Tighter U.S. CDD requirements and what they mean for foreign banks…Deadline to Comply is MAY 2018

Tighter U.S. CDD requirements and what they mean for foreign banks…Deadline to Comply is MAY 2018 In the aftermath of the Panama Papers controversy, governments have been discussing ways to promote more financial transparency. Financial Crimes Enforcement Network...

Judge rules Bitcoin is not money…Does this ruling open Pandora’s Box for Money Launders?

A recently-issued ruling by a South Florida judge that Bitcoin is not money, but equates more to property, has law enforcement puzzled, they feel the legal ramifications of this ruling could make it much more difficult to bring charges against future money laundering...

Follow the Money – Has Cryptocurrency Rendered this Adage Useless?

Cybercriminals predate the use of cryptocurrency Indeed, editorial stories like this one “Bitcoin Gains Value Due to Criminal Use [Only], writes a Forbes Columnist” has influenced many into believing that cryptocurrency is only...

Money laundering in Russia and what we know!

Money laundering in Russia has its own characteristics. In the normal world money laundering is the transformation of "illicit money" into "clean money": criminals selling drugs to invest in real estate, in Russia it is different. There money laundering mostly means...

Artificial intelligence: Reducing the AML Compliance Burden

How did we get here? Since 9/11 financial institutions have made enormous investments in their anti-money laundering compliance programmes, but they are still faced with manual processes and complexities in complying with financial crime regulations. “One would be...

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