March – May 2024 Archives

AFC Challenges, March – May 2024, Tech Scope

National Security in the Age of Cryptocurrencies

March 1, 2024March 8, 2024 /Leave a comment

There are myriad illicit finance risks in the cryptocurrency ecosystem. Historically, anti-financial crime (AFC) professionals have focused on preventing scams and the funds associated with darknet markets. But the digital ecosystem is growing exponentially, and it continues to collide not only with traditional finance but...

Global Financial Crime Review, March – May 2024

Combating TBML With Smart Contracts

March 1, 2024March 1, 2024 /Leave a comment

Trade-based money laundering (TBML) is a sophisticated financial crime method that involves the manipulation of international trade transactions for the purpose of laundering illicit funds. Trade-based money laundering (TBML) is a sophisticated financial crime method that involves the manipulation of international trade transactions for the...

ACAMS Connection, AFC Challenges, March – May 2024

The Black Market for Used Cooking Oil

March 1, 2024March 6, 2024 /Leave a comment

Restaurants across the U.S. are now the targets of thieves who are not interested in stealing money per se but something just as valuable: Used cooking oil. Yes, old grease! Has anyone ever considered that the used cooking oil discarded by restaurants has substantial value?...

Compliance, March – May 2024

Balancing the Scale of Global Good and Business Outcomes

March 1, 2024March 1, 2024 /Leave a comment

As the anti-financial crime (AFC) space continues to witness the unfolding environmental, social and governance (ESG) discourse that has brought both praise and skepticism over the past year, a narrative emerges that encapsulates a broader evolution. This narrative unfolds across the spectrum of enterprises, from...

Europe Express, March – May 2024

Exposing Money Laundering Techniques in Pig Butchering Scams

March 1, 2024 /1 Comment

This article analyzes the financial aspects of pig butchering scams by focusing on the money laundering techniques and cryptocurrencies used by organized crime groups (OCGs). This unprecedented form of fraud combines elements of cybercrime, crypto-assets, money laundering and human trafficking. In addition to describing the...

ACAMS Connection, March – May 2024, Practical Solutions

Federal Grand Jury Subpoenas for Financial Records: The Secrets Revealed

March 1, 2024March 20, 2024 /Leave a comment

What is a federal grand jury subpoena? A federal grand jury subpoena for financial records is a document issued by the U.S. Attorney’s Office to compel action by a financial institution (FI). What is a federal grand jury subpoena? A federal grand jury subpoena1 for...

March – May 2024, Regulatory Initiatives

FedNow Is Here

March 1, 2024June 3, 2024 /Leave a comment

First announced by the Federal Reserve Bank (Fed) in August of 2019, the first phase of FedNow, a new settlement product, went live on July 20, 2023. FedNow joins similar platforms that are already in existence across Europe and Asia, such as Single Euro Payments...

March – May 2024, Member Spotlight

Rayan Mohamed, CAMS, CFE—North Carolina, USA

March 1, 2024 /Leave a comment

Rayan Mohamed is a licensed attorney based in North Carolina. He holds the Certified Anti-Money Laundering Specialist (CAMS) and Certified Fraud Examiner (CFE) designations. With a robust background in the anti-money laundering/counter-terrorist financing (AML/CTF) industry spanning six years, Mohamed became part of Credit Suisse (now...

March – May 2024, Member Spotlight

Josh Ortner, CAMS—Ohio, USA

March 1, 2024 /Leave a comment

Josh Ortner is a passionate financial crime fighter and anti-money laundering (AML) professional. His career in AML launched after working as an investment oversight manager for a $4 billion donor-advised fund provider, where he reviewed potential money laundering and fine-print risks obscured within alternative and...

March – May 2024, Member Spotlight

Stephanie Bye, CAMS—Washington, USA

March 1, 2024 /Leave a comment

Stephanie Bye is the senior vice president of Financial Crimes for Quontic Bank. She has served as an anti-money laundering/Bank Secrecy Act (AML/BSA) expert in several capacities, including as a risk management examiner for the Federal Deposit Insurance Corporation, risk management officer at a California-based...

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

March – May 2024

National Security in the Age of Cryptocurrencies

Combating TBML With Smart Contracts

The Black Market for Used Cooking Oil

Balancing the Scale of Global Good and Business Outcomes

Exposing Money Laundering Techniques in Pig Butchering Scams

Federal Grand Jury Subpoenas for Financial Records: The Secrets Revealed

FedNow Is Here

Rayan Mohamed, CAMS, CFE—North Carolina, USA

Josh Ortner, CAMS—Ohio, USA

Stephanie Bye, CAMS—Washington, USA