In Focus Archives - Page 4 of 28

The Aftermath of the 1MDB Scandal

January 24, 2024January 30, 2024 /2 Comments

The 1Malaysia Development Berhad (1MDB) scandal is one of the largest financial swindles in the anti-financial crime (AFC) space in recent history. Initially launched to promote the management of savings belonging to the state through investments in shares, bonds or real estate, the sovereign wealth...

ACAMS Conexión, Acceso LatAm, Español, In Focus

Ciberseguridad en instituciones financieras

January 10, 2024 /Leave a comment

La revolución digital ha transformado la manera en que el mundo financiero opera. Esta transformación, aunque llena de oportunidades y ventajas, ha venido acompañada de un conjunto de desafíos, principalmente en el ámbito de la ciberseguridad. El aumento de las transacciones digitales y la aparición...

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ACAMS Connection, Ask the AFC Guru, Fraud, In Focus

Ask the AFC Guru: Lindsay Lindmier—Audit Preparation, Protecting Against Fraud and More

December 20, 2023April 29, 2024 /Leave a comment

This month’s anti-financial crime (AFC) guru, Lindsay Lindmier, CAMS, CAFP, is the director of Financial Crimes and Bank Secrecy Act/Office of Foreign Assets Control (BSA/OFAC) officer at Security National Bank in Omaha, Nebraska. Security National Bank, which is a privately owned bank with an asset...

AFC Challenges, December 2023 – February 2024, Fraud Alert, In Focus

Financial Abuse Typologies

December 13, 2023March 27, 2024 /Leave a comment

The Financial Crimes Enforcement Network (FinCEN) has released several publications asking financial institutions (FIs) to be on the lookout for elder financial abuse and to report this abuse when it is identified. While focusing on the elderly, it is a critical function to protect a...

ACAMS Connection, In Focus

Fentanyl Precursor Chemicals Trafficking: The Dark Side of Cryptocurrency

December 8, 2023December 13, 2023 /Leave a comment

In May 2023, blockchain analytics and cryptocurrency monitoring firms Elliptic and Chainalysis both released new findings that offer a glimpse into the role of cryptocurrency in the global fentanyl trade, specifically, the wholesale supply of precursor chemicals to fentanyl producers around the world. Both Elliptic...

ACAMS Connection, Four Questions, In Focus

Four Questions: Recent Developments Having an Impact on APAC

October 30, 2023April 29, 2024 /Leave a comment

As the current regional anti-money laundering (AML) director-APAC at ACAMS, Caryn Leong serves as the lead English-speaking subject-matter expert (SME) practitioner in AML and financial crime compliance across the Asia-Pacific (APAC) region. She manages a small team of experts and engages in government, regulatory and...

ACAMS Connection, Fraud Alert, In Focus, Practical Solutions

Preventing Deepfake-related Fraud in KYC

October 2, 2023November 27, 2024 /Leave a comment

In an era where technology is growing at an unprecedented pace, the rise of deepfakes has sparked a new wave of concern across industries. The ability to manipulate video and audio content with remarkable precision has left businesses pondering the implications of this advanced technology....

FRAML Why Machine Learning Is FIs’ Greatest Weapon

Fraud, In Focus, Practical Solutions, Tech Scope

FRAML: Why Machine Learning Is an FI’s Greatest Weapon

September 22, 2023July 2, 2024 /Leave a comment

What do songwriting, coding, stand-up comedy and fraud have in common? Humans take hours or even days to do them well. It takes ChatGPT less than a second to do the same. To illustrate, I asked generative artificial intelligence (AI) to write a three-verse song...

In Focus, Practical Solutions, September – November 2023, Understanding AI

How Trustworthy AI Can Help With Accountability in AML

September 13, 2023August 2, 2024 /Leave a comment

The abundance of data provides an incredible opportunity and a significant risk for banks. Efficient and effective use of data is critical to combat fraud and financial crimes, manage credit as well as regulatory risk, enhance customer experience, generate sufficient capital and address other issues...

ACAMS Connection, Four Questions, In Focus

Four Questions: A Look at the State of Ransomware, Sanctions and Other Global Issues

August 18, 2023April 29, 2024 /Leave a comment

Sam Cousins is a senior associate at ACAMS, where his work includes supporting public-private partnerships and strengthening ACAMS’ thought leadership pillar through the development of content on sanctions and risk, particularly the Sanctions Masterclass program and Global Monthly Update. Cousins’ work also focuses on countering...