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...
Money laundering: Trade patents, a new tool for bringing back unaccounted wealth
"People who own patents in India are suddenly in demand - in many cases not because of the value of their inventions that may be worthless, but as a...
New AML Challenges from Cash Intensive Activities
"Cash intensive businesses are the primary target of money launderers from all over the world. Legislators, consequently, understood the importance...
Enhanced due diligence for the financial industry operating in developing economies
"Anti-money laundering and anti-bribery are two sides of the same coin. This general rule is particularly important in the financial sector, which,...
How to Use Daily Fantasy Sports to Launder Money…Let the games begin!
Users can now compete against other players to win real money and prove to friends that they know sports better. In a digital world where everything...
How an Asian PEP launders money
"Great article, worth a read just to realise the methods used by these PEP to launder money. "it is almost futile to look at PEP transactions and...
Effective staff training is vital to ensuring a successful AML framework but regional inconsistencies exisit.
The financial services industry worldwide is challenged to respond to increased and a changing regulatory AML landscape. AML as a standalone entity...
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...
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...
Canadian Banks’ Money-Laundering Controls Failed
"Canada’s top banking regulator has found money-laundering controls at the country’s banks failed on numerous occasions, according to a...
FATF published its ‘Guidance for a risk-based approach to virtual currencies
"The Financial Action Task Force (FATF) has recommended closer monitoring of digital currency exchanges and gateways to counter money laundering and...
