AMLabc

By Abhishek Dwivedi | Latest news/reports/case studies from money laundering/terrorist financing related crimes

Was India’s demonetization a faliure?

Was India's demonetization initiative really a failure? In this article I would like to walk through the benefits of this exercise, even if majority …

West Bengal

How shell companies are used in black money creation, laundering

August 17 2017 There used to be an old saying among businesses in Kolkata: “dhan maat dikhao”, which means your wealth shouldn’t show. It dates back …

Black Money

Australia proposes stronger money laundering rules, includes bitcoin

AUGUST 17, 2017 Australia announced a bill on Thursday to strengthen its money laundering laws, including bringing bitcoin providers under the remit …

Money Laundering

New Zealand: Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017

August 17 2017 The Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017 (Amendment Act) received Royal assent on 10 August …

Money Laundering

The CBA money laundering case has links to potential terrorism financing

August 17, 2017 The money laundering case against the Commonwealth Bank includes potential financing of terrorism, a federal parliamentary committee …

Banking

Insider trading schemes using encrypted apps alarm FBI

August 20 2017 The Federal Bureau of Investigation is growing concerned that Wall Street traders are turning to encrypted apps to hide illicit …

Encryption

SAUDI ARABIA: 215 convicted of money laundering in one year

August 22 2017 Between 2015-2016, 66 Saudis and 149 residents were convicted of money laundering.Money laundering practices differ; therefore, …

Corruption

China, Inc. Is the World’s Biggest Money-Laundering Threat

August 21, 2017 During the Cold War, Chinese communists taunted the U.S.A. with cries of imperialism. Our large multinational corporations were …

China

Why background checks on Chinese investors are crucial

August 21, 2017 Chinese investors are increasingly engaging foreign companies to buy assets abroad, particularly real estate. Australia, for example, …

China

Money laundering probe exposes Australian banks’ compliance frailties

AUGUST 21, 2017 A money laundering probe at Commonwealth Bank of Australia (CBA.AX) is the latest in a slew of scandals denting the reputation of …

Banking

India: BSE seeks Aadhaar details from trading members to prevent money laundering

August 21, 2017 BSE has asked trading and clearing members to report preparedness for furnishing Aadhaar details of their clients by the year-end in …

India

FinCEN Targets Shell Companies Purchasing Luxury Properties in Seven Major Metropolitan Areas

August 22, 2017 Financial Crimes Enforcement Network (FinCEN) today announced the issuance of revised Geographic Targeting Orders (GTOs) that require …

Real Estate

China Cracks Down On Money Laundering

AUGUST 22, 2017 China is cracking down on money laundering, as it aims to ensure compliance with international standards. Recent measures greatly …

China

Spain: Data on the fight against money laundering

AUGUST 21 2017 The fight against money laundering has become a priority not only at the national level but also at the international level. This …

Money Laundering

Seychelles: 5.6 million euros of misappropriated public funds

August 22 2017 Seychelles MPs released a report by the Public Accounts Committee of the National Assembly on irregular payments involving two public …

Seychelles

This Is The Unusual Money Laundering Method Of ‘Cuckoo Smurfing’

August 3 2017 Commonwealth Bank Australia was accused of 53,700 breaches of money laundering laws by Australia’s financial intelligence and …

Money Laundering

Nepal: Government forms special cell to tackle financial crime

August 6, 2017 The government has formed a special cell to monitor the progress made by various bodies in combating financial crime, such as money …

Nepal

Switzerland cite India’s strong data security laws for exchange of banking info

August 6, 2017 Switzerland found India’s data security and confidentiality laws “adequate” for entering into an automatic exchange of information …

Internal Revenue Service