AML Basics

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

1. What are money laundering and terrorist financing? 1.1 What is money laundering? Money laundering is the conversion of the proceeds of criminal activity into apparently clean funds, usually via the financial system. This is done by disguising the sources of the money, changing its form, or moving the funds to...
The problem is more pronounced in commercial real estate, Rosen says. White collar criminals turn to commercial real estate to integrate ill-begotten gains into the economy because dollar amounts can be high and transactions complex, with different corporations sometimes involved, including off-shore corporations that wire money in from accounts...
Meyer Lansky... one of the most successful money launderers in modern history. He schemed, siphoned and skimmed money from illegal gains in the casino business and filtered $1 billion through Swiss banks, Hong Kong businesses and shell companies in the Caribbean. He even bought an offshore Swiss bank to launder...
As with previous editions, the fifth edition of Protiviti’s well-received Guide to U.S. Anti-Money Laundering Requirements: Frequently Asked Questions contains questions that have surfaced in our discussions with clients, attorneys, regulators and others, both in the United States and other markets. Over the years, the number of questions and answers included...
Life insurance policies having a cash surrender value are of particular interest to money launders as they provide attractive a money laundering vehicles. The cash value of policies can be redeemed by a money launderer or may be used as a source of further investment of tainted funds, for...
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...