GONGO

GONGO – Government Owned NGOs. Money laundering is shifting from little nits deposited into accounts to larger and larger sums moving under the colors of governments. The biggest offenders have been Government … Read More

Over Reporting

Over Reporting A new hot topic is AML and SAR over reporting. Bankers and financial managers are both so spooked about not filing SAR’s and have such little knowledge of their clients that as soon as something … Read More

Exempt Entities

Exempt Entities There are a number of exempt entities from the BSA and AML requirements. Chief amongst these are government and quasi-government accounts. This is a surprise to many, but not to the criminals.  … Read More

Iraqi Dinar

Iraqi Dinar I have watched this rube of an investment idea for years. The heart of the rube assumptions is that the Iraqi dinar will be revalued upward. At 1,168 to the US dollar – it more or less makes sense to … Read More

Memberships

Memberships A new form of money laundering is upon us.  A small drug operation was busted where all of the payments for the drugs were via credit card and PayPal. The operation was small scale - but very slick. … Read More

Virtual Currency

Virtual Currency In the Wake of Mt. Gox, and Liberty Reserve ~ Where do we Go From Here? There has been plenty of excitement over the past several months in the land of virtual currencies as viable alternatives to … Read More

NACHA Banker

“Its beginning to look a lot like… fraud! During the end of the year with Holiday celebrations, year-end activities and planning for the year ahead, it is also a good time to remind you that the fraudsters are … Read More

The Bribe

Xerxes Bribes Ephialtes with women and gold to betray the Spartans to the Persians. Olympics - The first recorded publicly disgraced cheat was Eupholus of Thessaly who, in 388 B.C., bribed three boxers to lose … Read More

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