A Loophole for Money Launderers: Real Estate

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 >

Closing Gaps in Fifth Anti-Money Laundering Directive

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 >

New Money Laundering Regulations in the UK

Professionals across all industries and sectors must familiarize themselves with the Money Laundering Regulations 2017 (MLR2017) which has introduced a variety of new provisions to replace and expand the requirements of the existing Money Laundering Regulations 2007 (MLR2007).  This newest… Read more >

Pakistani Bank Fined $630 Million for AML Violations

In August, Habib Bank Ltd (HBL), was fined a record $630 million for a Pakistani financial institution by the New York State Department of Financial Services (DFS) for noncompliance with state and federal anti-money laundering (AML) laws at its U.S…. Read more >

Prevention of Terrorist Financing With New Legislation

In order to combat terrorist financing via nonprofit organizations, the Cayman government must use knowledge as their main weapon.  Unfortunately, information is what the government is lacking and this weakness is leaving them susceptible to terrorist financing and other illicit… Read more >

Changes Being Made to Enhance Safety in Cross-Border Wire Payments

Are Policy and Safety Enhancements Enough to Make Cross-Border Payments a Game Changer in Today’s Marketplace? Cross-border payment systems provide businesses with a way to internationally manage their money just as if they were local in each individual country.  This… Read more >