AML Basics

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

November 19, 2018 Danske Bank has been caught up in one of the largest-ever money laundering scandals. Howard Wilkinson, the whistleblower who first alerted Denmark’s biggest bank to the problem, testified before the Danish parliament on Monday. HOW BIG A SCANDAL IS THIS? Some 200 billion euros ($227 billion) in payments flowed through...
November 13 2018 The historical background of money laundering legislation began with the drug trade. Initial AML efforts were introduced primarily to curb the ability of drug cartels to use the proceeds of their crimes to process money from illegal drug activity and build larger drug businesses. The key historical...
October 26 2018 The abundance of cash would, it is said, inexorably correlate with the proliferation of criminal activities. Switzerland formally denies this assertion. At the heart of Europe, a people still resists the assaults of the empire of the cashless society .Aside from the global digitization of means of payment, Switzerland remains fiercely attached...
September 24 2018 Money laundering is a serious crime that can have significant, long-term consequences for you and your business. The unfortunate reality is that small businesses are often victims of organized money laundering schemes, and one reason for this is because small business owners may lack understanding about their...
24 September 2018 FORMER prime minister Datuk Seri Najib Abdul Razak has been slapped with numerous counts of money laundering. As has lawyer Tan Sri Shafee Abdullah. Under a law that goes by the mouthful of a title – Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. The public...
September 13, 2018 In the past week alone, cases of money laundering have hit headlines all around Europe. An investigation found that up to $30 billion of ex-Soviet and Russian money had potentially passed through the Estonian branch of Denmark’s largest bank, Danske Bank. It also emerged only last week...