Corporate legal departments are increasingly ranking cybersecurity as one of their top concerns. And for many good reasons. The percentage of in-house counsel who report their organization has experienced a security breach has more the doubled in only the last year. Chris Maguire, managing director of the Corporate Legal team at Thomson Reuters discusses the …
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A Look at the Data: AML Compliance Leaders Address New Requirements with Technology, Staff
The commencement of anti-money laundering (AML) requirements for financial institutions issued in May 2018 has caused increasing numbers of firms to shift their hiring and focus of compliance staff toward more efficient customer due diligence (CDD) practices, rather than addressing and managing regulatory change. That’s one of several key takeaways from the 2018 Thomson Reuters …
Anti-Money Laundering Compliance Leaders Addressing New Requirements with Technology, Staff
MINNEAPOLIS-ST. PAUL, October 24, 2018 – The commencement of anti-money laundering (AML) requirements for financial institutions issued in May 2018 has caused increasing numbers of firms to shift their hiring and focus of compliance staff toward more efficient customer due diligence (CDD) practices, rather than addressing and managing regulatory change. That’s one of several key …
ACAMS2018: Managing Risk in the Cryptosphere
Just prior to entering your first haunted house as a child, maybe you felt a little anxious? Or maybe you were uneasy when you had to stand in front of the class for your first speech. Many financial institutions (FIs) are feeling that same way, with a fear of the unknown surrounding the cryptocurrency market …
ACAMS2018: Effective AML for the New Era of Financial Services
What is your risk tolerance? Are you aggressive or do you fall more on the conservative side? Do you embrace the latest innovations or wait to see how they play out? Financial institutions (FIs) have a risk threshold that has been designed to mitigate potential harm that could be done by doing business with customers …
ACAMS2018: Compliance Models and Cryptocurrency Risks
Information has value, and illegal activity to obtain that information is more prevalent than ever. And with that activity, often funded by cryptocurrency, there comes a sense of urgency to develop a knowledge and understanding around cryptocurrency risks. At the ACAMS 17th Annual AML & Financial Crime Conference, a panel entitled “Crafting Compliance Models to …
ACAMS2018: Make a Difference
“Never underestimate the power you can have to make a difference.” That was the statement investigative journalist and author Lydia Cacho impressed upon a room full of professionals attending the opening keynote at the ACAMS 17th annual AML & Financial Crime Conference in Las Vegas Cacho, who has written multiple books including her 2003 debut …
Podcast: What’s Missing from the Human Trafficking Discussion – ACAMS 2018 Panel Preview with Peter Vincent
This week, ACAMS 17th Annual AML & Financial Crime Conference will be held at the Aria Resort & Casino in Las Vegas. Among the 2,000 public and private sector professionals who will meet and share insights on anti-money laundering and financial crimes at the event is Peter Vincent, general counsel for Thomson Reuters Special Services, …
Budget Stretching 101: Practical Strategies to Help Compliance Dollars a Work Overtime – ACAMS 2017 Panel
Implementing and managing AML protocols can be challenging for any institution, but perhaps more so for small- to mid-size institutions and community banks. What’s more, community banks are seen as less sophisticated, and therefore, are more often targeted by money launderers, noted Dan Eckhart of Dan Eckhart Law. This was the focus of an afternoon …
The New CTF: Reviewing Practical Tools to Counter Terrorism’s Evolving Financing Methods – ACAMS 2017 Panel
“It’s very cheap to kill.” A sobering message from Richard Stocks, Global Chief Technology Officer, Financial Crimes and Compliance Solutions, Pitney Bowes, on the new face of global terrorism. This is in light of the fact that law enforcement and AML activities have disrupted terror groups like ISIS and al Qaeda, forcing these groups to …