AFC: The new lingua franca

“I have waited my whole life for this!” exclaimed my nine-year-old nephew as his teacher was asking who could translate for a new student who was a recent arrival to the U.S. My nephew had been learning Spanish from his mother and through the immersion program taught at his elementary school and when the time came for him to step up, he was ready because he had achieved fluency in Spanish and felt comfortable enough to translate.

This edition’s headline article: “AFC fluency,” written by ACAMS Today Editorial Committee member, Steve Gurdak, details the importance of how adopting a financial-based investigative strategy at the beginning can benefit investigations. But at the same time, early adopters may find that not everyone is fluent in investigative strategy and there might be a language barrier with cohorts. Even if this is the case, it is still important to stay up-to-date with technology and the new investigative strategies in anti-financial crime (AFC). Similar to learning a new language and staying current with the evolution of the language, AFC professionals need to update their investigative skills to properly communicate with other investigators.

Our second cover article, “The costly ‘hello’: Dissecting job scam fraud,” is in line with the abundance of fraud that continues to plague society and requires the ability to read between the lines of language. In this article, authors Richard Graham and Cristian de Ritis, cover the epidemic numbers reported by the Federal Trade Commission on the loss Americans have experienced due to fraud: a staggering $12.5 billion. Within that number, job and employment scams increased to over $500 million in 2024. This article walks you through the reason for such an increase, the damage done by fraudsters beyond the initial financial loss, who are the vulnerable groups and patterns banks should look for when tackling this type of fraud.

Other notable themes covered in this issue are the comeback of paper instruments, such as checks, being a problem once again exploited by criminals; FIFA and anti-human trafficking; combating illegal mining in the Amazon; hybrid movements in terrorist financing and more.

Adding to the AFC lingua franca, this edition contains an interview highlighting the power of mentorship in Ukraine through the UPLIFT program championed by Oksana Ihnatenko and Nataliia Kholchenkova and an interview with the CEO of Northwest Battle Buddies, Shannon Walker, who pairs service dogs with veterans.

As we prepare for the World Cup and as we look ahead during these turbulent geopolitical times, it is important as AFC professionals to be ready for the call at any time when we might need to translate the AFC language to business lines, new colleagues in the industry, to board members and other partners in the fight against financial crime. I hope we can all exclaim a version of what my nephew said, “I have been preparing for this moment my entire professional career!”

Karla Monterrosa-Yancey, CAMS editor-in-chief Follow us on: @acamstoday,