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

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

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

Money Laundering

Nepal: Government forms special cell to tackle financial crime

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

Crime

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

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

Data Protection

FCA Probing RBS On Money Laundering Suspicions, Bank Says

August 4 2017<p>Royal Bank of Scotland is under investigation by British authorities for alleged money laundering offenses, the lender revealed on …

Royal Bank of Scotland

It’s a very good time to be a money launderer, and you can thank cryptocurrencies

August 4 2017 Cryptocurrencies have exploded in popularity in recent years that has led to a red-hot fundraising trend where start-ups bring in …

Cryptocurrency

RCS & RDS accused of money laundering

August 1, 2017 Romanian and Hungarian cable operator RCS & RDS, and some key officials, have been accused of alleged money laundering offences. The …

Malaysia

3i Infotech Launches Anti-Money Laundering Solution AMLOCKLite – FS

August 2 2017 Riding on a financial turnaround and renewed strategic focus, 3i Infotech Limited has launched AMLOCKLite – FS for Non-Banking …

Banking

Sri Lanka: Trust accounts under scrutiny for money laundering

July 23, 2017<p>Sri Lanka’s banking regulator is flexing its muscles to combat money laundering risks and is considering going after ‘trust’ accounts …

Sri Lanka

2017 Global Anti-money Laundering Software Market By Top 5 Manufacturers in America, Europe, Asia-Pacific and Africa

July 25, 2017 The report about Global Anti-money Laundering Software Market 2017 constitutes of pervasive fundamental research along with a …

International Relations

Drugs, crime syndicates and money laundering – Inside the history of Australia’s illegal drug trade

July 24 2017 It is estimated the drug trade in this country is worth over ten billion dollars annually. Why is Australia such an appealing market for …

Money Laundering

Race fixing and money laundering: How the horse racing industry fights back against criminal cartels

July 24, 2017 Criminals belonging to a number of Dublin gangs are attempting to use the horse racing industry to move and launder money generated by …

Money Laundering

US: 68-year-old man sentenced for money laundering

JULY 18, 2017 A 68-year-old man was sentenced for taking part in a scheme that transferred over $6.1 million from a financial services company that …

Money Laundering

CDDS unveils its AML risk APIs: The first AML/TF integrated tool

<b>CDDS Luxembourg SA is pleased to present its AML risk APIs: the first integrated screening tool against sanctions lists, PEP and AML risk lists for</b> …

FinTech

Indonesia to Join FATF in War Against Money Laundering and Terrorism Funding

July 2 2017 Indonesia may soon join an intergovernmental body called the Financial Action Task Force that seeks to combat money laundering, terrorist …

Indonesia

How AI is leading the war on Money Laundering

July 6 2017 Artificial intelligence is set to lead the war on money laundering by scouring the unstructured unstructured web for information about …

Money Laundering

Japanese watchdog scrutinizes money-laundering defenses

Japan’s Financial Services Agency is surveying the measures banks take to prevent money laundering, aiming to better tackle a growing problem among …

Banking

Australia a ‘place of choice’ for money laundering due to lack of regulation: ANZ

July 13 2017 ANZ Bank says a lack of political will has seen successive Australian governments fail to extend money laundering laws to cover lawyers, …

Real Estate

Can AI spy financial crime without implicating innocents?

July 25 2017 I was talking to a banking compliance executive recently about how banks are looking to use artificial intelligence to spot clues to …

Artificial Intelligence

Offshore Financial Centers and The Five Largest Value Conduits in the World

Public outcry over tax havens has increased in recent years. Journalists have shed light on the users of these offshore financial centres (OFCs), as …

Corruption

How China’s biggest bank became ensnared in a sprawling money laundering probe

July 31, 2017<p>A few minutes before 8 p.m. on Aug. 8, 2012, two Chinese living in Spain – a banker and her client – held a blunt phone …

China

ABA Recommends Changes to BSA/AML Regulations

August 1, 2017 In a comment letter to the Treasury department yesterday, ABA provided extensive feedback on several Bank Secrecy Act and anti-money …

Regulation

FinCEN Action Demonstrates The Agency’s Ability To Use Anti-Money Laundering Laws Against Non-U.S. Entities

August 2 2017<p>On Wednesday, July 27, 2017, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a $110 million fine levied …

Bitcoin

Internet Money Laundering Will Change Banking Forever

Money Laundering

Nigeria: Money Laundering, 200 insurance brokers not registered with NFIU

July 24 2017 AT the backdrop of Nigeria’s suspension from the Egmont Group of Financial Intelligence Units, the National Insurance Commission, …

Money Laundering

Reserve Bank of India imposes monetary penalty on Union Bank of India

July 31, 2017 The Reserve Bank of India (RBI) has imposed, on July 26, 2017, a monetary penalty of ₹ 20 million on Union Bank of India for …

India