AlertPay's Chief Anti-Money Laundering Officer, Faisal Islam, shares his experience with scam and fraud prevention at the ACAMS conference in Las Vegas.This week, one of AlertPay's dedicated employees will be speaking at the ACAMS conference in Las Vegas. For those of you who do not know, ACAMS - the Association of Certified Anti-Money Laundering Specialists - is an international association that certifies and educates Anti-Money Laundering specialists the world over.
ACAMS proudly represents 10,000 members in more than 160 countries and is a worldwide leader in Anti-Money Laundering/Counter Terrorism Financing (AML/CTF) training, education and networking opportunities.
Attendees at this conference include employees from US banks, law enforcement agencies, securities brokers/dealers, insurance companies, money services businesses and more! People attend this conference not only to network with other industry professionals but to attend educational workshops on various topics like the following:
- AML risks and controls in alternative currencies and payment systems
- Forging beneficial regulator/law enforcement partnerships
- Creating customer surveillance programs
- Effectively risk-rating your products and customers
- Cyber fraud and online banking
- And many, many more!
Our Chief Anti-Money Laundering Officer, known simply as "Faisal" in the office, was selected to represent AlertPay at the ACAMS conference in Las Vegas this week because he specializes in online systems, non-traditional banking compliance and emerging technologies, and is as passionate and outspoken about this subject as someone in this field should be! He also works closely with Latin American remittance firms to bridge the gap between traditional and modern methods of sending and receiving money safely and securely.
He is currently working on a project to produce an open-source worldwide AML knowledgebase. He has also helped to bring knowledge about strategies for compliance and structure to entities that refused to modernize and revise outdated and inefficient methods.
One of AlertPay's main priorities is to utilize the best anti-fraud and AML/CTF tools on the market, such as 3-D Secure, account verification, website review for new merchants, phone validation, and more. But tools are not enough; AlertPay is proud to brag about our highly competent and dedicated Compliance, Scam and Fraud Prevention specialists who act as veritable watchdogs for individuals and businesses who aim to use our platform for suspicious, questionable and just plain illegal activity. Good luck getting past these guys.
A bit about anti-money laundering?
In the simplest terms, anti-money laundering is the practice of identifying and guarding against illegal activity (traffickers, embezzlers, scammers, con artists, etc...) revenue and money being transferred into legitimate financial transaction channels. Money comes from Point A (illegal source of funds, scamming, drug dealing and weapons dealing) to look like it came from Point B (think "front" or a "shell company", like Nancy Botwin's muffin shop in the series "Weeds"). The point of money laundering is to make the funds look legitimate so that government does not seize it due to its illegal origins).
In a nutshell, anti-money laundering is a safeguard against unethical and shameful activities, and we at AlertPay do everything in our power to prevent scams. Going to conferences like these, engaging in discourse about the subject, networking and making connections, and educating specialists and lay people alike about new trends, tools and strategies is how we attempt to keep people, members and non-members, safe from the damage and rot of money laundering.
0 comments:
Post a Comment
Feel free to post general comments. Please do not send support tickets through this section as they will not be addressed here.