This year’s ACAMS Assembly Hollywood, held from April 28–30 at The Diplomat Beach Resort in Hollywood, Florida, was an exceptional event. With over 1,500 fellow financial crime professionals in attendance, the conversations were as rich and complex as the challenges we face in our field.
Like many others, I left the event both energized and deeply reflective, particularly about the emerging risks and innovative solutions shaping the future of financial crime prevention. Here’s what stood out most to me.
1. Insider Misconduct: A Growing Concern
One of the most resonant topics throughout the conference - both on stage and in side conversations - was the threat of insider misconduct. Sessions like “Inside Job: Guarding Against Fraud Threats in Financial Institutions” highlighted just how critical this issue has become.
The discussions in Hollywood reaffirmed that AML officers need to be more informed about their institution’s insider misconduct program and the effectiveness of related controls, given their importance in identifying suspicious activity. Given the current focus on insider misconduct, a review of a financial institution’s insider misconduct program to identify opportunities for enhancement would be time well spent if such a review hasn’t been done recently.
2. The Role of Generative AI in Financial Crime Risk Management
Unsurprisingly, AI was one of the hottest topics of the week. From GenAI’s potential in transaction monitoring to its broader applicability, the conference provided the opportunity to share valuable, practical insights. But what really resonated with me were the candid acknowledgments of implementation hurdles—model governance, explainability, and data quality.
As clients look to enhance their financial crime programs with AI capabilities, with the intention of driving efficiencies and proactively identifying hidden threats to really drive value out of financial crimes compliance, it was encouraging to see open dialogue that benefits all.
3. Navigating De-Risking Pressures
The conference didn’t shy away from the complex interplay between financial crime risk, broader compliance obligations, and financial inclusion. The ongoing challenge of de-risking is still front and center in our community, with regulatory experts urging institutions to pursue smarter, not broader, risk management.
For those of us advising on regulatory strategy, this topic hit home. It’s a reminder that our financial crime frameworks and policies cannot be developed or refined in a vacuum. Legal, Compliance, Operation, and even Marketing partners must be engaged and kept informed of changes, especially regarding de-risking. The financial services industry needs to support access to essential financial services, including in high-risk geographies or underserved communities.
4. Sanctions Compliance and Export Controls: No Signs of Slowing Down
Sanctions regimes continue to grow in scope and complexity. The session on “Transatlantic Sanctions and Trade Controls” was especially valuable, offering actionable advice on managing multi-jurisdictional obligations.
AML RightSource’s clients are navigating increasingly intricate webs of requirements, and our teams are actively helping them improve the agility and accuracy of their sanctions screening and escalation processes.
Built on Community
Whether during panel Q&As, networking receptions, or informal dinners, the level of collaboration in the financial crime community was evident.
Financial crime threats are evolving rapidly, but so is our capacity to innovate, adapt, and protect the financial system through smarter compliance strategies and stronger alliances. The opportunity to share and collaborate during the Assembly enables this constant evolution.
I’m grateful to have shared space with so many forward-thinking professionals and to bring fresh insights back to our clients.