AML Basics

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

OVERVIEW Use of financial structures and shell-companies in order to conduct laundering of proceeds of crimes against the Public Administration by Politically Exposed Persons. RED FLAGS External signs of disproportionate wealth. Politically Exposed Person (PEP.) Use of companies incorporated in little or no-taxation countries that do not show apparent business activity or are incorporated...
This Typology shows an alleged money laundering arising from crimes against the Public Administration of a foreign State conducted by means of real estate trading transactions, channeling of money through tax havens, establishing shell companies, self-loans, and other real estate transactions in the country with participation of relatives and...
By Adam Davidson (© NYTimes) Earlier this month, I decided to see how hard it would be to set up my own offshore bank account. I figured it would be pretty difficult, because I’m not rich and don’t have a team of tax lawyers to oversee my money and because...
.prezi-player { width: 600px; } .prezi-player-links { text-align: center; }Illicit Financial Flows Around the World on Prezi A very informative presentation by Ann Hollingsheadto show the flow of illicit funds, globally.
Robert Mazur, author of “The Infiltrator”, spent five years working undercover for US customs, and was instrumental in bringing down Pablo Escobar's Medellin drug cartel. He gives and inside view of international money laundering. He gave a presentation on banking fraud, the audio of which can be accessed (click...
  Image inspired by the BBC example (bbc.co.uk) The allegations involving Standard Chartered and HSBC both centred on U-turn transactions. An international transaction where money transferred out of a country is immediately followed by an incoming transfer back into the country, without any obvious business rationale or logical explanation. More details on...