money laundering

Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

Source: en.wikipedia.org

SLPs Not Complying With UK Rules, And Not Being Punished

SLPs Not Complying With UK Rules, And Not Being Punished
SLPs Not Complying With UK Rules, And Not Being Punished
February 14, 2019  |  Legal & Regulation

Nearly half of the U.K. corporate structures that are tied to money laundering don’t meet the ownership regulation, but haven’t faced any punishment since the...

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How Prepaid Cards Played A Role In El Chapo’s Global Drug Operation
How Prepaid Cards Played A Role In El Chapo’s Global Drug Operation
February 13, 2019  |  AML

The story goes something like this: During the reign of drug kingpin Pablo Escobar — estimated to have supplied up to 80 percent of the...

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Gig Economy Money Laundering Shows Corporates’ KYC, AML Struggles
Gig Economy Money Laundering Shows Corporates’ KYC, AML Struggles
February 13, 2019  |  B2B Payments

Payments messaging firm SWIFT announced on Tuesday (Feb. 12) that it will now allow corporates to join its KYC Registry in an effort to facilitate the...

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Red Envelopes, Fortnite And The Rise Of Micro Money Laundering
Red Envelopes, Fortnite And The Rise Of Micro Money Laundering
February 08, 2019  |  Fraud Prevention

One of the main differences between a successful criminal and a wanna-be is that the smart one knows how to hide (often in plain sight),...

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AML Scandals Hamper Estonia’s Digital Society Ambitions
AML Scandals Hamper Estonia’s Digital Society Ambitions
February 01, 2019  |  Cybersecurity

After being implicated in one of the largest money laundering scandals ever, Estonia is struggling to realize its dream of becoming a digital society, according...

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RBS Slapped With Lawsuit Over Frozen Accounts
RBS Slapped With Lawsuit Over Frozen Accounts
January 30, 2019  |  Legal & Regulation

The Royal Bank of Scotland (RBS) is being sued by an unnamed British payments company over allegations that RBS froze accounts on suspicion of illegal...

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Fed To Investigate Deutsche Bank’s Role In Danske Bank Scandal
Fed To Investigate Deutsche Bank’s Role In Danske Bank Scandal
January 23, 2019  |  Bank Regulation

Deutsche Bank’s handling of billions of dollars in suspicious transactions from Danske Bank’s Estonian branch is raising the ire of the Federal Reserve, which is...

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Fortnite’s In-Game Currency Used In Money Laundering Schemes
Fortnite’s In-Game Currency Used In Money Laundering Schemes
January 21, 2019  |  Cybersecurity

A new report has revealed that Fortnite’s in-game currency is being used to launder money from stolen credit cards. Get the Full Story Complete the...

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