Placement is the first stage of the three stages of money laundering. At this stage, criminals attempt to enter the ‘dirty’ money into the financial system. This process can be dangerous because large ...

Two summers ago, Alida, a retiree from Western Maryland, was buying groceries when her card was declined. On the phone, a bank official explained that $10,000 had suspiciously been deposited into her ...

The Cyprus Securities and Exchange Commission (CySEC) has warned regulated financial firms to strengthen their anti-money laundering controls following the end of the European Union’s transition ...

The global illicit drugs trade is estimated to be worth at least half a trillion US dollars each year. Drugs such as cocaine, methamphetamine and heroin generate large revenues all along their supply ...

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. In banking, AML (anti-money laundering) describes legally ...

The EU’s rules on anti money laundering and countering terrorist financing protect its financial system and contribute to security and growth. Money laundering and the financing of terrorism are major ...

The chair of RANS denies the money laundering allegations, stating that the company followed strict regulations during the ...

Kenya's gold industry is glittering on the surface but murky underneath. Behind the small pits of artisanal miners and the promise of mineral wealth lies a sector riddled with scams, smuggling, and ...

Oman Customs has introduced detailed guidelines for travelers carrying cash or bearer-negotiable instruments across its borders, strengthening the country’s commitment to combat money laundering and ...