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Experts Corner

This category will list down articles which have been contributed by industry experts to be published on AMLabc.com

March, the 31st; last day of the accounting/taxation year. Accountants and auditors are having a busy day finalizing accounts, similarly would be “smart” brains using colorable devices to avoid tax or disguise ill-gotten money. An important instrument of such schemes is using income derived from agricultural activities to hide...
Banks and other financial institutions entered 2017 facing an increasingly daunting framework of anti-money-laundering (AML) laws and regulations. During the past several years, regulatory agencies have been aggressively stepping up their enforcement actions, and they’ve levied huge fines for compliance failures. For instance, the New York State Department of Financial Services (NYDFS)1...
Disclaimer: These are my own perceptions after actual visit to one of the royal floating "Casinos" on the picturesque Mandovi River in Panaji, Goa. So, let me start, take a ride to Goa with a bunch of friends, shell some 1500 bucks for an entry to Casino, you will be...
Anti-money-laundering (AML) compliance and the related costs of compliance with applicable regulations are sometimes cited as impediments to doing business. Though compliance may come at a cost, those associated with non-compliance may be greater. To better understand and manage AML-compliance costs, financial institutions should look to cost drivers such as...
A report prepared by Alix Partners Our 2017 global anti-money laundering and sanctions compliance survey explores how financial institutions are managing their compliance programs amid growing risk and heightened regulatory expectations. At a glance Although we may assume boards stay engaged, 20% of respondents do not provide training to their board or are...