Hong Kong proposed new AML legislation
A new legislation containing new statutory requirements for key subjects involved in money laundering investigations has been proposed since 2009 and the consultation still running said James Wadham. Read more...
Fighting Money Laundering: Challenges in the Middle East
"In the Middle East, cultural customs, terrorism and smuggling make the detection of doubtful cash transfers particularly challenging", said Hany Abou-El Fotouh Director Head of Policy & Corporate Affairs / Board Secretary at CI Capital Holding. Read more....
Purchase of chips from ‘clean’ players at a higher price Chip purchase and cash out, claiming credits as jackpot wins, playing games with low return and high win are some of the techniques used by criminal organizations to launder their illegal proceeds in casinos. Other mechanisms also can be used by money launders such as structure little sums of money by using different instruments at the casino. Read more....
Beneficiary Change Some of the cases presented as typologies involve insurance companies and their most famous product life insurance policies. The crime is committed when criminals offer ill people more money in cash in comparison to the sum of money of their life insurance policy. It is all about trust and preparation, this last characteristic is given by the previous knowledge on the victim’s insurance policy details. Read more....
Mar 10, 2010
