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Follow the money: an investigation into money laundering tactics
A new report, ‘Follow the Money’, describes the complex web of money laundering, money mules, front companies and cryptocurrencies that criminals use to siphon funds from the financial system after... more
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The hashtags that could land you in jail
Research from Santander and former fraudster Tony Sales has exposed the dangerous hashtags on social media being used by criminals to recruit innocent – and particularly young – people into... more
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Anti-money laundering – blind justice or justice that turns a blind eye?
International efforts to combat money laundering – which latterly have been closely connected with frustrating tax evasion and aggressive tax avoidance – and to staunch the supply of money to terrorist organisations have been coordinated by the Financial Action Taskforce, and have resulted in various series of FATF Recommendations and Special Recommendations. This body of [...]
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Danske Bank in trouble over weak anti money-laundering controls
In a week that saw the Australian banking industry under scrutiny, Danske Bank has also been extensively criticised and reprimanded by Danish regulators over weak or non-existent money-laundering controls that gave rise to suspected “criminal activities involving vast amounts of money”. The Danish Financial Supervisory Authority on Thursday gave the country’s largest bank eight reprimands and [...]
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Money laundering in the 21st century: Follow the money
Around $2 trillion is laundered every year and everyone is paying the price. Banks have huge regulatory overheads. Businesses and consumers encounter friction to open a bank account, transfer funds or instruct a lawyer. The best companies manage risk best. So, how do those in the payments industry use technology, process and people to manage [...]
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