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!
The word “Tuning” may bring to mind the idea of tuning an instrument. As we all know, if your instrument is not tuned properly, no one will appreciate all the time and effort the musician puts into playing it. If all the instruments in an orchestra are not tuned to the chosen frequency, for example, […]
This article was originally published on frankonfraud.com. Beginning in late 2021 and continuing late into 2022, a globally active, extortion-focused cyber threat actor group called Lapsus$ attacked dozens of well-known companies and government agencies around the world. It penetrated corporate networks, stole source code, and then demanded ransoms. In a newly released report by the US […]
Is your financial institution doing what it can and should to identify and mitigate sex trafficking money laundering risks? Are your risk assessment and transaction monitoring models up to date with emerging trafficking risks and trends? The rise of cryptocurrencies and the darknet (or dark web) have created new challenges for financial institutions in detecting […]
Webinar: July 25 – Spotlight: Handling Suspect Credits in ACH Presenters: Sandy Ortins, AAP, APRP, NCP Rayleen M. Pirnie, BCJ, AAP, CERP Compliance Officers and Fraud Investigators are often challenged with identifying appropriate actions when money laundering activity or fraud is suspected with ACH credit entries. The ACH Network Rules must be balanced with applicable […]
Fighting spear phishing attacks is the single best thing you can do to prevent breaches. Social engineering is involved in 70% to 90% of successful compromises. It is the number one way that all hackers and malware compromise devices and networks. No other initial root cause comes close (unpatched software and firmware is a distant second being involved […]
In 2004 the FFIEC quietly and subtly shifted the BSA examination paradigm with the publication of the Bank Secrecy Act / Anti-Money Laundering Examination Manual (“the Manual”). The Manual introduced to examiners the concept of determining an institution’s money laundering, terrorist financing, and OFAC risks through a matrix of pertinent topics rated as Low, Medium, […]
Interview Date: March 10, 2023 Interviewer: Nancy E. Lake Interviewees: Rayleen M. Pirnie, BCJ, AAP, CERP Advisor, NPG & Director of Risk and Fraud, NEACH Sean Blake, CFE Investigations, Americas Corporate Security & Resilience […]
The word “Tuning” may bring to mind the idea of tuning an instrument. As we all know, if your instrument is not tuned properly, no one will appreciate all the time and effort the musician puts into playing it. If all the instruments in an orchestra are not tuned to the chosen frequency, for example, […]
Background If you have been in banking before 2001, you know that BSA compliance was much simpler and not as burdensome as it is today. When it comes to the “Bank Secrecy Act”, it is important to remember there isn’t just one law called the “Bank Secrecy Act”. It is made up of numerous laws […]
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 […]
