AML Basics

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

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...
The economic turmoil and financial crises of 2008 fueled a surge in financial fraud. The International Monetary Fund (IMF) estimates that money laundering amounts to somewhere between hundreds of billions of dollars to more than a trillion dollars per year, or two to five percent of the world’s Gross...
Why do people need more money? This is because, the modern lifestyle believes in achieving luxurious living conditions and the way towards such achievements is relatively complicated. When such goals ensue, people become more and more desperate for money and this becomes the driving force behind the modern society. Therefore,...