AML during Covid-19: no room for complacency
Even common criminals and drug dealers are affected by Covid-19. As lockdowns and quarantines kept almost a third of the human population indoors, violent crime rates dropped drastically all over the world. Sadly, the same cannot be said about white
Decoding the links between modern slavery and money laundering
Viruses are deadly because they are not easy to kill, let alone eradicate from nature. Slavery is a bit like a virus that refuses to die down in human society. As of 2020, virtually all nations on earth have
How money laundering threatens the ‘least corrupt’ nations on earth
Come January each year, the issue of global corruption comes under the media spotlight. The reason - the annual release of the Corruption Perceptions Index (CPI) by the global watchdog Transparency International. Newspapers around the world churn out articles indicating
The role of data sharing in AML & CFT in the era of data leaks
Explosive data leaks and dumps have become the new norm in the world of international finance. After the global fallout of the Panama Papers and the Paradise Papers in recent years, we have witnessed yet another massive data dump
5AMLD goes live: What the EU’s Fifth Money Laundering Directive brings
Designed to add more teeth to the current EU laws combating the rampant menace of money laundering across the continent, the Fifth Money Laundering Directive (5AMLD) became EU law on 10th January 2020. It includes a host of significant
How online video games are becoming a safe haven for money launderers
Recently, a very odd news article from China received a lot of coverage in Western online platforms. It was about a lawsuit involving a gamer who had spent over $1.4 million on a single video game character. Video game microtransactions
Drawing parallels: Government Infrastructure & Enterprise Software Projects
Key insights & lessons for Managers from the other side of the great Public-Private Divide Many enterprises in the second decade of the 21st century have a pressing problem related to IT infrastructure - hopelessly outdated software systems and hardware.
How digital transformation failures can happen to any enterprise
For enterprises, digital transformation is the perfect example of a double-edged sword. On the one hand, it holds forth promises of increased efficiency, cost reduction, and often a decisive edge on the competition. But the dangers posed by large-scale
Can collaboration & technology help remedy the Dutch money laundering crisis?
The Netherlands is widely regarded as one of the most peaceful and law-abiding nations on earth. The Dutch are very rarely exposed to violent crimes of any sort. Even the modern specter of terrorism has a very low threat
A cautionary tale of banking in Tanzania and the dangers of inadequate KYC
It's never good news when a central bank is forced to issue a fine on a major bank in a country. But when the fine is on not one, but five major commercial banks, all for the