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

Special for the Web

Understanding Recent Developments in Prepaid Access: Considerations for Deterring Money Laundering

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 value...

March 11, 2012

AML Challenges

Self-fulfilling prophecy

A gentleman, who we will refer to as customer A, walks into a branch of a local community bank and opens a routine personal checking account with an initial $300 cash deposit. The customer is familiar to branch personnel having had several accounts — on and off — over the...

February 29, 2012

ACAMS is an international membership organization dedicated to enhancing the knowledge and skills of AML professionals. It serves over 11,000 members in 160 countries. Its CAMS certification is the most widely recognized AML certification among compliance professionals. Visit the ACAMS website at www.ACAMS.org.

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"One of my favorite articles, for both its witty tone and valuable content, was Voo-due Diligence, by Kevin Sullivan, in the May/June 2008 edition. This masterpiece described the risks that our employees, as well as the employees of contractors and subcontractors, pose...What more could any reader want?"
-Kieran Schulte

ACAMS Connection Newsletter: May 9

How-to-Corner

Building a Better SOP

Q&A

I am looking at risk classification based on occupation. For example, if we receive an application from an investor and he states that his occupation is lawyer, how can we use this information to give a risk classification to an investor? I was thinking of using something like the SIC codes from the US to define specific categories of occupations and then giving a risk level to the category. What are others doing with such information captured from clients?

ACAMS Events

8th Annual ACAMS Anti-Money Laundering & Counter-Terrorism Financing Conference - EUROPE

Amsterdam, The Netherlands 10-12 June 2012

6ta Conferencia Anual Latinoamericana sobre Lavado de Dinero de ACAMS

The Westin Diplomat

Cancún, México
1 al 3 de agosto del 2012

ACAMS 11th Annual AML & Financial Crime Conference

ARIA

Las Vegas, Nevada October 1-3, 2012

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