Privacy Wallets and Crypto Crime – A Top Trend in Illicit Use of Cryptocurrencies

Crypto skeptics and crypto enthusiasts rarely see eye to eye, but both camps can agree that the pace of change in the crypto world has been rapid and remarkable. Once viewed as largely anonymous and difficult to trace, crypto transactions have become increasingly transparent as blockchain analytic tools have grown in sophistication. Crypto users seeking […]

Synthetic ID Fraud – Frankenstein and the Future

On this episode of the Financial CrimeCast, we’re exploring how to fight Frankenstein – well, Frankenstein fraud anyway, another name for the rapidly growing scourge of synthetic ID fraud. It’s not a new issue, but synthetics continue to be an immense challenge for financial institutions, responsible for tens of billions of losses. Increasingly, synthetic IDs […]

PPP Fraud: A Look Back at the CARES Act

In April of 2020, amid shutdowns and with the first wave of the COVID-19 pandemic hitting the United States, Congress passed the CARES Act authorizing the first allotment of funding for the Paycheck Protection Program, or PPP. The PPP provided funding for financial institutions to make forgivable loans to businesses large and small, to pay […]

Hemp and Commercial Banking: Risks, Opportunities, Confusion

The global industrial hemp market is projected to grow from $4.7 billion in 2019 to $26.6 billion by 2025. This represents an opportunity, but also a potential compliance headache, for financial institutions interested in servicing this space. Why a headache? As you might know, hemp comes from the cannabis plant, the same source of a […]

ACFCS announces recipients of certification scholarships for ‘Agents of Resiliency’

Recipients chosen from more than 150 applicants globally to support professionals building resilient fincrime programs in the face of the pandemic May 19, 2020 – MIAMI – The global pandemic caused by the novel coronavirus has led to historic disruption in business, finance, and daily life. Yet financial crime has hardly slowed down, and the confusion […]

Inside the Lazarus Group – North Korea’s Crypto Crime and Risks to the Financial Sector

In conversation with Jonathan Levin, co-founder and Chief Strategy Officer, Chainalysis Pressured by sanctions, the government of North Korea has turned to an unexpected outlet to generate funds and move money – Cryptocurrency crime. Cyber threat groups tied to North Korea, have targeted cryptocurrency exchanges in recent years, with considerable success. Last August, a UN […]

FinCrime Resiliency Tips – Call for Submissions

Share your expertise, support the community, and win! In these times of unprecedented change, it helps to have a community at your back. ACFCS is privileged to have tremendous subject matter expertise in our member network, and that’s why we’re launching a new effort to gather tips, tricks and guidance from members to help others […]

Crypto and the Legacy Financial Sector – One World or Worlds Apart?

Presented by BAE Systems Applied Intelligence By now, most in the financial crime compliance space (though certainly not all) have accepted that cryptocurrencies are not a passing fad or a scam but are here for the long haul. That doesn’t mean they know exactly what to make of this brave new world of digital assets, […]

Financial CrimeCast – FinCrime Focus on Asia-Pacific, Part Two

Hear guidance on data management in sanctions risk, cryptocurrencies in the APAC region, AI and machine learning adoption, and changing regulatory expectations. Listen to Part One here. In the second half of this special two-part podcast series, Steven Scheurmann takes you across the Asia-Pacific (APAC) region to provide insights and highlights on key considerations in […]

Financial CrimeCast – FinCrime Focus on Asia-Pacific, Part One

Hear guidance on North Korea sanctions risk, AML enforcement perspectives, and real-time payments The Asia-Pacific (APAC) region, home to approximately 60% of the world’s population, is a burgeoning area full of innovation in financial technologies, nations with bustling economies, and growing populations. Yet accompanying these trends is inevitable financial crime risk, including trends and issues […]