Staff Notes Archives - Page 2 of 2

December 2020 - February 2021, Staff Notes, Tech Scope

Practical Machine Learning: Advanced Techniques to Gain Alert Efficiencies

December 22, 2020February 15, 2022 /Leave a comment

The anti-money laundering (AML) community is drowning in false positives. A 2018 review by Microsoft found most transaction monitoring systems have a 95%-99% false positive rate.1 Machine learning and artificial intelligence have been widely viewed as the solution to reducing the number of false...

December 2020 - February 2021, Staff Notes

EMEA Roundup: Winter Updates From the ACAMS EMEA Team

December 22, 2020 /Leave a comment

The world is going through another wave of COVID-19 and many countries are in a second lockdown at the time of this publication. At ACAMS, the anti-financial crime (AFC) community continues to work on bigger and bolder agendas, in an environment where bad actors are...

December 2020 - February 2021, Staff Notes

AML and AFC in China’s Internet Financial Services

December 22, 2020February 22, 2021 /Leave a comment

Internet financial services have been in the world for years. As a result, criminals have taken advantage and used these services to facilitate money laundering and other financial crime. The following article will discuss how criminals use internet financial services and what China is doing...

December 2020 - February 2021, EMEA Connect, Staff Notes

Unity Across the Union

December 22, 2020 /Leave a comment

The European Commission issued its action plan for a comprehensive European Union (EU) policy on preventing money laundering and terrorist financing in May 2020.1 The action plan focuses on harmonizing, effectively implementing and reinforcing the existing anti-money laundering/counter-terrorist financing (AML/CTF) framework at the EU level....

ACAMS Connection, December 2020 - February 2021, Staff Notes

AML in Asia Pacific: 2020 in Review

December 15, 2020December 22, 2020 /Leave a comment

2020 will be remembered as the year the world changed abruptly. In late January, just after the Chinese New Year, the coronavirus pandemic erupted and spread worldwide. Criminals quickly took advantage of the situation by hoarding masks, sanitizers and other consumer products used to fight...

EMEA Connect, September 2020 - November 2020, Staff Notes

Unexplained Wealth Orders―Looking Beyond the Headlines

October 5, 2020February 26, 2021 /Leave a comment

In June 2020, ACAMS partnered with Eversheds Sutherland and published a white paper titled “Unexplained Wealth Orders—Looking beyond the headlines.” This article is an excerpt of the white paper. The full white paper with sources and methodology can be found in the footnotes below.1...

September 2020 - November 2020, Staff Notes

The New ACAMS Brand: The Journey

October 5, 2020December 22, 2020 /Leave a comment

The idea of improving the world while also changing how you interact with it is best articulated by Leo Tolstoy, who famously said: “Everyone thinks of changing the world, but no one thinks of changing themselves.” ACAMS decided it wanted to do both. With help,...

EMEA Connect, June - August 2020, Staff Notes

Summer Updates From the ACAMS EMEA Team

July 7, 2020 /Leave a comment

As we write this whilst working from home, like so many of you in the global ACAMS community, we look forward with hope to a gradual emergence into the next phase of our socially distanced norm following the COVID-19 pandemic. In the last few weeks,...

ACAMS Today Europe, May 2020 - June 2020, Staff Notes

EU-UK Sanctions Post-Brexit: Compliance Preparations and Deliberations

June 5, 2020June 5, 2020 /Leave a comment

The UK left the EU on 31 January 2020, and has now entered an 11-month transition period. Whilst most of the ongoing press coverage is focused on efforts to reach a trade deal, other issues—including future co-operation arrangements on security and law enforcement—require negotiation and...

ACAMS Today Europe, May 2020 - June 2020, Staff Notes

Why Does the Computer Say No? Algorithm Transparency for AFC Systems

May 29, 2020June 5, 2020 /Leave a comment

When the phrase ‘computer says no’ was first used in ‘Little Britain’, a British comedy show from over a decade ago, it resonated with many because it reflected the widespread use of algorithms in day-to-day decision-making. Carol, a character played by David Walliams, a bank...

ACAMS Today

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

Detecting and Reporting Organized Retail Crime

DNA and the BSA

A Three-pronged Approach to Fighting Crypto Fraud

FinCEN’s AML and Terrorist Financing Priorities: An Introduction

Canada Honors Anti-human Trafficking Champion Peter Warrack

Fighting Fraud in the 2020s: All Hands on Deck for the Crime of the Century

Staff Notes