Recently, Brazil’s state energy company, Petrobras, was investigated by the Department of Justice (DOJ) and the Securities Exchange Commision (SEC) for FCPA violations related to political bribes in Brazil. According to the SEC’s Steven Peikin, Petrobras fraudulently facilitated money through… Read more >
Real estate is often used to aid money launderers in the Integration stage of a money laundering scheme. Criminals are able to invest their illicit gains into property, which provides stability in prices that usually appreciate over time and functionality… Read more >
A year after Deutsche Bank, Germany’s biggest lender, was fined $700 million for money laundering, recent confidential reviews that the bank conducted internally on June 5th and July 9th revealed deficiencies in its initial know-your-customer (KYC) screening procedures and its… Read more >
Understanding Blockchain technology and the encrypted information within it could potentially help regulators find the powerhouses behind money laundering, trafficking, and terrorism. Illicit activities can be pursued through cryptocurrency transactions involving Bitcoin, Ether, and other digital currencies, and blockchain technology… Read more >
With the implementation of the European Union’s (EU) Fourth Anti-Money Laundering Directive (AMLD4), which included an emphasis on enhanced customer due diligence (CDD), an inclusion of the gambling sector, and enhanced risk-based approach technology, all member states were required to… Read more >
New Zealand businesses are expected to spend $1 billion over the next 10 years in order to comply with New Zealand’s new Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) Act. The Police Financial Intelligence Unit has estimated that… Read more >
Lindsay Columbo: How did due diligence become so complicated? By Lindsay Columbo | Thursday, July 19, 2018 at 7:28AM
The European Union’s (EU) Fifth Anti-Money Laundering (AMLD5) became binding recently on Monday, July 9 and even after two years of reforming the anti-money laundering (AML) provisions and regulations, the new directive still faces weaknesses and limitations in preventing illicit… Read more >
Technology has advanced in recent years allowing for due diligence systems to become more precise in detecting terrorism financing and money laundering with the help of data analysis. The use of cognitive search and analytics technologies enables financial institutions and… Read more >
On June 19, 2018, the Official Journal of the European Union (EU) published the Fifth Anti-Money Laundering Directive (5MLD) that includes amendments to resolve issues within the existing Fourth Anti-Money Laundering Directive (4MLD), including terrorist financing, tax leaks and the… Read more >