FINANCIAL CRIME

Vote early, vote often

Thank goodness it’s nearly over: I don’t think I can take much more politicking this year.  Regular readers will know that I loathe, detest and despair at the idea of our leaving the EU and I have voted (postally) accordingly.  … Continue reading

Making AML count

One of the most common requests I hear when designing AML training for clients is for case studies (which I have blogged about recently) and for “lessons learned”.  Alongside this, we have regulators regularly reminding us that their final notices … Continue reading

Lights, camera, action!

After my little rant about podcasts, I can report this week that conversely I am fully in favour of what I still call video clips.  In the olden days, when I used videos as part of my AML training, we … Continue reading

Pass the popcorn

My telly viewing habits are rather old-fashioned: I like nothing better than watching a repeat of a beloved programme (original “Upstairs, Downstairs” and “Poldark”, I’m talking about you) and I steer clear of anything gory, violent, scary or – saints … Continue reading

Dutch courage

One of the dearest ambitions of my little AML-ish heart has been to participate in a think-tank or colloquium or workshop or similar learned gathering, with the aim of influencing AML strategy.  I want to take part not for the … Continue reading

COMPLIANCE

From Partnership to Progress in the Fight to End Human Trafficking

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Birth of OFAC and the Rise of Global Sanctions

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The major issue hindering T&E compliance – and 3 proven solutions

With travelers constantly on the go, your finance staff may not talk with them too often. But for compliance with your T&E process, better communication could be the key. That’s the main takeaway from the report Travel Policy Communication: Understanding Disconnects and Increasing Compliance from the Global Business Travel Association (GBTA) and HRS Global Hotel Solutions. GBTA’s […] [MORE]

Counterfeit Jewelry—Spotting a Fake

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The Rise of Cloud in Compliance

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ANTI CORRUPTION

Linguistic Clues Narrow Identity of Country A in Mueller Probe

Fascination continues about the identity of Country A in Special Counsel Mueller’s investigation into Russian interference.  An unidentified corporation is a witness in the investigation and is owned by Country A. Recent developments provide clues in the unredacted portions of unsealed court rulings and party filings.  Based on linguistic analysis of court rulings and pleadings, Kristina...… Continue Reading

Will Russia Provide Missing Links to Murder, Kickbacks, Bribery?

The case against Leonid Teyf, a Russian citizen, in a federal court in North Carolina has enough juicy facts for an international crime novel. The U.S. prosecutors need evidence to convict Teyf and his accomplices of the central charges, stemming from an alleged kickback scheme in Russia. Will Russia provide missing links? U.S. v. Teyf,...… Continue Reading

Circuit Rejects Expansive Use of Conspiracy for FCPA

The Second Circuit issued its judgment on the case we have been monitoring, U.S. v. Hoskins. The court held that the “government may not expand the extraterritorial reach of the FCPA by recourse to the conspiracy and complicity statutes.” DOJ Theory Rejected The holding is of significant interest as it narrows the DOJ’s jurisdictional reach over...… Continue Reading

The Yacht Equanimity: a Symbol of Corruption?

This month, former Malaysian Prime Minister Najib Razak, who served from 2009 to 2018 as Malaysia’s sixth Prime Minister, pleaded not guilty to three new money-laundering charges related to the alleged multibillion-dollar looting of 1Malaysia Development Berhad (“1MDB”), a Kuala Lumpur-based strategic development company that is wholly owned by the Malaysian Ministry of Finance. The...… Continue Reading

DPA Regime a Landmark Change to Singaporean Law

A recent landmark change to Singapore’s criminal justice system providing for Deferred Prosecution Agreements (“DPAs”), or voluntary alternatives to adjudication, should increase corporate accountability for acts of bribery, corruption, and money laundering. DPAs a Dual-Purpose Enforcement-Prevention Tool DPAs provide a powerful enforcement tool for prosecutors seeking to hold accountable companies that commit crimes and to...… Continue Reading

FEATURED NEWS

IN THIS WEEK

CORRUPTION

Vote early, vote often

Pass the popcorn

The smile on the crocodile

Family values

Exceeding slow

EXCLUSIVE

How Fintech Can Counter Terrorism Funding

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Building the Best Scenario to Fight Financial Crime

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United We Stand, Divided We Fall

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Independent Reviews of a Fund’s AML Program

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The 2019 ACAMS Vegas Conference Poll Results Are In

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INTERVIEWS

Marina Adams: Networking in the Workplace

ACAMS Today  spoke with Marina Adams,1 compliance officer and assistant vice president of the Federal Reserve Bank of New York (NY Fed), to discuss career advice and equality in the workplace. Adams helped create and develop the compliance function of NY Fed. Adams’ responsibilities include the development and implementation of the anti-money laundering (AML) and...

Deborah Lehr: Think Big, Why not? You Never Know What You Might Achieve

ACAMS Today  sat down with Deborah M. Lehr, to speak about her background, professional experience and her passion to protect human heritage. Lehr is chairman and founder of the Antiquities Coalition. Lehr is an accomplished global business strategist who has supported leading global firms and organizations to grow their presence in the world’s most complex...

Lisa W. Wardell: The Importance of Mentorship and Diversity

ACAMS Today  had the privilege to speak with Lisa W. Wardell, president and CEO of Adtalem about her background, professional experience and what it means to break boundaries as the only African-American female CEO in the S&P 400. Wardell is a philanthropist, mother of six, wife, mentor, sponsor and CEO. She was appointed president and...

Jennifer Hanley-Giersch, CAMS: Enhancing Empowerment and Driving Innovation

ACAMS Today  sat down with Jennifer Hanley-Giersch, CAMS, managing partner of Berlin Risk Limited, to discuss career advice and her sources for writing inspiration. Hanley-Giersch has nineteen years of experience in the risk management and anti-financial crime (AFC) fields. She has extensive experience in global investigations, compliance advisory, reputational risk management and political risk assessment....

Hera U. Smith: Lifting Each Other Up

ACAMS Today  interviewed Hera U. Smith, CAMS, global sanctions compliance officer of Associated Foreign Exchange, Inc. (AFEX), to discuss her work with international sanctions and her advice for increasing the participation of women in the anti-financial crime field. AFEX is one of the leading global payments and risk management solutions providers. Smith is responsible for...

AUTOMATION

How Machine Learning Can Unlock Value For Fraud And Risk Professionals

At Simility, we often talk about the need for machine learning-powered systems to combat a new wave of sophisticated digital fraud. But what exactly is machine learning – and how can it be leveraged to provide an advantage over legacy rule-based tools?...

Patching Problems Perpetuate Fraud Challenges

Online fraud is a complex problem requiring a sophisticated solution. We all know it’s on the rise. But there’s no single, definitive cause. Instead, a confluence of factors including digital transformation, the rise of dark web sites, credential stuff...

Do You Have a Legacy Fraud Solution? Here Are Eight Tell-Tale Signs

It’s no secret that fraud is on the rise, fueled by persistent data breaches, and the widespread use of anonymizing technology and automated account takeover tools. Over 14 million consumers fell victim last year, and this estimate by Javelin Strategy ...

Accountability Matters: Why Firms Need to Step Up with Proactive Protection

Cybersecurity and fraud prevention go hand-in-hand for both businesses and consumers, just as cybercrime and online scams are intrinsically connected. That’s why we’re supporting National Cybersecurity Awareness Month (NCSAM) in the US again this Octob...

New Data Breach Milestone Should Focus Minds on Data-Centric Fraud Prevention

Data breaches come so quick and fast these days that both consumers and businesses are in danger of becoming desensitized. In August alone, tens of millions of customer records were compromised after two online apparel companies were hit. This, suppose...

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