A recent study of the Dark Web indicates 12% of all activity in the underground is financial crime related. A video by EMCDDA indicates how cryptocurrency is used to ‘cashout’
Of course Crypto criminals don’t have it all their own way. The average lifespan of a dark web market is now just 8 months with a range of reasons, some law enforcement related.
How to Investigate Money Laundering - A short Guide How to investigate Money Laundering There are many new entrants to the AML sector that have little to no investigative experience. That's natural in any sector. Below are some tips on...
Money Laundering Red Flags MONEY LAUNDERING AND TERRORIST FINANCING "RED FLAGS" The following are examples of potentially suspicious activities, or "red flags" for both money laundering and terrorist financing. Although these lists are not all-inclusive, they may help banks and...
Research into money laundering goes deeper than reading ACAMS or Linkedin. Here we have provided links to the 60 Best Money Laundering Research Papers, books and web articles. In the coming weeks we will be blogging about these articles and...
What are the best Money Laundering Schemes? Best money laundering schemes To keep this post quick and easy to read we've put all the schemes we can think of in a table and provided links to more content to find...
There are many routes and many options to clean dirty money, it's no wonder AML is such a difficult job. The sheer volume of SARS obfuscates criminals, it doesn't help law enforcement. The below helps to understand just a few...
CUM-EX DIVIDEND FRAUD EXPLAINED Our 101 CUM-EX dividend fraud explains how this fraud works and also details a range of businesses and individuals who are linked and those that are secondary linked to the businesses. It is clearly very important...
What is a Politically Exposed Person? What is a politically exposed person This post will give a definition for a PEP and answer what is a politically exposed person. It also provides details of red flags that indicate a PEP...
Preventing Money Laundering 101 Networks of people, businesses, accounts and transactions makes preventing money laundering very difficult. Despite all the work globally the AML industry still only recovers an estimated 1% of laundered cash. Linking cash to crime as it...
Anti Money Laundering Warning Signs In this post we will break down the Signs of Money Laundering and the importance of the first AML officer's actions in a chain that obfuscates the more layers the money goes through. AML Officer...
Red Flag Warnings for AML pt2 Please continue reading the remainder of our AML fed flags article. Go here for part one. Go here for part three Trade Finance red flagsPrivate ATMsInsurance red flagsShell CompanyEmbassy AccountsEmployee suspicionsOther customer suspicionsPossible Terrorist...
There are however some longer established markets. These tend to guard membership more securely making it more difficult for Law Enforcement to infiltrate them.
In an ironic twist it can be seen through the rules on some of the forums that hacking isn’t allowed amongst other criminal activity. Although the code of honour only goes so deep, with many markets, in the above diagram, seen to scam their users by closing down and running with the transactions.
For a deeper insight into the Dark web, download the EMCDDA report (link below).
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