In this post we will examine real cases where social media has been exploited by criminals. A couple of types of exploitation are social engineering and criminal intelligence gathering. We will explore both and also establish links to money laundering and white collar crime. It is estimated criminals earn over $3 billion annually from exploiting… Read More
We’ve noticed that despite our target audience being the financial compliance industry, when we post with a heading to attract criminal attention, it gets read more! So welcome to this post. In it we will discuss the steps that criminals take to use technology to hide their assets. Firstly, a basic understanding of Placement, Layering… Read More
In 2008 (yes only 12 years ago), Satoshi Nakomoto proposed a new electronic form of value that would allow two parties to exchange that value without the need for a financial institute to act as an intermediary. Bitcoin was born. There are of course lots of speculators that link Bitcoin to corruption, criminality and money… Read More
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 they mean to the industry. Stay tuned and register with the site (bottom of… Read More
A recent study has found that firms that adopt a culture of conservative accounting are less likely to be involved in money laundering scandals. The authors used three measurements of the concept of conservative accounting, and in all three the results were the same. The degree of conservativism is significantly and negatively associated to the… Read More
Avoiding OFAC/UN sanctions is like a game of cat and mouse played out on the world stage. The players are office-bound analysts checking transactions for sanctioned individuals/nations, shipping lines trying to disguise their routes, customs and excise on both sides of the trade and the regulators honing in on troubled states. Currently we have Iran… Read More
What is Money Laundering? This post will help you to understand the basics of money laundering and at the foot of the post are some world renowned research papers, references and links to other content. Money Laundering is essentially cleaning ‘dirty’ money to make it look clean to authorities. There are many, many methods to… Read More
In all industries operating globally, there are head and tail winds that impact the strategic moves of the incumbent businesses. The compliance industry is no different. The financial industry as a whole has a few problems to solve. This first chart details the rise in AI/Machine Learning provision across the FI. 47% of FI’s are… Read More
What Financial Crime Solutions are Available? The world of finance moves so fast with speed of light transactions how on earth can anyone counter financial crime? You’ve found the right place as we point to some detail to help you to fight financial crime and find the solution that meets your needs. Preventing Financial Crime… Read More
AML Resources U to Z A to E – F to J – K to O – P to T – U to Z Bring yourself up to date with this useful list of AML resources and help documents. We design training packages for your staff, the below is just a small section of our… Read More
