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November 7 2018 Since the U.S. Supreme Court overturned a national ban on sports gambling, many states have rushed forward to legalize the practice. Full-scale sports gambling is now permitted in six states. More than 20 other states and the District of Columbia are on their way. But a degree of caution...
November 4 2018 Federal Investigation Agency (FIA) Khyber Pakhtunkhwa Deputy Directior General Tariq Pervez on Sunday said that his team has uncovered 30 more 'benami' bank accounts, which he alleged were being used for money laundering activities. According to Pervez, the accounts are under the name of eight domestic workers who...
November 5 2018 A residential chawl, a slum rehabilitation centre and a vacant building. That’s what bank audit teams found at addresses of some companies owned by the Sandesaras of Sterling Group — from where they ran a flourishing business, at least on paper. Many addresses were also fictitious. The Sandesaras, now said to be...
November 8, 2018 The European Commission has ordered Denmark and Estonia to completely transpose the fourth anti-money laundering directive into national law or face a possible court battle. “The European Commission considers it a matter of urgency that all the member states transpose this directive as fast as possible,” the commission...
November 5 2018 Malta’s financial intelligence unit (FIAU) is advising banks and other money handlers to apply “proportionate” risk profiles to clients who could be associated with politically-exposed persons (PEPs). Under new anti-money laundering rules, PEPs will be subject to stricter, enhanced due diligence procedures by institutions like banks, but so...
NOVEMBER 6 2018 For years, Malaysian couple Ganesh Kalimuthu and his wife Macquelene Patricia have been under scrutiny after being caught up in a bizarre money laundering scheme known as “cuckoo smurfing”. The colourful term refers to dodgy foreign money transfer businesses swapping “clean” cash with drug money before depositing it...