AML Basics

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

March 19 2018 The financial-services industry has been roiled by a perfect storm of disruptive forces. Complex regulatory-compliance requirements, aging legacy assets and operating models, digital innovation and fintech have rapidly changed the operating environment. The evolving regulatory landscape that accompanies those changes, worldwide political changes and record monetary fines...
DECEMBER 13 2017 Cases from Azerbaijan and Brazil to FIFA and Malaysia have shown how corrupt networks are able to open bank accounts, transfer funds across borders and acquire prime real estate and luxury goods in global capitals. Since 2014, a global anti-money laundering body called the Financial Action Task Force...
June 12 2018 A few weeks ago, Justin flagged an Oregon case alleging money laundering through the Black Market Peso Exchange, one of the most successful and efficient laundering schemes in the world. The Black Market Peso Exchange is a trade-based money laundering technique commonly used by narcotics traffickers based in Colombia...
February 09, 2018 As correspondent banking becomes fraught with issues, but remains a central aspect of business, the industry is seeing an overhaul of its guidelines to ensure high standards of due diligence while still allowing business to flow. The update of the Wolfsberg questionnaire on due diligence has been expanded...
September 29 2017 In charge of the fight against dirty money, Tracfin, the French cell of the Ministry of the Economy, recorded an unprecedented increase in its activity in 2016. This information and action service known as "the big ears of Bercy" is at the origin of most of the...
  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...