AML Basics

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

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....
There was a discussion on one of the LinkedIn groups regarding the misuse of credit card for money laundering purposes.  Some experts shared very interesting examples which I thought might be useful for a wider audience. (Please note, I am just using their views to share it and not claiming...
Anti money laundering regime hard or soft law View more documents from Shantanu Basu
One of the drawbacks (for the criminal), of real time laundering is the necessity somewhere along the line of face-to-face contact with third parties. In fact, agencies such as the AFP and the Australian Transaction Reports and Analysis Centre base many of their anti-money laundering activities on this principle. For...
The washing cycle starts with bundles of hot cash, mostly in US currency, reflecting America's prodigious appetite for drugs and the criminal penchant for the universally accepted greenback. The weight of cash from street narcotics deals – usually $1, $5, $10 and $20 bills – exceeds the weight of...