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Latest news related to Anti-Money Laundering.

By Business Line From next month, your insurance premium beyond Rs 50,000 can be paid in cash only if you have a permanent account number (PAN). The insurers should verify the authenticity of the permanent account number, according to the modifications in the anti-money laundering norms announced by the Insurance...
By ARAB NEWS Published: Oct 13, 2011 01:34 Updated: Oct 13, 2011 01:34 RIYADH: Board level interest in anti-money laundering (AML) is being squeezed by other priorities, according to KPMG’s Global AML survey 2011. The survey revealed a nine percentage point drop in boards considering AML to be a high profile...
FINRA Fines Merrill Lynch $1 Million for Supervisory Failures That Allowed a Registered Representative to Operate a Ponzi Scheme The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc., $1 million for supervisory failures that allowed a registered representative at Merrill...
The Set-Up You receive an email offering you an amazing job. The Hook You’ll earn big bucks for seemingly little work. The Sting You’ll end up becoming a money mule, breaking the law and having your bank account cleaned out. What a money mule/money laundering scam looks like Money laundering is when somebody tries to ‘launder’ money they’ve earned from unlawful activities to make it look...
The Federal Deposit Insurance Corporation (FDIC) is warning financial institutions of an increase in schemes to recruit individuals to receive and transmit unauthorized electronic funds transfers (EFTs) from deposit accounts to individuals overseas. These funds transfer agents, often referred to as "money mules," are typically solicited on the Internet...