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India’s Money Laundering Agency Finds Proceeds in JPMorgan Case

A federal investigation agency in India said it had preliminary evidence that units of JPMorgan Chase & Co. were involved in crimes generating 1.87 billion rupees ($24 million) in proceeds, raising the stakes in a months-long money laundering probe. The anti-money laundering agency Enforcement Directorate informed the top court… Read More

Database Exposes Offshore Holdings of Prominent Germans

The group’s name alone reflects its combative mission: The collective of transparency activists calls itself Distributed Denial of Secrets (DDoS), a name that recalls denial of service, a form of online attack that knocks out servers and websites by targeting them with huge numbers of superfluous requests. Committed as they… Read More

Switzerland cooperates with Vatican fraud investigation

The justice ministry has sent initial documents to the Vatican as part of an investigation into suspected bribery and money laundering related to a London property deal in which some Swiss banks are said to be involved. This is according to information obtained by the German-language paper NZZ am… Read More
19th May 2020
The suspicious activity reporting regime is in need of a “wholesale revolution” that would allow financial institutions to deliver more actionable intelligence to investigators, according to Tom Keatinge, director of the Centre for Financial Crime and Security Studies at RUSI. In a recent episode of KYC360’s AML Talk Show,… Read More
16th April 2020
In mid-March, the US Financial Intelligence Unit (FinCEN) posted a short news release encouraging financial institutions to remain alert to COVID-19-related illicit financial activity, listing a series of potential scams and the steps FinCEN expects banks to take in response. In the UK, law enforcement agencies have likewise… Read More
10th April 2020
Experts looking at how North Korea continues to import and export goods despite numerous sanctions agree the country’s $1.5 billion cryptocurrency war chest is used to fund an illicit web of trade networks and supply chains. Blockchain analytics company Chainalysis said it is “comfortable” with the $1.5 billion figure stated… Read More
28th February 2020
Serious and organised crime (SOC) is the most significant national security threat faced by the UK; it persistently erodes our economy and communities and affects more UK citizens, more often, than any other threat, impacting on public services, businesses, institutions, national reputation and infrastructure. A PERSISTENT THREAT The… Read More
7th February 2020
The Financial Action Task Force (FATF) is notionally a technical body that sets standards and promotes effective implementation of legal, regulatory and operational measures for combating financial crime threats to the integrity of the international financial system. As well as setting standards it also conducts periodic reviews of countries’… Read More
7th February 2020
Commissioned and undertaken jointly by the think tank Royal United Services Institute (RUSI) and ACAMS in partnership with YouGov, the survey, based on 366 unique responses from across the global financial industry, shows that international banks are leading efforts in counter-proliferation finance, with local and national banks at greater risk… Read More
3rd January 2020
Recent research and corporate disclosures have highlighted the fact that video games aren’t only for entertainment. They can also serve as a medium for money laundering, the Financial Times reported Thursday. A report published in October by RUSI noted the video-game marketplaces involve the exchange of virtual artefacts… Read More
27th November 2019
It is said that if you place a frog in water and slowly raise the temperature to boiling, it will fail to act until it is too late. I don’t know if this is true; I’d certainly never wish to test the theory. But the metaphor is apt for what… Read More
7th November 2019
In this exclusive interview KYC360 talks to Tom Keatinge, Director of the Centre for Financial Crime and Security Studies at the Royal United Services Institute (RUSI) in London, where his research focuses on matters at the intersection of finance and security, including the use of finance as a tool of… Read More
6th November 2019
Free trade zones (FTZs) present both opportunities and challenges for globalised trade. At their best, they facilitate frictionless trade and manufacturing, creating jobs and economic growth for local communities. At their worst, they enable illicit trade and the laundering of criminal proceeds. In this article, the authors examine how the… Read More