FINANCIAL CRIME

From little acorns

Apologies for the confusion at the start of my blog post on 4 September: I was not back at all, but actually watching elephants swimming in Botswana.  I wrote a couple of posts in advance, to cover my absence, and … Continue reading

Family values

As I hope is clear from this blog, I work with clients from all over the regulated sector – although I will admit that I have very few law firms (because lawyers like to be trained by other lawyers) and … Continue reading

A case in point

I’m ba-ack!  So let’s leap straight in with a complaint.  As every MLRO knows, nothing enlivens an AML training session like a story – known officially as a case study.  At the moment, staff are lapping up details of “the £16 … Continue reading

Words speaking louder than actions

Now I know it’s important to Think Big – to have goals and targets and ambition.  But you can take it too far.  And I rather think that in their recent “Economic Crime Plan 2019-2022” the joint forces of HMG … Continue reading

So near and yet so far

At the end of June 2019, the UK’s Gambling Commission – one of our five-star AML regulators, getting top marks from users for both approachability and communication – published its 2018 money laundering and terrorist financing risk assessment.  This examines … 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

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CORRUPTION

EXCLUSIVE

18 Years After 9/11: Another Watershed in Global Counterterrorism Finance

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Dirty Money in London’s Property Market

In February 2018, the shocking case of Zamira Hajiyeva and her wealth caused upheaval in British tabloids. She is the wife of Jahangir Hajiyev, the prominent jailed Azerbaijani chairman of the state-controlled International Bank of Azerbaijan from 2001 to 2015. Hajiyeva was said to have spent 16 million pounds at Harrods from 2006 to 2016...

Inclusión Financiera y la Prevención de Lavado de Dinero: La Gran Oportunidad Fintech

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Blockchain, Criptomonedas y Privacidad

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How AI-Driven Social Media Monitoring for AML Works: Part 1

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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

Protected: As Visa Lowers its Chargeback Ratios Merchants Need More Effective Fraud Management

There is no excerpt because this is a protected post. The post Protected: As Visa Lowers its Chargeback Ratios Merchants Need More Effective Fraud Management appeared first on Simility.

Driving Improvements in Fraud Prevention As Threats Grow in Sophistication  

As the world digitizes, organizations and their customers are increasingly exposed to internet fraud. It’s the price we are paying for unfettered online growth. But it doesn’t need to be this way. Anti-fraud solutions have evolved over the years, from ...

Back-to-school, back to fraud: how e-commerce and loan providers can tackle scams 

Fraudsters are always looking for new ways to drive revenue and evade the scrutiny of risk teams. This cat-and-mouse game has seen the bad guys continually adapt their tools and techniques to stay one step ahead of those out to stop them. Despite headl...

Artificial Intelligence: A Powerful Weapon in the Battle Against ATO

The digital economy has given rise to disruptive business models that make it convenient for customers to transact online. Customers can easily set up and operate accounts online by providing personal information at sign-up and log-in, respectively. Th...

Fighting Fraud in a Rapidly Transforming Travel Industry

Like many sectors, travel is undergoing major digital-driven transformation. This is helping to drive customer engagement and growth on a scale never before seen. But while the internet has provided a new platform for airlines, hotels, travel agents an...

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