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!

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Model Validation: The definition, the origin and why you should be doing one

Introduction In this article, I will present updated fundamentals on what is an Anti-Money Laundering (AML) model validation as defined by the Office of Comptroller of the Currency (OCC) guidance. In an effort to provide oversight on the model validation process, I will demonstrate the definition, it’s origin, how that translates to its use in […]

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Explaining Explainability

What is explainability? There is a lot of chatter about it in relation to software applications, in particular those that leverage emerging technologies such as artificial intelligence (AI) and machine learning (ML). Regulators have been sort of blunt about use of these technologies: a firm can’t just buy and implement a new piece of technology, […]

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Overcome BSA/AML Supervisory Criticism

BSA risks continue to evolve and time does not stand still for money launderers or fraudsters.  The criminals are always looking for non-traditional ways to accomplish the same results and financial institutions and BSA Officers often only rely on controls we are most comfortable with. This tendency is the starting foundation for BSA criticism.  Is your BSA program and […]

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Structuring – You’re Probably Not Getting It Right

Structuring – You’re Probably Not Getting It Right Structuring. That old thing? Yeah, that. Some may have stopped at the title. But if you are a community bank or credit union – you are plagued day-to-day with structuring activity and alerts. Cash is still king in smaller institutions. The chances of your analysts viewing this […]

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The “Red Pill” Realities of Anti-Money Laundering

Let’s put these numbers in perspective. 99% of laundered money is not caught. 90% of the resources spent catching suspicious actors are wasted. 100 % of US banks have known this for years. How did we get here? Modern technology, specifically data analytics, is well-suited to address this problem. Why hasn’t this problem been solved? […]

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AML in the Age of Cryptocurrency (Part 1)

Introduction Virtual currency businesses get caught in the anti-money laundering (AML) web both coming and going.   Financial services businesses such as banks view them as suspect customers and suspect business partners, and either flee or impose stringent information requirements and onerous ongoing monitoring.  Meanwhile, the banks may be filing secret reports with the U.S. federal […]

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