Know-your-customer (KYC) policies for companies are the most important defense against unwitting abuse by money launderers
sometimes use preorder accounts for this scheme.
generate a process of "layering" in which the tainted currency is shuffled through a series of shell corporations, wire transfers, bank accounts, and offshore jurisdictions with the intent of obfuscating the original source of funds.
To help pull the sector's head out of the sand, FATF lists seven key methods used by money launderers
to abuse the insurance industry:
But we are determined to ensure that drugs traffickers and money launderers
do not profit from their criminal activities.
It's just that 50 years ago we were worried about Nazis and Commies, and now the worry is that we want the Swiss to help root out drug dealers and money launderers
High risk/denied party searches, including regular scrubs of the Office of Foreign Assets Control (OFAC) database, screens for politically exposed persons, terrorists, money launderers
(or their "circle of trust") and global black lists to meet regulatory requirements.
SUSPECTED fuel launderers
leaked toxic red diesel in to a lake, it was revealed last night.
WHEN a local pizza parlour goes bust, or the site of a planned hotel complex is suddenly left abandoned or interest rates suddenly shoot up for no apparent reason, we don't normally blame money launderers
Another new agency whose formal creation was announced Wednesday, the Organized Crime Unit, is to bring together trusted investigators to combat not only drug smugglers but also money launderers
and arms dealers.
Retail dry cleaning stores account for 40 percent of industry revenue, commercial launderers
for 30 percent, and coin-operated laundromats for 15 percent.
MULTI-MILLION pound fuel launderers
are escaping justice while minor fine defaulters are languishing in prison, the Secretary of State will warn today.