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AML Basics

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May 28 2019 A lot of lawyers and accountants in pulp fiction are happy to help criminals turn dirty money into clean cash. But real-world money laundering is often a case of life imitating art. Part 2 of Peter German’s report on money laundering in B.C. calls out lawyers and accountants...
March 6, 2018 The term “anticorruption” has been at the forefront of Chinese president Xi Jinping’s rule. His housecleaning campaign has targeted (paywall) Central Committee and Politburo members, political rivals and powerful tycoons. And as China’s National People’s Congress removes restrictions on presidential terms, it is also expected to shore...
August 22, 2017 Welcome to the Oregon FBI’s Tech Tuesday segment. This week, building a digital defense against cyber shoplifters.  What is a cyber shoplifter? This scam, also called a “reshipping” scam, involves fraudsters who use stolen credit cards to buy items—usually expensive items—online. Instead of having the items shipped...
June 10 2018 When the Mexican national team said goodbye to their fans at home to Scotland at the beginning of June in the direction of Russia, Rafael Márquez entered the pitch for the second half. For the first time that evening came in the chunky Aztec Stadium mood. The supporters celebrated...
September 1, 2016 None would have described Mizu Sushi Lounge in Puerto Vallarta, Mexico as nondescript. It wasn’t a traditional Mexican restaurant by any means. Patrons dined on deep-fried sushi rolls, and washed the quasi-fusion food down with icy glasses of sangria. Mizu hosted anniversaries, birthdays, and Oscar-viewing parties — and...
What is trade-based money laundering? The Financial Action Task Force (FATF) defines trade-based money laundering (TBML) as the “process of disguising the proceeds of crime and moving value through the use of trade transactions in an attempt to legitimize their illicit origins.” According to the U.S. State Department, this practice...