1. AMLSOURCE
Christian Focacci
AML Source, LLC
www.amlsource.com

2. AMLSOURCE
Anti-money laundering ("AML") is the term used in
the financial industry to describe the controls that
financial institutions and other regulated entities
undertake to prevent, detect, and report money
laundering activities.
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3. AMLSOURCE 3
Layering
Placement
Integration
Money laundering is the process of making illegally-gained
proceeds appear legal, and typically involves three steps:

4. AMLSOURCE
Bank
Secrecy
Act
Money
Laundering
Control
Act
Anti-Drug
Abuse Act
of 1988
Annunzio-
Wylie Anti-
Money
Laundering
Act
Money
Laundering
Suppression
Act
Money
Laundering
and
Financial
Crimes
Strategy Act
USA
PATRIOT
Act
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1970 1986 1988 1992 1994 1998 2001

5. AMLSOURCE
Prevention Detection Reporting
KYC, CDD, and EDD
(On-boarding)
Oversight, Policy, and Compliance Officers
AML Technology
AML Alert and Sanction
Monitoring
AML Investigation and SAR
Filing
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 While banks operating in the same country generally have to
follow the same AML laws and regulations, financial
institutions all structure their AML efforts differently
 Financial institutions must employ large numbers of
employees with varied skill-sets in order to comply with
these laws

6. AMLSOURCE
KYC, CDD, and EDD (On-boarding)
Professionals conducting Know Your Customer (KYC) and Customer Due Diligence
(CDD) are the first lines of defense against money laundering. Their jobs involve
collecting the required information on new clients and risk rating the
clients based on geography, industry/occupation, product, political status, and
reputational risk.
AML Alert and Sanction Monitoring
Once clients make it though the on-boarding stage, the financial institution will
usually employ an automated transaction monitoring system to detect any
transactions indicative of money laundering or terrorist financing. The alerts
generated by these systems are reviewed by teams of analysts to determine the
nature of the transactions.
AML Investigation and SAR Filing
Depending on the size of the institution, alerts deemed unusual may be further
escalated to investigative teams to review the activity and determine if a suspicious
activity report (SAR) needs to be filed. Larger financial institutions utilize several
investigative AML groups, usually specializing in a specific product or line of
business.
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7. AMLSOURCE
Oversight, Policy, and Compliance Officers
Professionals in the above categories focus on making policies for various AML
groups and dealing with situations that are new or don’t fit inside the box. They must
also be forward thinking and aware of upcoming trends in the industry to ensure that
their bank is not exposed to unwanted risk. Whereas on-boarding and investigative
positions are considered more production driven, many of the duties of the
individuals in the above roles are more theoretical in nature.
AML Technology
AML Technology is the behind the scenes group that makes many AML jobs possible.
They can implement, maintain, and fine-tune the databases that store client
information, and the monitoring systems that detect money laundering or block
sanctioned transactions. Due to the advances in technology and the very specific skill
sets needed, this is probably one of the most in demand positions in AML.
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8. AMLSOURCE
Focus Your Resume
While you may have achieved many note-worthy accomplishments in your
career, many of those may not be applicable to an AML position. Trim the fat on your
resume. Focus on areas that highlight your analytical, investigative, and writing skills.
It can also help to have a short, specific, and clear objective section for why you want
your new AML position.
Network
Try to connect with as many people as you can who are currently working in the AML
field. It usually happens that you get opportunities from some of the most unlikely
people, so never pass up a networking opportunity. LinkedIn is a great avenue to find
AML professionals and networking groups. These groups are free and many have in-
person meetings and seminars periodically. While not free, it may also be a viable
option to join a professional association, such as ACAMS or ACFCS.
Consider Consulting
Applying for consultant or temporary positions is an excellent way to gain exposure
and experience in the AML field. Based on many factors, there can be a lower barrier
for entry into the field if you come in as a consultant. In addition to gaining relevant
experience, you will also gain numerous of networking opportunities.
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9. AMLSOURCE
Years of Experience Salary Range
Less than 3 years Up to$75,000
3 - 5 years $75,000 - $100,000
5 - 10 years $100,000 - $125,000
Greater than 10 years $125,000+
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10. AMLSOURCE
City #
New York, NY 126
Newark, NJ 14
Chicago, IL 12
Englewood, CO 9
Buffalo, NY 8
Charlotte, NC 8
Columbus, OH 8
Los Angeles, CA 8
San Antonio, TX 8
Tampa, FL 8
Pittsburgh, PA 7
Jersey City 7
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Statistics from the AML Source Job Report for August 2013

11. AMLSOURCE
Company #
JPMorgan Chase 79
Citi 46
BNY Mellon 15
Standard Chartered Bank 11
WesternUnion 11
CIT Group 11
HSBC 10
PwC 7
Sovereign Bank 7
Morgan Stanley 6
PNC Bank 6
Bank of America 5
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Statistics from the AML Source Job Report for August 2013

12. AMLSOURCE
 Global & high risk
investigation groups
 FATCA compliance
 Regional and
community banks
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13. AMLSOURCE
Christian Focacci, Founder
AML Source, LLC
www.amlsource.com
contact@amlsource.com
646-450-0236
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AML Source is a highly focused job board and career hub created
solely for the AML industry. The website's goal is to provide easy
access to only the highest-quality AML positions, as well as career
information for all levels of AML professionals.
AML Source also offers sourcing and recruiting services to financial
institutions looking to hire qualified AML professionals.