In recent years, numerous Iranians have bought passports from the Comoros Islands, a small nation between Mozambique and Madagascar. U.S. and Comoros officials worry the documents may have been used to skirt sanctions. In January, the Comoros Islands quietly cancelled a batch of its passports that foreigners had bought… Read More
The subject of revealing the details of the beneficial or true owners of firms is becoming increasingly important in the fight against financial crime and the criminal aspects of corporate secrecy. In the United States, hopes have been high for the new Counter Terrorism and Illicit Finance Act currently before… Read More
With this being the second anniversary of the publication of the Panama Papers (the Papers), now is an appropriate juncture to consider how three major jurisdictions and the EU reacted to the scandal. Of interest is the approach and achievements – if any – of some of Europe’s top… Read More
Malaysian police on Wednesday said they seized cash, jewellery, handbags and watches worth up to 1.1 billion ringgit (206 million pounds) from six premises linked to former Prime Minister Najib Razak in raids carried out in May. Amar Singh, the head of the police commercial crime division, said in a… Read More
Financial crime staff should be alert to action taken by regulators in other parts of the financial services industry. The Financial Conduct Authority’s (FCA) Final Notice against Interactive Brokers UK (IBUK), which attracted a fine of £1,049,000, is a case in point. The issue is also of importance because… Read More
Susan has been making her living from crime for over twenty years. She provides anti-money laundering training and advice to the regulated community in the UK, Guernsey, Jersey, the Isle of Man and Gibraltar, and writes and talks on the subject at every opportunity. As her hobby she writes… Read More
The tenants in buildings 6-9 of the prestigious Europort complex in Gibraltar might be surprised to learn that, until recently, their offices were owned indirectly by a close relative of Syrian dictator Bashir al Assad. They might be even more surprised to learn that ownership is soon expected to pass… Read More
With the rise and rise of e-commerce comes the rise and rise of the e-criminal. Cybercrime is now the world’s fastest growing crime. It has leapt to number two of the top ten business risks worldwide, from not even appearing in that list five years ago. For certain countries, cyberattack… Read More
AP — All North Korean leader Kim Jong Un really needed from his unprecedented summit with U.S. President Donald Trump on Tuesday was to keep his nuclear arsenal intact for the time being and get a decent handshake photo to show he has truly arrived on the… Read More
Sanctions, whether targeted or comprehensive, are designed to restrict and influence governments from supporting bad actors. Yet with every expansion to these programs, sanctioned entities appear bolder in their efforts and creativity to evade. In 2017, OFAC recorded over $119 million in civil penalties and settlements aggregated from sixteen different… Read More
Must Read

The perfect AML programme: A ten point guide

Does the ‘perfect’ path to anti-money laundering (AML) exist? The quest for the perfect plan can be traced back to criminals causing immeasurable damage for many economies through money laundering. In response, governments are continuously trying to fight back, issuing a raft of rules and penalties for financial institution (FIs)… Read More

How Rabobank’s compliance unit ended up in hot soup again

Anti-money laundering expert and former undercover agent Robert Mazur has picked out some interesting aspects of the worrisome role compliance officers played in the Rabobank money laundering scandal in the US, which resulted in the bank being fined hundreds of millions of dollars and its top… Read More