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World Money Laundering Report

Regulation
Policing
Impact on the conventional sector

"No head-scratching and audible sighs of relief as knickers become untwisted. "

Interacting with a blockchain

How Ethereum demonstrated the benefits of blockchain-based currency for financial crime reduction.

In this exclusive multi-part analysis, World Money Laundering Report looks at blockchains from a layman's perspective, demystifies the topic using plain language and often humour and explains some of the risks that it creates for regulators, investigators, providers of financial services and the public at large.

Note: there is nothing technical here. It's intended to be simple, bordering on the simplistic from a techy standpoint, for non technical people.

As PoTUS Trump continues to ramp up his rhetoric against North Korea and Iran, the FATF recently issued a statement relating to both countries. While there is accord about NoKo, the FATF and the USA do not speak as one with regard to Iran. Is this a problem?

The judgment in the AUSTRAC -v-Tabcorp civil case is a landmark: it's the first civil case that AUSTRAC has brought to a conclusion in court. But the judgment is only the latest step in a long running investigation and series of regulatory actions against the ASX-listed gambling giant.

A man who, through a corporate entity, operated off-street parking schemes on premises owned by a fund to raise money for former servicemen has been arrested after an investigation discovered that he, allegedly, failed to account to the fund for as much as USD11 million over a period of years.

The final (of three) part of World Money Laundering Report's analysis of the Manafort and Gates case and its implications for the financial services and other regulated industries.

Here, in this three part article, World Money Laundering Report examines the charges, the background and the impact on financial services and other regulated businesses.

Continuing our analysis of how Australia's Proceeds of Crime Act provides a mechanism for successful money laundering.

See Part I here

Late-stage money laundering is after the proceeds of criminal conduct have already been through a series of transactions to hide, move and even invest them. As the proceeds move further away from the original source, their origin is obscured but they are still not safe. Late-stage laundering usually involves using financial institutions or jurisdictions that are known to have good systems in place and therefore the next move is with the benefit of their reputation. Australia, on the other hand, provides - enshrined in its law - a safe haven that provides positive encouragement to launderers to place late-stage laundering there.

Part II here

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