The Council of the European Union’s AMLD, a directive that sets out AML/CFT requirements for all EU member states, has been amended several times to reflect the changing risks of money laundering and terrorist financing. The Basel Committee on Banking Supervision’s CDD for Banks provides deta...
A 2021 task force report on the National Risk Assessment on Money Laundering and Terrorism Financing said this geo-positioning, trade inter-connectedness and high fintech use has increased the country’s vulnerability to money laundering and terrorism financing....
On occasion, the DOJ has prosecuted bribe-taking foreign officials for money laundering. And more recently, Members of the U.S. Congress have introduced a new bill, the Foreign Extortion Prevention Act (FEPA), which would make it a crime under U.S. law for a foreign public official to ...
Financial institutions are continually improving their fraud detection systems to protect against fraudulent activities such as money laundering and cyberattacks. Quantum computing can enhance these systems by analyzing vast amounts of data in real-time and detecting patterns that may indicate fraudulent ...
and money laundering by United States prosecutors, starting from 2015, led to multiple convictions, and revealed the widespreadbriberyinvolved in the awarding of 2010 World Cup hosting rights to South Africa. This scandal led to Blatter’sresignationin June 2015. (Blatter was later fined millions ...
Posted on October 26, 2023 by Adonis M. Brozoza 2 Brazil’s so-called Lava Jato (Car Wash) Operation, launched in 2014, exposed one of the largest corruption schemes ever. The investigation resulted in over 361 convictions (for corruption, money-laundering, procurement fraud, and other cr...
Financial institutions are continually improving their fraud detection systems to protect against fraudulent activities such as money laundering and cyberattacks. Quantum computing can enhance these systems by analyzing vast amounts of data in real-time and detecting patterns that may indicate fraudulent ...