Financial Crime Resources Articles

Our mission to advance the knowledge and skills of the AML and financial compliance community is anchored in our information resources. We want to help professionals in the financial crime detection and prevention field. Our resources are gathered from extensive research and  efforts. Our focus is to consolidate the Financial crime resources in a manner that enable us to keep members up-to-date on  latest legislative, regulatory and international developments.

The missing piece of the puzzle

A t the core of any financial institution’s anti-money laundering (AML) compliance department is its transaction monitoring system. The system analyzes transac – tional data against preset rules and generates a list of alerts for users to review. Alerts may be reviewed on a daily, weekly, or monthly basis—but how often are the rules that generate those alerts reviewed?

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How valuable is your risk assessment?

T he 2010 edition of the Federal Finan- cial Institutions Examination Coun- cil’s (FFIEC’s) Bank Secrecy Act/ Anti-Money Laundering (BSA/AML) Exam- ination Manual is notable for its significant expansion of the BSA/AML risk assessment section within its Core Examination

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BASEL COMMITTEE GUIDANCE ON HOW TO MANAGE ML AND TF RISK

In January 2014, the Basel Committee on Banking Supervision (BCBS), the international standard setter for banking supervisors, issued Sound Management of Risks Related to Money Laundering and Financing of Terrorism,

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Money Laundering Via Author Impersonation on Amazon?

Patrick Reames had no idea why Amazon.com sent him a 1099 form saying he’d made almost $24,000 selling books via Createspace,

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To Spot Terror Funding, Look More at Local Crime

Among the many challenges of identifying terrorist funds is the fact that they can be hidden in plain sight, according to Colin P. Clarke, an associate political scientist at the RAND Corporation who studies the subject

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Lessons Learned from the Paris and Brussels Terrorist Attacks

On March 22, 2016, Brussels was rocked by two devastating terrorist bombings. In the first, two suicide bombers detonated powerful explosives at the Brussels airport and in the second, a third terrorist detonated a suicide bomb on a metro train at the Molenbeek subway station.

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How Terrorist Trends Evolve and How Financial Institutions Should Respond

As we move into and through 2016, the most significant terrorist threats to Western society are posed by Islamic terrorist or jihadist organizations.

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Detecting the Enemy Within

Newspaper headlines and the nightly news are filled with stories of lone wolves, terrorist cells and foreign terrorist fighters (FTFs) recounting recent attacks or attacks that have been averted.

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Tone from Top

It could be argued that it is worldwide public outcry that has been the trigger for governments around the globe to sit up, take notice and commit to actions to tackle bribery and corruption

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