AML Basics

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

Preamble The continuing threat of money laundering through financial institutions is most effectively managed by understanding and addressing the potential money laundering risks associated with customers and transactions. Therefore, the Wolfsberg Group  has developed this Guidance to assist institutions in managing money laundering risks and further the goal of Wolfsberg Group...
Egmont Presentation from Gibraltar FSC Coverage: Gibraltar background Identifying AML/CFT risks in Gibraltar Emerging Financial products - New payment method Presentation link: click here
Introduction Chairman Levin, Ranking Member Coburn, and distinguished members of the Subcommittee: On behalf of Secretary Napolitano and Director Morton, thank you for the opportunity to appear before you today to discuss the efforts of U.S. Immigration and Customs Enforcement (ICE) to combat transnational criminal organizations (TCOs) and the illicit proceeds...
Global Witness produced the images that follow, very recently. I reproduce them with their permission. They’re powerful for one good reason. They’re just what happens. Crime is as easy as they portray. The question is,  which politicians are willing to stand up and change this?
CARTONS of cash in the Kabul airport, a strategically placed teller’s window just before immigration in Antigua, and some lines of code in accounting software in a bank in the Dominican Republic—seemingly unrelated phenomena, but all part of the global problem of money laundering. And all are linked to...
ONE hundred and fifty years after Charles Dickens wrote in Little Dorritt about London investors succumbing to the fraudulent investment schemes of Mr. Merdle’s bank, trusting victims are still tempted by such get-rich-quick swindles. Ponzi schemes, which lure investors by paying high returns from other investors’ money, thrive even in developed countries....