June – August 2017 Archives - Page 2 of 3

In writing this article for the seventh law enforcement edition of ACAMS Today and recognizing the many successes of law enforcement, I am struck by the missed opportunities for anti-money laundering (AML) professionals to communicate how important that group is to fighting financial crime....

Europe, Global Financial Crime Review, June – August 2017

White-Collar Crime: The Carousel of VAT Abuse

June 9, 2017August 14, 2017 /Leave a comment

Value-added tax (VAT) is one of the most critical sources of national revenue by the majority of European state authorities, particularly in the Central and Eastern European (CEE) region. It is basically a consumption tax calculated on the value added to goods and services. It...

From the Editor, June – August 2017

You Got Email

June 9, 2017 /Leave a comment

I have a friend who works for the “U.S. State Department” and is equipped with a certain skillset. A few years ago, my friend and I were visiting a mutual acquaintance who was having computer problems. As many of us do nowadays, our mutual...

Compliance, June – August 2017

The Road to Money Laundering Centricity

June 9, 2017 /Leave a comment

Among federal crime fighters, money laundering has become a big deal. Both the Federal Bureau of Investigation and the Drug Enforcement Administration have made combating money laundering one of their top priorities. Factor in the work of the Internal Revenue Service Criminal Investigation (IRS-CI)...

Aspects of APAC, June – August 2017

Effectively Auditing the Four Pillars of the Screening Process

June 9, 2017 /Leave a comment

To combat money laundering and terrorist activities, financial regulatory authorities are becoming stricter on the implementation of a robust anti-money laundering/counter-terrorist financing (AML/CTF) program across financial institutions. The number of penalties and fines levied by regulatory authorities have been growing in the past few...

Career Guidance, Fraud, June – August 2017

From Law Enforcement to AML and Fraud Compliance

June 9, 2017April 26, 2024 /Leave a comment

Throughout my career, I have been blessed to be associated with many outstanding and dedicated professionals. My post-college work experience in the public and private sectors has now spanned the better part of 45 years. I served in the U.S. government for 31 years...

AFC Challenges, Europe, Fraud, June – August 2017

Combating Cyber Fraud in Correspondent Banking

June 9, 2017April 26, 2024 /Leave a comment

Cybercrime is a major concern for banks around the world. Until recently, the focus of attacks has tended to be on banks’ customers through card and account detail compromises. But as criminals have become more sophisticated, they have raised their ambitions, and in a change...

Compliance, June – August 2017

The Importance of Having a Solid Compliance Culture

June 9, 2017 /Leave a comment

“It’s now possible for a drug dealer to serve time in a forfeiture-financed prison after being arrested by agents driving a forfeiture-provided automobile while working in a forfeiture-funded sting operation.” —Attorney General Richard Thornburgh, 19891 When dealing with predicate offenses, it is difficult for...

Compliance, June – August 2017, Understanding AI

Artificial Intelligence: The Implications of False Positives and Negatives

June 9, 2017August 2, 2024 /Leave a comment

Does overthinking artificial intelligence result in self-inflicted suspicious activity reports (SARs)? Financial institutions not only pride themselves but are obliged to document when consumer activity goes astray. SAR authors who have an overreliance on the results of anti-money laundering (AML) detection/risk assessment software dutifully draft...

June – August 2017, Practical Solutions

Advancing AML Programs While Adopting New Technology

June 9, 2017 /Leave a comment

As leaders in the anti-money laundering (AML) field, every day we are tasked with protecting our customers and our businesses against increasingly frequent and sophisticated threats from bad actors. As we look ahead, rapidly evolving technology may provide the single greatest opportunity for advancing...

ACAMS Today

The Magazine for Career-Minded Professionals in the Anti-Financial Crime Field

A Veteran’s Journey: Converting Defense Skills to AFC

Shaping the Regulatory Authority for Digital Assets

2025 Guide: Privacy Fines and Lawsuits

Cryptocurrency Kiosks and Scam Typologies: An Investigator’s Perspective

The Changing Landscape of Auditing AI

Combating Cryptocurrency Scams: The Fight for Justice

June – August 2017

Continuing Our Tribute to Law Enforcement With No Alternative Facts

White-Collar Crime: The Carousel of VAT Abuse

You Got Email

The Road to Money Laundering Centricity

Effectively Auditing the Four Pillars of the Screening Process

From Law Enforcement to AML and Fraud Compliance

Combating Cyber Fraud in Correspondent Banking

The Importance of Having a Solid Compliance Culture

Artificial Intelligence: The Implications of False Positives and Negatives

Advancing AML Programs While Adopting New Technology