/financial crime

News and resources on financial crime, including fraud, scams, Anti Money Laundering and Know Your Customer.

Discussion
ESG’s “Waterloo” moment
Chris Kelsey

Chris Kelsey

  Interesting piece.  Love Abba ref!
UK condemned as a shameful safe haven for Moscow's gold
A Finextra Member

A Finextra member

  This regulation and enforcement should be self-funding, as the regulators and enforcers identify and sequester illicit or illegal funds they should be given those funds to invest in better systems and more staff.  this seems to work well in the USA with the DOJ motivated to intercept and secure laundered cash -  its time the UK Government broke its ties with Siberian Lords and their Knighted sons (amongst others) and replaced rhetoric with results.  I will be writing to my MP.  Thanks Finextra - good summary.
The Model Mandatory Disclosure Rules (‘AEOI PHASE 3’) Briefing Series: PART I
Ibrahim Shaikh

Ibrahim Shaikh

  Awesome blog.... We appreciate your sharing this informative article.Thanks for sharing. Iqra Technology is an IT Solutions and Services Company. We are a salesforce and Microsoft partner company. We aim to provide cost-effective IT services within the customer’s budget range.
Why we should shed the stigma of being scammed
Ketharaman Swaminathan

Ketharaman Swaminathan

  Per anecdata, I suspect that there's another reason why people who get scammed don't report the scams: They've read all the scam warnings from banks and fintechs, brushed them off with a "this can't happen to me" flippant remark, and, when it does, undergo a severe emotional tumult, which will only escalate if they tell others, so they keep it to themselves.   It's interesting that you've drawn an analogy with burglary. Let me copy-paste a passage from my blog post scheduled to be published tomorrow on a related topic: "In a normal burglary, there's usually a tampered lock, broken glass or some anomaly. The victim can use that as evidence to file a complaint with law enforcement. However, in the case of a cybertheft, there's no ostensible evidence of crime. It comes down to the Scammee's word. While the Scammee can show the debit entry of sending out the money in his bank statement, he cannot prove that the Alleged Scammer has received the money. This is because A2A MOPs do not provide a legally-valid receipt (for a P2P transaction)."