Why property is front and centre of the AML battle
The real estate sector is under pressure to improve its AML practices, as criminals step up their efforts to launder their dirty money through property. The UK’s property market has become a prime target for international money laundering, with high-end
Cybercrime: Virtual Threats, Real-World Impacts
In the old days, to rob a bank, the robbers would have had to go into the bank to hold it up and make off with the bags full of cash. Today, they can rob a bank from the
COVID-19: A Crisis or a Catalyst for Corruption?
Back in 2008, during an interview with Wall Street Journal, then-President-Elect Obama’s Chief of staff, Rahm Emanuel said ‘You never want a serious crisis to go to waste.’ While he meant that the silver lining to catastrophes can be
The future of AML compliance for US investment advisors
Highly regulated financial firms operating in the United States are witnessing significant anti-money laundering (AML) legislative and regulatory changes with the passing of the National Defense Authorization Act of 2021 (NDAA) and rule changes proposed by the Financial Crimes
The FinCrime Files – Q&A with Colette Best, Solicitors Regulation Authority
In this edition of our FinCrime Files interview series, we caught up with Colette Best, Director of anti-money laundering at the Solicitors Regulation Authority. Q. Hi Colette, could you tell us a little about yourself and your current role? I have
OpenLux: exposing money laundering in Luxembourg
Revelations from the OpenLux investigation underline the need for financial institutions to invest in AML tools and technologies The wheels of international financial regulation often turn slowly, but five years after the Panama Papers scandal exposed the role played by
Are financial institutions facing the ever-growing threat of environmental crime?
The large house with high walls topped by razor wire in an upmarket suburb of Dar es Salaam, Tanzania’s commercial capital, had been under surveillance by the police for several weeks due to suspicious vehicles coming and going at
The FinCrime Files – Q&A with Chor Teh, Investec
In this edition of our FinCrime Files interview series, we caught up with Chor Teh, Head of Client Lifecycle Management at Investec. Q. Hi Chor, could you tell us a little about yourself and your current role at Investec? I am
Smoke signals: money laundering and the illegal tobacco trade
One of the key crimes that has alerted financial institutions and regulators is trade-based money laundering (TBML). While we have looked into the issue before here at Arachnys, the complexity that TBML comprises (its wholly global remit and the
The FinCrime Files – Q&A with Nitzan Solomon, Nomura
In this edition of our FinCrime Files interview series, we caught up with Nitzan Solomon, VP, EMEA Head of Surveillance and Financial Crime Technology at Nomura. Q. Hi Nitzan, could you tell us a little about yourself and your current
Enforcers take the fight to money launderers in UK luxury property: but is it enough?
The fight against money laundering through luxury UK property is intensifying. But real estate players have much more to do in bolstering compliance processes. Law enforcers won a major battle in October, when suspected money launderer Manni Hussain surrendered properties
Antiquities and AML – the BSA finally comes calling in 2021
For decades, dealers and auction houses involved in the sale of art and antiquities have evaded the scrutiny of US regulators. The stringent provisions of the Bank Secrecy Act (BSA) did not cover the lucrative art market, worth well