AML – CAMS Blog
Your Gateway to Understanding AML Made Simple.
(Not representing or affiliated with ACAMS organisation)
Tag: #AMLCompliance
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When the world was shaken by the events of September 11, 2001, a quiet but intense investigation began behind the scenes. While most of us were coming to terms with the tragedy, U.S. officials were asking: how did terrorist groups manage to fund something so catastrophic? The answer was chilling. Some of that funding flowed…
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In a world where technology drives almost every financial transaction, there exists a parallel system that thrives on trust and personal networks. This system, known as Hawala, is an ancient method of transferring money that operates outside the formal banking system. Its simplicity and efficiency have made it indispensable for many, but its lack of…
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Ever wondered why casinos always seem to be under the regulatory microscope? It’s not just about keeping the games fair; a darker side exists. The constant flow of cash and chips makes them surprisingly attractive for money laundering. Yes, those glittering halls can sometimes be a haven for illicit funds. Casinos offer a perfect smoke…
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Ever wondered how the ultra-wealthy manage their fortunes? Welcome to the exclusive realm of private banking, where discretion is paramount and financial services are tailored to the elite. But beneath the polished veneer of luxury lies a complex web of risks and challenges that both bankers and regulators must navigate. The Allure of Private Banking…
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Introduction to the Case In 2017, authorities uncovered a major international sex trafficking and money laundering operation in Minneapolis. This criminal enterprise trafficked hundreds of Thai women across the United States, including cities like Los Angeles, Chicago, and Houston. The investigation led to the indictment of 21 individuals, exposing a network that exploited vulnerable women…
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Terrorism, a threat we often see in news headlines, relies on a less visible but equally dangerous element: MONEY. Terrorist financing refers to how extremist groups obtain and use funds to support their activities. This money can come from various sources, both legal and illegal. By learning about this complex issue, we can better understand…
