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Financial Crime Wave – Basel’s new AML guidance, Bitcoin seizures, and more

Navigating the flood of financial crime news can be a full-time job. That’s why ACFCS brings you the Financial Crime Wave, a weekly feature providing quick updates on key events and developments across diverse fields of financial crime. This week’s Crime Wave covers new AML standards from the Basel Committee, Canada’s hunt for tax evaders, […]

Target data breach gives vital lessons in protecting against cybercrime

Date: Jan. 22, 201 By: Allison Walton, President, Fortis Quay The red bull’s-eye that the huge retailer Target uses as its brand logo took on ominous new overtones when the company landed in the crosshairs of a cyberattack last month. The colossal data breach it suffered reportedly affected the personally-identifiable information of about 70 million […]

States legalize marijuana, but money laundering laws block banking relations

Date: Jan. 22, 2014 By: Daniela Guzman It is a booming industry with multi-billion dollar revenues, a broad customer base, and projections of explosive growth. Yet it’s also an industry whose businesses can’t find a bank willing to open an account and accept their ever-expanding revenues. The reason? The industry in question is the recreational […]

Digital Currencies and the Future of Money Laundering

Presented by: Serrin Turner, Assistant US Attorney, Southern District of New York Moderated by: Allison Walton, Founder and President, Fortis Quay Digital currencies like Bitcoin have now irreversibly changed the financial crime landscape. While they have many completely legitimate uses and are growing in popularity, digital currencies also have unique features that make them attractive […]

Critical risks, new global standards in AML compliance will be probed at ACFCS 2014 Conference

Contact: Brian Kindle Editorial Director bkindle@ACFCS.org Phone: 786-517-2720 MIAMI, FL— With the advent of new technologies and expanding regulatory standards, the anti-money laundering landscape is changing drastically. The expert speakers and knowledge provided by the 2014 ACFCS Financial Crime Conference on Feb. 5 – 7 at the Marriot Marquis New York will equip attendees with […]

ACFCS 2014 Compliance Jobs Survey

Date: January 15, 2014 By: ACFCS Staff The financial crime compliance field is experiencing a hiring boom, as large financial institutions in the US and beyond react to major enforcement actions and increased regulatory scrutiny. Have you or your organization been impacted by the hot compliance job market? Take our survey below. Create your free […]

Compliance jobs soar in appeal and demand as institutions seek broader skills beyond AML

Date: January 15, 2014 By: ACFCS Staff Record-breaking Justice Department fines, regulatory penalties for violations that go beyond Bank Secrecy Act and anti-money laundering transgressions, and expanding regulatory pressure made 2013 a challenging year for financial institutions that do business in the United States. But one set of institution employees, financial crime compliance professionals, have […]

In fallout from $106 million corruption scheme, Siemens managers face ‘copycat’ charges in Argentina

Date: January 15, 2014 By: Gonzalo Vila In a case that vividly demonstrates the widening risks companies face from anti-corruption enforcement, a judge in Argentina ordered the indictment of 17 current and former managers of Siemens AG on charges they helped funnel more than $106 million in bribes to win contracts from the Argentine government. […]

For rewards of online investigation, first protect identity, says OSINT expert Sandra Stibbards

Date: January 14, 2014 By: Brian Kindle Open sources online can offer extremely rich information and intelligence in virtually any type of financial crime investigation, from hunting fraudsters to conducting due diligence. However, online investigative and due diligence work can also be perilous. Professionals who do not protect their identities risk not only tipping off […]

ACFCS conference will expose and offer training on critical emerging threats and alarming new financial crime trends

Press Release For Immediate Release January 8, 2014 Contact: Brian Kindle Editorial Director bkindle@ACFCS.org Phone: 786-517-2720 MIAMI, FL—From emerging virtual currency risks, to new ways to perform AML compliance, to guidance on harnessing new data analytic tools, the ACFCS 2014 Financial Crime Conference on Feb. 5-7 at the Marriot Marquis in New York will offer […]