AML Basics

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

What is trade-based money laundering? The Financial Action Task Force (FATF) defines trade-based money laundering (TBML) as the “process of disguising the proceeds of crime and moving value through the use of trade transactions in an attempt to legitimize their illicit origins.” According to the U.S. State Department, this practice...
  Any asset that can be bought and sold within a short frame is very lucrative to money launderers. Hence, it is common to see Precious Metals, art, cars and even real estate being used for money laundering. Online electronic online casino payments methods like E-Bay and PayPal too are...
Simply receiving a payment into your bank account, withdrawing the cash then sending it abroad by other means, might seem like an easy way to make as much as 20% commission. But you are likely to be helping criminals launder money. Find out how to avoid getting involved in...
A very informative presentation by Maarten van Dijck. Presentation link:  here Source page: here
By Julia Layton Money Launderering Basics The most common types of criminals who need to launder money are drug traffickers, embezzlers, corrupt politicians and public officials, mobsters, terrorists and con artists. Drug traffickers are in serious need of good laundering systems because they deal almost exclusively in cash, which causes all...