiency of anti-money laundering (AML) programs, the Financial Crimes Enforcement Network (FinCEN) announced in September that it was soliciting comments regarding potential regulatory amendments to the Bank Secrecy Act. This development is a welcome opportunity to improve...

Compliance, Special for the Web

Smith and Ricardo: Classical Economists and the Origins of TBML

October 23, 2020November 3, 2020 /Leave a comment

Economics has been labeled a “dismal” science for a variety of reasons, so it should not be surprising that an economist would take advantage of the current pandemic stay-at-home orders to read what some would consider dreary works: Adam Smith’s The Wealth of Nations...

Special for the Web, Tech Scope

Leveraging Machine Learning and Advanced Analytics in Transaction Monitoring

October 14, 2020February 15, 2022 /1 Comment

Financial institutions (FIs) are using advanced analytical techniques, machine learning or some form of artificial intelligence (AI) to reduce compliance costs—or at least that is how it seems. The reality is that many FIs are taking advantage of these advanced methods. The institutions using...

Compliance, Special for the Web

TBML Conference Produces Strategic Road Map to Address Worldwide Growing Threat

September 16, 2020November 3, 2020 /Leave a comment

Trade-based money laundering (TBML) harms legitimate trade, national and international markets, as well as global financial systems. It also poses threats to national security, global peace, prosperity and the safety of various communities. Currently, there are no official statistics for TBML, but its magnitude...

ACAMS Connection, Practical Solutions, Special for the Web

FCC Testing Within the Banking Industry

September 1, 2020February 3, 2023 /Leave a comment

What is financial crime compliance (FCC) testing? A report by PwC uses the following definition, “Compliance testing can be defined as a periodic, independent and objective assessment of compliance-related processes and/or controls. The aim of compliance testing is to assess whether the elements, processes and...

ACAMS Connection, AFC Challenges, Special for the Web

Old Trick, New Victims: The Rise of Money Mules During the Pandemic

August 28, 2020February 2, 2023 /4 Comments

Following the coronavirus outbreak, mandated lockdowns were implemented that led millions of people to stay home. The financial industry has seen less money laundering cases and fines from regulators because COVID-19 completely disrupted the demand of illicit drug trafficking and successive money laundering measures. During...

ACAMS Today

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

Assembly Chatter with ACAMS Today: Aaron Kahler

Four Questions: Advice From a BSA/OFAC Officer

NPOs: Risk for Suspicious Activity

Crimen Financiero: Destrucción de la Amazonia de Brasil

CSAM: The Role of Social Media and Jurisdictions

Assembly Chatter with ACAMS Today: Dr. Tanya McCartney

Special for the Web