Table of ContentsHow can we deposit large amounts of money?Response: KYC/CDD teams screen applicantsHow can we get past initial screening?Response: KYC/CDD teams dig deeperHow can we get names that won’t show up on watch lists?Response: KYC/CDD teams verify identitiesRecognizing the ongoing struggle One key to fighting money laundering is understanding its process and the vulnerabilities in each stage of it....Read More

Table of ContentsReasons to fight money laundering and terrorist fundingKYC/CDD and investigationKYC/CDD and monitoringConclusion Anti–Money Laundering (AML) and Counter Terrorist Funding (CTF) efforts involve the little-known world of Know Your Customer (KYC) and Customer Due Diligence (CDD) regulations. These involve an intensive review of account applications, resolute investigation to verify new customers’ information and ongoing monitoring of established customers’ transactions....Read More

“Financial Crimes” is a term used to describe a variety of criminal acts including money laundering; terrorism financing; bribery; corruption; sanctions violations; proliferation financing; cyber financial crime; various types of fraud (securities fraud, insider trading, market manipulation, bank fraud, insurance fraud, payments fraud, health care fraud, medical fraud, credit card fraud, cheque fraud, corporate fraud, and other types of frauds...Read More

Money laundering and terrorism funding both have devastating effects. While acts of terrorism are more noticed because of their highly public nature, Money laundering is no less of a threat. In fact, concentrated efforts to combat money laundering were pursued long before terrorist activities grew to the point where Counter Terrorism Funding (CTF) was added to formal Anti–Money Laundering (AML)...Read More