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Case Studies

Get a fresh perspective on FCP issues with regular infographics illustrating the mechanics behind a range of criminal abuses of financial services and products.

Case Studies

EU investigation into “golden passports” reveals money laundering, tax evasion risks

The European Commission has published the findings of its investigation into EU members’ citizenship and residency schemes.

The probe revealed financial crime risks, such as money laundering and tax evasion, associated with the programmes.

Here’s an outline of some of the facts and issues pertaining to the schemes and the study, or a Q and A, sourced from the European Commission which can be downloaded here.

Analysis: FATF’s assessment of the UK’s anti-money laundering systems draws criticism

HM Treasury Minister John Glen, commenting on the recently published Financial Action Task Force’s (FATF) evaluation of the UK’s anti-money laundering (AML) and counter terrorist financing (CTF) systems, said: “The report recognises that the UK’s AML/CTF regime is the strongest of the over sixty countries assessed by FATF and its regional bodies.”

However, within a few days of the report’s publication, FATF’s conclusions have attracted criticism, such as that raised by the Bond Group, and raised some important questions, rather than answered them.

Are the points justified?

Combating money laundering in European banks: Highlights of a key whistleblower’s testimony

Anti-money laundering (AML) expert Denis O’Connor looks at some of the main points raised at an EU Parliament hearing by Danske Bank whistelblower Howard Wilkinson, and recommends AML and compliance professionals take note of the issues discussed. The €200 billion Danske Bank money laundering scandal is considered to be the biggest laundering scandal in banking history.