Transaction Laundering is the New, Advanced Form of Money Laundering

On: May 23, 2018

Electronic Money Laundering, known as Transaction Laundering, is the digital evolution of money laundering and has become one of the biggest challenges facing the Anti-Money Laundering (AML) regime today. Transaction Laundering occurs when an undisclosed business uses an approved merchant’s payment credentials to process payments for another undisclosed store...

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Why is Europe’s Online Privacy Regulation Impacting Merchant Risk Monitoring?

On: May 21, 2018

As the world copes with repercussions of the Facebook/Cambridge Analytica scandal, the Internet continue its struggle to find the right balance between global interconnectivity and the right to privacy. The General Data Protection Regulation (GDPR), enacted by the European Union (EU), comes online at an apt and interesting time....

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The High Cost Banks Pay for Money Laundering

On: May 16, 2018

It’s a tough time to be a financial institution – big or small. In addition to the increasingly serious and sophisticated threats of cybercrime, and the tremendous financial and legal burden to mitigate those threats – banks and other financial services organizations are facing unprecedented regulatory pressure to adhere...

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Trump Signs Fight Online Sex Trafficking Act (FOSTA) Bill: The Impact on the Payments Industry…and the Entire Internet

On: April 24, 2018

President Trump signed FOSTA (Fight Online Sex Trafficking Act) into law on April 11, dropping a bomb on the online payments industry, sex workers and the Internet entirely. The bill, passed by Congress at the end of March, broadly makes any “any information service, system, or access software provider...

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What Every ACAMS Member (and AML Professional) Should Know About Transaction Laundering

On: April 04, 2018

The Association of Certified Anti-Money Laundering Specialists (ACAMS) is the most prominent global anti-money laundering/counter-terrorist financing (AML/CTF) organization in the world. Members of the ACAMS include government regulators, compliance officers, attorneys, and accountants. The Certified Anti-Money Laundering Specialist (CAMS) title is granted by the organization to individuals who have...

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