AML Essentials: Refreshing the Foundation eBook

By AML RightSource | January 10, 2020

Keep the foundation strong Keeping a program fresh, up-to-date, and productive takes a commitment of human and financial resources. A key factor in operating a successful program is understanding the essentials of such a program. This eBook will give you insight into how the requirements for an AML compliance program have changed, an understanding of effective risk assessments, an understanding of what a high-risk customer is, and the value of the IRS to your compliance…

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Machine Learning & Robotic Process Automation: The Next Steps in AML Technology

By AML RightSource | November 19, 2019

In recent years, discussion of technologies such as Artificial Intelligence (AI) and Machine Learning (ML) flooded the AML industry, raising many questions regarding their application and impact. However, positive impact of their applications in the financial sector proves that AI and ML are more than buzzwords; they’re potential new tools to enhance AML compliance efforts.  Applying these innovative approaches in the AML industry is just the beginning. More financial institutions should incorporate these technologies to…

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Rethinking AML Compliance in the Age of Disruption

By AML RightSource | October 23, 2019

Shift your focus forward. Money laundering and other financial crimes continue to create increased risk to the global financial system, and support criminal/terrorist activity. All participants in the financial industry need to work to stem the problem of money laundering and financial crime. This ebook will give you insights into how FinTech companies; strengthening an existing AML compliance program; preparing an effective Suspicious Activity Report (SAR) narrative; and attracting new talent to AML compliance can…

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Model Validation vs Tuning & Optimization Whitepaper

By AML RightSource | June 12, 2019

How do you validate your financial model performance? A recent supervisory guidance (OCC 2011-12) highlighted why financial institutions should maintain BSA / AML models that produce productive alerts. However, regulators have been ambiguous about whether it’s best practice to use a model validation or a model tuning/optimization process. To find the best solution for your financial institution you’ll need to understand how these processes work and the potential benefits of each. In this whitepaper, you’ll learn…

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Illicit Funds in Terrorism Ebook

By AML RightSource | May 28, 2019

Organized crime and terrorism groups both rely on laundered money to fuel their operations. If left unchecked, these organizations can cause massive economic damage and even lead to the loss of life. It’s up to financial institutions to understand how terrorist organizations raise, move, and use funds in order to disrupt their cash flow and prevent future attacks. This ebook will give you a detailed look at the terrorist-funding landscape and provide you with actionable…

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The State of AML Practices in 2019

By AML RightSource | February 11, 2019

Learn how to be effective in the 2019 AML industry Criminals are always looking for new and innovative ways to launder money. AML professionals will need to stay abreast with industry-wide trends and new illicit practices to stop financial crime in its tracks. But finding time to do your own research is difficult, especially when your schedule is already full with your other AML duties. That’s why we’ve curated the most important AML industry information…

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Evaluating Controls in the Risk Assessment Equation

By AML RightSource | January 25, 2019

The Federal Financial Institutions Examination Council (FFIEC) requires financial institutions to develop and maintain an Enterprise Wide Risk Assessment (EWRA). Yet, this council provides little guidance on how companies should develop an effective EWRA process. This white paper shows you specific tactics for improving your EWRA control effectiveness and protecting your organization from financial risk.

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Protect yourself from illicit funds hidden in artwork

By AML RightSource | January 21, 2019

Did you know criminals can use art to evade taxes and launder money? First, art’s value is subjective so prices can fluctuate without explanation. Second, art transactions lack the regulations required by other industries like real estate or business. This resource gives you a better understanding of the illegal art world and the tactics you can use to protect your financial institution from handling dirty art money.

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The confidential nature of SARs is not new. To ensure that your organization avoids violating this rule, the protocols your institution uses to mitigate this risk should be reviewed and included in your AML training program. hubs.ly/H0n84gt0

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