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Be aware! The criminals behind cyberthreat Spora ransomware.

Be aware! The criminals behind cyberthreat Spora ransomware.

Nowadays, ransomware has become the most dangerous type of criminal malware. Most of the new families are prepared by amateurs (script-kiddies) and they are distributed on a small scale. Inside…

Terrorism and its multiple methods for moving funds.

Terrorism and its multiple methods for moving funds.

How do terrorists move money?  This article examines six of the most widely used methods: cash couriers, informal transfer systems (e.g. hawala), money service businesses, formal banking, false trade invoicing,…

Fifteen Swiss banks in a”red zone” exposed to money laundering risks.

Fifteen Swiss banks in a”red zone” exposed to money laundering risks.

VIENNA • Roughly 15 Swiss banks are in a”red zone” of lenders particularly exposed to money laundering risks, the head of Swiss banking watchdog Finma said in a newpaper interview…

Amber Rudd has vowed to stem the flow of “dirty money” into the City of London.

Amber Rudd has vowed to stem the flow of “dirty money” into the City of London.

The UK home secretary Amber Rudd has vowed to stem the flow of “dirty money” into the City of London in an attempt to end its reputation as a safe…

‘EUROPE’S MOST WANTED FUGITIVES’

‘EUROPE’S MOST WANTED FUGITIVES’

European law enforcement authorities have joined forces to create a dedicated new website ( www.eumostwanted.eu ) where the public can help police trace Europe’s Most Wanted Fugitives. Launched by the…

Ways Islamic names can be encountered in AML/KYC contexts.

Ways Islamic names can be encountered in AML/KYC contexts.

The article is an overview of the ways Islamic names encountered in AML/KYC “Anti Money Laundering/Know your Customer” contexts can differ from familiar Anglo/European names. The articulist will emphasize those…

Swiss Laws tighten money laundering.

Swiss Laws tighten money laundering.

    In December 2014, the Swiss parliament—giving in to international pressure—passed new laws to tighten its anti-money-laundering regulations, most prominently the freezing of assets in Swiss bank accounts. The…

“Cash cow” : U.K.´s law firms under money laundering scrutiny.

“Cash cow” : U.K.´s law firms under money laundering scrutiny.

    The Financial Action Task Force (FATF), an inter-governmental body created to investigate financial crime, is expected to scrutinise the UK in 2018, with speculation the legal profession will…

Netherland warns ABN Amro of Putin corruption risks.

Netherland warns ABN Amro of Putin corruption risks.

The Dutch central bank has been highly critical of the way ABN Amro tackles the risk of corruption in Russia, the Financieele Dagblad reported at the weekend. In particular, links…

Commerzbank failed anti-money laundering compliance responsibilities, pays $1.45 billion penalty to U.S.

Commerzbank failed anti-money laundering compliance responsibilities, pays $1.45 billion penalty to U.S.

Benjamin M. Lawsky, Superintendent of Financial Services, announced today that Commerzbank will pay a $1.45 billion penalty, terminate individual employees who engaged in misconduct, and install an independent monitor for…

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