AML Basics

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

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...
August 3 2017 Commonwealth Bank Australia was accused of 53,700 breaches of money laundering laws by Australia's financial intelligence and regulatory agency, AUSTRAC, on Thursday -- that much you've probably already heard.  AUSTRAC alleges Commbank seriously and systematically breached compliance of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws using...
January 2 2019 Anti-money laundering (AML) compliance failures amassed $1.7 billion in fines in the first half of 2018 with over $1 billion of that resulting from actions taken by US prosecutors and regulators, according to the 2018 Mid-Year Anti-Money Laundering Review and Outlook by Debevoise...
July 17 2018 Buyers and sellers can exchange cash in person, transfer bank funds online or can exchange funds for prepaid cards, gift cards or other cryptocurrencies. The need to launder money is omnipresent in the criminal world, and lately, a new way of doing it has come to the fore:...
May 26 2018 Everyone has heard of money laundering. It features prominently in TV shows like “Breaking Bad” and “Narcos” and just about every Mafia movie since the 1980’s. Despite this, few people know how money laundering works. A perfect example comes from the cinematic classic “Office Space”, where after executing a...
August 30, 2016 Aziz Rahman, Senior Partner at serious and corporate crime defence specialists Rahman Ravelli, has urged accountants, auditors and IFAs to treat the EU’s ongoing drive to eradicate money laundering and terrorism financing as a “wake-up call”. The European Commission unveiled an Action Plan earlier this year, which followed on from...