AML Basics

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

MAY 1, 2019 British Columbia has been rocked by financial scandal following revelations that its casinos had become “laundromats for organized crime” over the past decade, with Chinese criminal gangs transforming the province into a global money-laundering hub with links to the fentanyl epidemic. But the scandal may go back further than a...
March 18 2019 The term “money laundering” is believed to have originated as a result of infamous Chicago gangster Al Capone’s habit of channeling criminally obtained funds through laundromats, as their cash-heavy nature made it more difficult for the right side of the law to detect such money mixed in among legitimate...
March 20 2019 Money laundering is a criminal endeavor that's more pervasive than you might think. According to government sources, between $800 billion and $2 trillion in cash is laundered internationally on an annual basis. By definition, money laundering is a practice that turns money received illegally into money that is...
March 12, 2019  Some of the most well known banks in the world are also the biggest money launderers. The recent Troika Laundromat affair added another $8 billion to the trillions financial institutions wash every year. Over $2 trillion is laundered annually by criminals who utilize various ways to hide...
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...