Posted on January 2, 2016
ACAMSTODAY recently magazine published an article I wrote for the December '15 - February '16 edition (Vol. 15 No. 1). The editorial staff chose the title "Risk Assessment in the Great White North" which is a much appreciated nod to Canada's lesser known but hilariously funny anti-money laundering investigators Bob and Doug Mackenzie. The article is available online with an ACAMS subscription. In the article I argue that although the biggest money laundering threat in Canada comes from organized crime placing proceeds from a host of fraud-related crimes our national strategy fails to mitigate this risk in any meaningful way.
This is the third article I have written for ACAMSTODAY. I enjoy writing articles because it allows (actually requires) me to dive deep into a subject and conduct some significant research. This builds up some expertise and also allows me to support a particular position. In this article I argue that Canada is not doing a very good job developing and exercising anti-money laundering strategies, especially as it pertains to supporting criminal investigations. It certainly seems to me like Canada's reporting entities are being made to do all the heavy lifting while our enforcement agencies are dodging significant responsibilities. I use examples from my career as a police detective in support. I also offer some suggestions on how Canada could shift its strategies to meet the risks identified in the national risk assessment conducted by Finance Canada.
When you are looking for a consultant, be sure and take a few minutes to look over their credentials. Published articles, posts on LinkedIn, presentations at local and international conferences are all signs of developed expertise. Many of the professionals in the field whom I admire make a concerted effort to augment their skills and body of knowledge by successfully performing such expertise building activities. Our fields are constantly evolving and this requires consultants and in-house subject matter experts to stay abreast.