aml-knowledge-centre.org | Anti Money Laundering Blog

What does Brexit mean for Britain’s AML Legislation?

The UK has voted to leave the EU. It may be that the UK – with other non EU countries, such as Guernsey – will decide to keep the provisions of MLD4. Or it may be that it will decide on different legislation. I could imagine execution of the beneficial ownership...

Cryptocurrency: Currency of Choice for Money Laundering and Terrorist Financing?

Cryptocurrency is only used in on Darknet and by Criminals! I don’t know a topic that is more misunderstood than cryptocurrency. US regulators unofficially coined the umbrella term “virtual currency” to denote bitcoin and other...

Women are being traded as slaves on WhatsApp – here’s how the UN can act

The members of the United Nations Security Council hear terrible stories from conflict zones with alarming frequency. So it takes a truly horrific tale to bring them to tears. Yet as officials in the Council listened in December to Nadia Murad Basee Taha bravely...

Need to launder money? Take control of a Bank that’s what these criminals did

"The term “follow the money” was made famous during Watergate and is paradigm for many AML/CTF laws that require financial institutions and others such as the remittance industry to apply know your customer rules to the onboarding of new customers, establish a...

The treaty of non-nuclear proliferation with Iran: $100 billion in frozen assets, is your financial Institutions prepared for the opportunities and challenges?

Iran a country of 80 million people generates a $400 billion economy, boasts the world’s fourth-largest oil reserves, the second-biggest stores of natural gas, and has well-established manufacturing and agricultural industries. Iran would get access to more than $100...