Sanction Screening the Intensive Care Patient…Innovation the Cure!

However, minor the task of sanction screening or name filtering sounds it contributes to a significant amount of false positives and is a time consuming task that leaves less time for other AML patients. And in today’s environment of tighter AML regulations,...

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 conduit to launder money. There have been many cases in recent months where patent owners made millions by selling...

Money Laundering in a Digital Age – The Perfect Storm

The new Black With the rapid advancement of mobile technologies, the internet is now accessible from any- and everywhere. Open banking (PSD2) in the European Union, together with mobile wallets, instance payment initiatives and cryptocurrencies offer...

Money Laundering in Russia Case Study: Space Industry

The Office of the Investigative Committee of Russia (IC) in Moscow has completed an investigation of the theft of more than a billion rubles (>$14 Million) by the supply of an electronic component for a module, which should be installed on the International Space...

“FinCEN Finalizes Customer Due Diligence Rule Amid Other Actions to Enhance Financial Transparency”

"In the wake of the Panama Papers controversy, the U.S. government has taken major steps this month to promote financial transparency. First, the Financial Crimes Enforcement Network (FinCEN) finalized its proposed rule issued in July 2014 (see client alert, “FinCEN...