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RBI heat on bank honchos after expose of money laundering
Published on May 20, 2013
The Reserve Bank of India (RBI) has moved to hold senior banking officials directly accountable for violations of supervision lapses under their nose that lead to money laundering and other wrongdoings. In a move reminiscent of the corporate laws put in place after the Enron scandal in the US, the RBI is likely to review the “fit and proper” criteria and banks will now be mandated to formally decl...
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How to Deter Money Laundering: Stronger Punishments Needed
Recent penalties against financial institutions for violating money laundering regulations may not act as deterrents, but far stronger punishments, would be effective; you have to make the cost of punishment greater than the benefit of the crime says Kevin Sullivan.
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Mastering the fundamentals against money laundering
While the legislation around Anti-Money Laundering (AML) compliance has been in place for more than a decade, many businesses affected by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) are still struggling to understand what the legislation and their regulators expect of them.
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Conspiracy, mail fraud and wire fraud
U.S. v. James O’Rourke, John White, and Kerry Michael Deevy
U.S. v. Sean Rosales
On November 29, 2011, a federal grand jury in Miami, Florida, returned a 19-count indictment charging conspiracy, mail fraud and wire fraud against James O’Rourke, John White, and Kerry Michael Deevy. The grand jury also returned a separate 21-count indictment against Sean Rosales.
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Trafficking the Identities of Puerto Rican U.S. Citizens
On January 11, 2012, as the result of the ongoing, nationally-coordinated Operation Island Express investigation, fifty individuals were charged in an indictment unsealed in Puerto Rico with conspiracy to commit identification fraud in connection with their alleged roles in a scheme to illegally buy and sell the identities of Puerto Rican U.S. citizens and their identity documents including Social Security cards and Puerto Rico birth certificates.
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University blocks Google docs to fight phishing
A rise in the number of phishing emails sent to Oxford students’ accounts, causing the university to block Google Docs temporarily.
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Malware Prevention for Healthcare Organizations
The single biggest threat to healthcare institution security is the end-user desktop.
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IRS seeing spike in identity theft cases
Tax time is around the corner, and the Internal Revenue Service says it has seen a "huge spike" in cases of identity theft.
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Overseas hackers nab more than 1TB of data daily
A new report shows that the recent wave of cyberattacks on the U.S. are coming from a highly sophisticated group of hackers that are most likely state-sponsored.
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NATIONAL DRUG USE SURVEY MALDIVES - 2011 / 2012
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Methodology for assessing compliance with the FATF recommendations and the effectiveness of AML/CFT systems
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INDONESIA Situation Assessment on Amphetamine-Type Stimulants
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The Future of the Shadow Banking System
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Vulnerabilities detected in Southern Africa countries
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Over and Under Invoicing of Goods and Services
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