The Fault In Our SARs: The importance of realignment towards actionable intelligence
The principle of a Suspicious Activity Report (SAR) is very simple - the transmission of information, typically from regulated firms, which alerts law enforcement that a certain client or activity is in some way suspicious and may indicate money
Sanctions: Understanding the Global Chessboard
Many compliance professionals are familiar with OFAC (Office of Foreign Assets Control) and UN (United Nations) related sanctions but what is less known is that some of the measures within them are not too dissimilar to foreign policy efforts
Correspondent Banking: The financial system’s gift and curse
Correspondent Banking has been defined by the FATF (Financial Action Task Force) as “…the provision of banking services by one bank (the “correspondent bank”) to another bank (the “respondent bank”)”. Larger international banks usually act as correspondents for smaller
High-Risk Third Countries: an AML challenge for the EU
The EU (European Union) has had its share of recent money laundering challenges and scandals, such as those related to Danske Bank, Swedbank, ABLV and Rabobank and while plans are under way to address shortcomings within the EU, it
Covid-19, illegal wildlife trafficking and money laundering
The illegal wildlife trade may have been perceived as a relatively low-risk avenue of illicit funds by criminal organisations, but never has the detrimental impact of the illegal wildlife trade been more dire than against the backdrop of the