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AML Basics

If you are new to the AML area, you should start here…

March 10 2019 You’re a Russian criminal with millions of dollars in ill-gotten gains but one big problem: Transferring slugs of money or carrying suitcases of cash will raise eyebrows. You need to “launder” the dough — make the dirty money appear to be the proceeds of legitimate enterprise. Then...
 February 6 2019 The West’s failure to prevent money laundering endangers the European project. As the US authorities step up their investigation into alleged crimes at Danske Bank, Europe is left to reflect on a year in which it underestimated yet another threat to the rule of law – this time, not...
February 05, 2019 The money laundering industry thrives on the art of trickery. Money launderers make it difficult to detect the origin of illegitimate money. The risks of money laundering go beyond the financial sector and impact the economy in its entirety. It is difficult to assess the exact monetary...
January 24 2019 Financial crime is multi-faceted, multinational and very often invisible, making it hard to identify, measure and combat. Its impact is felt in many ways. For those forced into slave labour by criminals infiltrating supply chains, or the victims of sex trafficking gangs who launder their profits through the...
January 23 2019 For many years, the federal government has required banks, brokerages and even casinos to take steps to stop customers from using them to clean dirty money. Yet one major part of the financial system has remained stubbornly exempt, despite experts’ repeated warnings that it is vulnerable to criminal...
January 2 2019 Anti-money laundering (AML) compliance failures amassed $1.7 billion in fines in the first half of 2018 with over $1 billion of that resulting from actions taken by US prosecutors and regulators, according to the 2018 Mid-Year Anti-Money Laundering Review and Outlook by Debevoise...