AML Basics

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

March 2, 2016 Requests to the UK from overseas for help in fighting financial crime rose 62 per cent last year, highlighting the advance of cybercrime and the vulnerability of London-based banks to money-laundering attempts. The Serious Fraud Office , which investigates cross-border fraud, mostly bribery and corruption, received 55 requests...
February 17 2016 On February 14, the Financial Action Task Force (FATF) and the Coalition Counter ISIL Finance Group (CIFG) held a joint session to further mutually reinforcing work to combat the financing of ISIL (Da’esh) and to protect the international financial system from abuse by the terrorist organisation. This...
From howmuch.net: We decided to find the lowest places in the world for havens from personal top income taxes. We analyzed personal top income tax rates along with gross domestic product per capita (GDP) to come up with the following map. Countries that appear larger on the map have a lower...
February 5 2016 THE Reserve Bank of Zimbabwe (RBZ) has put in place stringent prudential measures to plug illicit financial flows, as it emerged that close to $2 billion was spirited out of the country last year by individuals and companies, worsening the liquidity situation. The new measures include, among others,...
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