IFC Review - The 5th EU AML Directive An article in the IFC Review 2020 on the impact of the 5th EU AML Directive https://www.international-due-diligence.org/ifc-review-5th-eu-aml-directive/ Access to the full … Read More
Articles tagged "Anti Money Laundering"
New York City Courses, November 4th – 8th
New York City will combine 3 of the 4 classes currently taught by the IDDO, Due Diligence Certification November 4-5, Anti-Money Laundering Bootcamp, November 6, and Advanced Anti-Money Laundering, November … Read More
May 6-7 Advanced Anti-Money Laundering, New York City, NY
May 6-7 Advanced Anti-Money Laundering, New York City, NY Hosted by … Read More
March 28-29 Advanced Anti-Money Laundering, Nassau Bahamas
March 28-29 Advanced Anti-Money Laundering, Nassau Bahamas Hosted by … Read More
UK Beneficial Ownership
UK Beneficial Ownership We have been sharing with our readers for 5 years that a time will come when beneficial ownership – back to human beings, will be required. The UK has taken the first step in that direct … Read More
178 Billion in Fines
178 Billion in Fines 2014 has set a record for fines. According to an article in the Bank Rate 2014 has been the most expensive year on records for fines levied against banks and financial instructions around the … 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
Issues For Custodians
Issues For Custodians Proper funds, trustees, and escrow companies all use the services of a custodian. A custodian is an independent entity that holds on to an asset, or the title to an asset, on behalf of the … 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
Russian Sanctions, A Panel Discussion
Russian Sanctions, A Panel Discussion Link to posted discussion http://www.blogtalkradio.com/bekkercompliancechat/2014/07/30/useu-sanctions-v-russia-global-impact-on-the-financial-services-industry This is a link … 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
MTN Trading Programs
MTN Trading Programs There have been frauds since they first surfaced. But they, like pesky Nigerian inheritance scams and lotto winnings, just do not seem to go away. An example from Treasury.Gov as an opening … Read More
Poaching, the Animal Trade and Money Laundering
Poaching, the Animal Trade and Money Laundering The video is an effort to share with our readers a bit more about the illegal trade in poached animals in East Africa and how the money from the poaching is … Read More
NGO’s and Charities
NGO’s and Charities NGO’s and Charities have slowly evolved, under the radar, to become significant channels for laundering money. Charities alone in the US received 320 billion dollars. About 2% to 3% of US … Read More
AML and OFAC Applies to State Governments
AML and OFAC Applies to State Governments I had a short conversation, off the record, with several investigators that work for state unemployment agencies. The common complaint was the inertia with regards to … Read More
Simple Lesson on Bribery
Simple Lesson on Bribery So, we campaign loudly against bribery. Yet some say – ah yes, but when does a gift between friends become a bride? The answer is when the bribe motivates the choice maker to subvert … Read More
Continuous Risk Management for Financial Institutions
Continuous Risk Management for Financial Institutions CRM (Continuous Risk Management) is a discipline that runs through a step-by-step cycle of ‘Identify, Analyze, Plan, Track, Control’ – back to Identify … Read More
Market Tells
Market Tells A “tell” is a sign or a signal, intentional or not of an outcome. In gambling players watch each other for tells; signs of the strength or weakness of a hand. For example, my old roommate was … Read More
Stock and Bond Certificates
Stock and Bond Certificates The law has acknowledged bits of tablecloth and the back of napkins as both suitable for contracts as well as proof of ownership in an enterprise. However, these forms of construction … Read More
Cash and Revolutions
Cash and Revolutions There is a saying on the poster in our office “Come the revolution things will be different, no better just different.” No doubt one of the more optimistic sayings from Murphy and his … 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
Iranian Sanctions Cause Investment Growth in Georgia
Iranian Sanctions Cause Investment Growth in Georgia A Potential Red-Faced Moment for US and EU Authorities Shaun M. Hassett, CAMS, CDDP A recent Wall Street Journal Article’s opening line reads: “Economic … Read More
Some Signs of Money Laundering
Some Signs of Money Laundering Laundering money is moving money in such a way that the sole economic purpose behind the movement is deny to a viewer or participant the ability of ever knowing the real source of the … Read More
Too Big To Jail? Well, Maybe Not
Too Big To Jail? Well, Maybe Not According to a Reuter’s news article, dated March 22, 2013, The U.S. Treasury is changing its previous posture and plans to hold bankers personally responsible (including … Read More