Broadening the scope of AML

Preparing for the European Union Sixth Money Laundering Directive Anti-money laundering (AML) law is constantly evolving. And necessarily so, given the increasingly sophisticated methods and technologies that criminals and terrorists use to move illegally earned funds...

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 is becoming social winning can be more about pride than money for many. However, there are those that will see Daily...

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 terrorism financing. The 48-page document acknowledges that digital currencies carry several economic benefits such as...

Trade-based Money Laundering – and How to Combat It.

With international trade valued at approximately US$ 16 trillion per annum, it provides ample scope for money laundering. According to the International Narcotics Control Strategy Report (INCSR) hundreds of billions of dollars are laundered annually by means of...

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 under compliance, to a complex and much broader function cutting across many entities as legal, risk, operations, sales...