Skip to main content

The top 10 2022 AML resources for financial crime fighters

Mary Ellen Biery
December 19, 2022
Read Time: 0 min

Checklists, guides, and more to help you and your AML-CFT staff 

Thousands of FinCrime professionals in 2022 have accessed these guides, checklists, and other resources produced by Abrigo's team, which includes former bankers, BSA officers, and regulators. 

Would you like other articles like this in your inbox?

Complimentary AML info

Training materials for anti-money laundering & fraud professionals

Ongoing training is vital for an effective AML/CFT program. Given the demands of day-to-day duties, however, it can be challenging for BSA officers and other financial crime compliance staff to find time for training and education on fraud and money laundering.

In addition, regulators expect that the training resources for helping staff handle their various roles and responsibilities will be tailored to their job functions within anti-money laundering/countering the financing of terrorism (AML/CFT) programs. This makes sense, given that a board member’s AML/CFT training needs are so different from those of a front-line compliance officer, for example.

Regulators expect financial institutions to have a formal BSA training plan, to be sure. But in between training activities, financial institutions can help keep AML and fraud staff up to speed on the latest trends by sharing AML/CFT and fraud resources with them.

Abrigo’s team of former bankers, BSA officers, regulators, and other experts this year produced 18 complimentary webinars on FinCrime industry hot topics, and they created more than 20 new checklists, whitepapers, podcasts, and guides to help AML and fraud staff.

Thousands of FinCrime professionals access these AML resources, which are developed specifically with the goal of making compliance staff’s lives easier.

Below are some of the most popular resources that helped financial institutions fight money laundering and fraud in 2022. The whitepapers, checklists, and guides cover everything from regulatory guidance to operational considerations.

From crypto to cannabis

Top helpful resources for AML/CFT staff

Click on the link next to the number to access each resource.

 

Understanding cryptocurrency

Crypto’s exponential growth, rising prominence, and high-profile risks make a baseline understanding of digital coins and blockchain technology imperative. This whitepaper explains the basics of crypto and blockchain technology. It also provides a glossary of critical terms related to crypto. Couple this whitepaper with the on-demand webinar, “Crypto in financial institutions – How to detect suspicious activity within your institution,” and you’ll have a basic understanding of what AML programs need to do.

Guide: Performing a successful AML staffing assessment

Staffing shortages in AML and fraud departments of financial institutions are well publicized. Indeed, in its spring 2022 Semi-annual Risk Perspective, the OCC highlighted the operational risk posed by compliance staffing problems in light of sanctions and other emerging issues. This guide will help as you’re conducting your staffing assessment. It has tips on record-keeping and analyzing your data to help determine the adequate staffing level to meet all regulator expectations.

Checklist: Ensuring AML compliance for mergers and acquisitions

The higher interest rates from the Federal Reserve have dampened banking merger and acquisition activity in 2022, but deal drivers remain strong. Whether it’s tied to the need for better technology and analytics or the desire to divest non-core bank assets, banks and credit unions will be looking to buy and sell in 2023. A strong culture of compliance should be reflected in MA& plans, and critical areas should be considered. This checklist and an on-demand webinar provide steps for preparation and evaluation ahead of a merger or acquisition.

Wildlife trafficking red flags checklist

Wildlife trafficking continues to increase among money launderers and terrorist organizations worldwide. In fact, FinCEN has seen a 154% increase in Suspicious Activity Reports, or SARs, related to wildlife trafficking. This checklist highlights red flags for wildlife trafficking and information on higher-risk customers who require enhanced due diligence. Listen to this on-demand wildlife trafficking webcast to learn even more about where wildlife trafficking is occurring and how to monitor illicit activities.

BSA compliance training: Guide for successful AML/CFT programs

Maintaining a compliant AML/CFT program is time-consuming. BSA officers can more efficiently plan for exams when they identify the key focuses that will be important. This BSA compliance training guide helps preparations for exams, outlining hot topics and common findings, as well as the key things regulators want to see in your AML/CFT program.

MainStreet Bank overcame staffing challenges. Learn how.

Keep me informed Read the case study

SAR writing checklist: Elements of an effective Suspicious Activity Report narrative

Arguably one of the most critical responsibilities of financial crime professionals, SAR writing and filing must incorporate essential items to help law enforcement. This checklist provides the essential elements to include in each SAR, what to include to create a compelling narrative, and other needed details. Watch an on-demand webcast on SAR writing to further bolster your SAR-writing chops.

Combining AML and fraud teams at your financial institution: Benefits & logistics

At many institutions, the siloes splitting risk management structures related to AML and fraud are coming down. Over two-thirds of institutions responding to a recent Abrigo survey of FinCrime professionals said their BSA department also covers fraud. This whitepaper covers the primary considerations and processes to review to ensure a combined AML-fraud team keeps your institution compliant.

Four strategies for a successful CDD program

Customer due diligence (CDD) is commonly known as the fifth pillar of BSA compliance. This whitepaper outlines strategies financial institutions can leverage before an upcoming exam to enhance their CDD program. It covers higher-risk customer assessment, mapping processes to target opportunities for efficiency gains, and addressing gaps within current processes.

The PEP and AML risk: Identifying a Politically Exposed Person and mitigating related risks

To identify Politically Exposed Persons (PEP), AML staff must understand the latest regulations and the risks that PEPs pose. This whitepaper will help you know how to handle PEPs and how to structure your compliance program to screen them adequately.

Checklist for banking cannabis-related businesses (CRBs)

With the shifting landscape related to cannabis regulation across the U.S., more financial institutions are seeking guidance on banking high-risk businesses, including cannabis-related businesses (CRBs). This checklist distills some essential concepts into a quick one-pager to describe how to adjust customer due diligence, when to conduct risk assessments, and the importance of communication.

Free newsletter

Stay updated on AML, fraud trends

Most of these resources take just a few minutes to check out, but scanning them regularly will go a long way toward keeping AML and fraud staff updated on the latest regulations, trends, and tips for managing FinCrime programs.

If you’d like to know about the latest resources as they are released, sign up for the FinCrime email newsletter. You can unsubscribe at any time, and you’ll hear about webinars, new checklists, guides, and other information right away.

Get the latest on human trafficking trends during this webinar, "Human trafficking: Detecting, reporting, and partnering for survivors."

keep me informed Watch Webinar
We can help you navigate changing AML/CFT and fraud regulations. Abrigo's BSA and AML software can help you manage customer or member relationships and stay compliant. Talk to a specialist to learn more.
About the Author

Mary Ellen Biery

Senior Strategist & Content Manager
Mary Ellen Biery is Senior Strategist & Content Manager at Abrigo, where she works with advisors and other experts to develop whitepapers, original research, and other resources that help financial institutions drive growth and manage risk. A former equities reporter for Dow Jones Newswires whose work has been published in

Full Bio

About Abrigo

Abrigo enables U.S. financial institutions to support their communities through technology that fights financial crime, grows loans and deposits, and optimizes risk. Abrigo's platform centralizes the institution's data, creates a digital user experience, ensures compliance, and delivers efficiency for scale and profitable growth.

Make Big Things Happen.

 

Looking for Banker’s Toolbox? You are in the Right Place!

Banker’s Toolbox is now Abrigo, giving you a single source for all your enterprise risk management needs. Use the login button here, or the link in the top navigation, to log in to Banker’s Toolbox Community Online.

Make yourself at home!

Looking for MainStreet Technologies? You are in the Right Place!

MainStreet Technologies is now Abrigo, giving you a single source for all your enterprise risk management needs. Use the contact us button here, or the link in the top navigation, to reach product support for your MST products.

Make yourself at home!

Looking for Sageworks? You are in the Right Place!

Sageworks is now Abrigo, giving you a single source for all your enterprise risk management needs. Use the login button here, or the link in the top navigation, to log in to your Sageworks products.

Make yourself at home!

Looking for Farin? You are in the Right Place!

Farin is now Abrigo, giving you a single source for all your enterprise risk management needs. Use the login button here, or the link in the top navigation, to log in to your Farin client portal.

Make yourself at home!

Abrigo acquires construction loan management solutions

Coupled with our lending suite, Construct and +Pay from BankLabs enable end-to-end automated residential/commercial construction loans.

Read the press announcement

BankLabs Logo Abrigo Logo

Valuant is now part of Abrigo

Together, our portfolio risk solutions and services are more robust than ever. No matter the credit risk, CECL challenge, or uncertainty ahead – you can face it head on.

Read the press announcement

Valuant Logo Abrigo Logo

DiCOM is now part of Abrigo

Best-in-class solutions to manage the life of a loan and protect asset quality in the face of growing pressure on borrowers.

Read the DiCOM Press Release

Valuant is now part of Abrigo

Our portfolio risk solutions and services are more robust than ever. No matter the challenge, we help you face it head on.

Read the Valuant Press Release