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AML Basics

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May 31 2018 The US Treasury Department has initiated a wide-ranging campaign against money laundering across the globe and is leaning on governments particularly in Cyprus, Beirut, Singapore and the Gulf states including Dubai in an attempt to stop the flow of billions of dollars that wash through the financial...
May 26 2018 Everyone has heard of money laundering. It features prominently in TV shows like “Breaking Bad” and “Narcos” and just about every Mafia movie since the 1980’s. Despite this, few people know how money laundering works. A perfect example comes from the cinematic classic “Office Space”, where after executing a...
May 14 2018 The laundering of illicit funds through real estate is an established money laundering method in Australia. Criminals may be drawn to money laundering through real estate due to the fact that it is relatively uncomplicated and requires little expertise. Furthermore real estate can be bought using cash, true...
May 21 2018 In British law, money laundering is defined as the process of concealing, disguising, converting, transferring or removing criminal property. It is an offence to launder your own ill-gotten gains, but you can also be prosecuted for knowingly helping manage another person’s dirty money. An offence only occurs if...
May 10, 2018 The bills that you carry in your pockets are numbered. Each time they accept electronic payments in more establishments, and it seems to be the consumer's preferred option. But what would a society be like without cash? We explain its advantages and disadvantages. In some places it is...
May 7 2028 The news, reported in the Washington Post, that Donald Trump used cash for many of his real estate transactions in the decade before he became president, has raised eyebrows. As David Fahrenthold, one of the reporters on the Post story, told Slate, “I don’t think that lenders have a lot...