AML Basics

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

May 21 2018 In British law, money laundering is defined as the process of concealing, disguising, converting, transferring or removing criminal property. It is an offence to launder your own ill-gotten gains, but you can also be prosecuted for knowingly helping manage another person’s dirty money. An offence only occurs if...
May 10, 2018 The bills that you carry in your pockets are numbered. Each time they accept electronic payments in more establishments, and it seems to be the consumer's preferred option. But what would a society be like without cash? We explain its advantages and disadvantages. In some places it is...
May 7 2028 The news, reported in the Washington Post, that Donald Trump used cash for many of his real estate transactions in the decade before he became president, has raised eyebrows. As David Fahrenthold, one of the reporters on the Post story, told Slate, “I don’t think that lenders have a lot...
1 May 2018 Criminals have long used money laundering schemes to conceal illegal activity. Now, technological advancements are making it even harder to police such schemes. With the advent of online platforms came fraudulent schemes used to scam people out of their money, hack accounts and defraud internet users. The proliferation...
April 17 2018 Transaction laundering has quickly evolved into one of the payment industry’s most prominent and difficult problems. Also known as credit card laundering or factoring, this type of fraud occurs when legitimate merchant accounts are used to process unknown transactions for another line of business, both legal and illegal....
April 5 2018 The backlog of money-laundering cases at Germany’s Financial Intelligence Unit stood at 30,000 at the start of February. Every month, another 5,600 cases on average are added to the pile. It probably didn’t help that, until November of last year, banks and insurance companies were submitting suspicious...