Here you will find the AML-ology curriculum, our monthly curated articles, to help any BSA professional stay up-to-date on the latest trends and learn answers to timeless challenges. We share articles written by a number of industry sources that we believe take an academic approach to the challenges anti- money laundering (AML) professionals face, and actual solutions for you to implement. These articles are published monthly and sent directly to you when you sign up to be an AML-ology Scholar!
This article was originally published on frankonfraud.com. The world we live in is changing before our eyes. 👀 Things are never quite what they seem. Nothing can be taken at face value, and strangers making promises cannot be trusted. 🤥 Sadly, everyone we know has been victimized by fraud or a scam and lost their […]
The Pandora Papers were the result of a leak of almost 12 million documents that subsequently revealed hidden wealth, tax avoidance, and money laundering by some of the world’s richest and most powerful individuals. The data was obtained by the International Consortium of Investigative Journalists (ICIJ) which then collaborated with 140 media organisations on the […]
Readers, am I missing something in my inclusive list? I need your help. If you want to stop thieves from breaking into your house, over and over, you need to figure out how the thieves could break into your house (e.g., doors, windows, floor, ceiling, basement, roof, wall, etc.),figure out the MOST LIKELY ways they […]
Imagine this: Nancy at ABC Credit Union calls Rayleen at MainStreet Bank to inquire about 3 large ACH transactions moving between accounts of the two financial institutions (FIs). The three transactions appeared in the transaction monitoring system at ABC Credit Union, prompting an AML investigation. Nancy suspects their member is a money mule. Rayleen at […]
Warren Buffett once said, “When people tell me they’ve learned from experience, I tell them the trick is to learn from other people’s experience.” This is true in many areas of life, especially when it comes to BSA Consent Orders. BSA (Bank Secrecy Act) and OFAC (Office of Foreign Assets Control) personnel are wise to […]
Human traffickers are quick to adapt their business models based on technology trends to grow their markets and increase their profits. Traffickers use technology as a force multiplier to profile, recruit, control and exploit their victims via a variety of online platforms, where personal information and details of people’s locations are readily available, they connect […]
When the Soviet Union collapsed, I was a member of the Panamanian underworld that laundered drug money for Colombia’s Cali drug cartel. My friends in Panama’s mafia, several of whom had high-level KGB connections, also worked with Russian power brokers to launder and invest in assets stolen from the Russian public as its economy was […]
Ransomware has become one of the most dreaded problems in the cyber world and it’s only getting worse. Much worse! Traditionally, ransomware was a trojan horse malware program which when it found a new host computer simply went off, encrypted all the data it could find, and sent the user an onscreen message to pay a […]
Human Trafficking Definitions U.S. law defines human trafficking (also known as trafficking in persons, trafficking in human beings, or modern slavery) as the use of force, fraud, or coercion to compel a person into commercial sex acts or labor / services against their will. The Action-Means-Purpose (AMP) model describes the federal definition of human trafficking […]
Background In Q4 2021, the value of all crypto-assets in circulation stood close to $3Tn. At the start of 2021, that number stood at $1Tn, and nearly a decade ago did not exist. The rapid rise of interest in crypto has stunned many skeptics. The increase of crypto-assets and associated wallets has been accompanied by […]
