ACAMS AML & Financial Crime Conference Roundup #AML #ACAMSHOLLYWOOD

It has been a great three days at the 20th annual ACAMS Money Laundering Conference in beautiful Hollywood FL, I've caught up with many old colleagues and met many more new ones!! 

Here are some key highlights: 

Marijuana banking isn't just having a risk program when you will bank them, bankers must also ACTIVELY make sure they are not! 

MSB Banking is still lacking (we have some great partners for this!)

BlockChain is in version .010, an blockchain has lots more maturity & utility

Bitcoin type companies are offering equity for AML professionals

Funnel accounts are active, and technology is making it harder to identify... VELOCITY of cash is an indicator

Credit Union deposit sharing (allowed to deposit in any credit union) can be used to smurf fairly easily

De-Risking is real

Culture of Compliance

Risk Appetite


AML Talent is Lacking

3rd Party oversight

Coordinate & Communicate

Leveraging Data across the enterprise

Issue Escalation 

Document Document Document