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Experts Corner

This category will list down articles which have been contributed by industry experts to be published on AMLabc.com

- by Kelvin Dickenson Can banks provide services to businesses in the marijuana industry? It’s complicated.  Thirty-three U.S. states plus D.C., Guam and Puerto Rico have made the use of marijuana legal to varying degrees. But complicating matters for banks, cannabis is still classified as a Schedule 1 drug under the...
A report prepared by Alix Partners Our 2017 global anti-money laundering and sanctions compliance survey explores how financial institutions are managing their compliance programs amid growing risk and heightened regulatory expectations. At a glance Although we may assume boards stay engaged, 20% of respondents do not provide training to their board or are...
Was India's demonetization initiative really a failure? In this article I would like to walk through the benefits of this exercise, even if majority of the cash was returned to banks
Imagine, you purchase your favourite mobile brand without any sales tax, your restaurant bill does not include a Value Added Tax, and best of all you do not file an annual income tax return! Well, all this is possible.  ArthaKranti Sansthan is a Pune-based Indian group of accountants and engineers....
Banks and other financial institutions entered 2017 facing an increasingly daunting framework of anti-money-laundering (AML) laws and regulations. During the past several years, regulatory agencies have been aggressively stepping up their enforcement actions, and they’ve levied huge fines for compliance failures. For instance, the New York State Department of Financial Services (NYDFS)1...
Disclaimer: These are my own perceptions after actual visit to one of the royal floating "Casinos" on the picturesque Mandovi River in Panaji, Goa. So, let me start, take a ride to Goa with a bunch of friends, shell some 1500 bucks for an entry to Casino, you will be...