AML Basics

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

February 8 2016 To remedy perceived limitations of the Currency Transaction Report (CTR), the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) is seeking comments on potential changes to the form. Comments are due by April 4. According to FinCEN, this is primarily due to the fact that, since the current form...
January 13,  2016 Do you know your baksheesh from your bribery? Your cronyism from your collusion? Read this glossary of terms relating to corruption to find out what they all mean. Sources: U4 Anti-Corruption Resource Centre Transparency International
January 10 2016 In most countries they are the government's unsung heroes, toiling behind the scenes to ensure its laws and policies are implemented properly. But in Nepal civil servants have become the unlikely centre of attention after a TV talent show-style scheme was launched to find the most honest bureaucrat...
January 8 2016 UK printing company Smith and Ouzman Ltd, convicted of making corrupt payments, was today ordered to pay a total of £2.2 million in a sentencing hearing at Southwark Crown Court. The conviction and sentence follows a four-year investigation by the Serious Fraud Office. The Eastbourne-based company, which specialises...
January 12 2016 Authorities in Switzerland are in talks to arrange the return to Nigeria of $300 million confiscated from the family of its former military ruler, Sani Abacha, Nigeria's foreign minister said.  Foreign Minister Geoffrey Onyeama said $700 million had already been repatriated from Switzerland, adding that he met...
December 31 2015 John Cassara, a former U.S. intelligence officer and Treasury Department special agent,published a book last month about trade-based money laundering. In an interview he discusses the issue, how to fight it and what it would take to achieve trade transparency. The interview was condensed and lightly edited...