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 …

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 …

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 …

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 …

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 …

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 …

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, …

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 …

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, …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

FCA Probing RBS On Money Laundering Suspicions, Bank Says

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

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 …

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 …

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 …

Sri Lanka: Trust accounts under scrutiny for money laundering

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

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 …

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 …

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 …

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 …

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

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 …

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 …