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  • Why Criminals Rely on Cash and What It Means for AML Compliance

    Why Criminals Rely on Cash and What It Means for AML Compliance

    Criminals in many countries still rely heavily on cash. Whether someone is selling illegal drugs on the street, stealing valuables, running an online investment fraud scheme or evading taxes, cash offers anonymity. Unlike electronic transfers or checks, cash transactions leave almost no direct trail linking who made the operation with it. This anonymity lets criminals…

  • Structuring in Money Laundering Explained: Techniques, Red Flags and Controls

    Structuring in Money Laundering Explained: Techniques, Red Flags and Controls

    Structuring remains one of the most frequently used money‐laundering techniques worldwide. By understanding how criminals split large amounts into smaller, less‐suspicious transactions, financial institutions can better protect the integrity of the banking system. Structuring is the deliberate act of breaking a large transaction into multiple smaller ones to evade triggering mandatory reporting or recordkeeping requirements.…

  • AML Risks in Casinos and Betting Sites

    AML Risks in Casinos and Betting Sites

    Casinos handle huge amounts of cash flow and run special high-roller programs with chips and loyalty points – all of which can be used to wash dirty money. Unfortunately, many casinos still treat compliance as a low priority: staff often don’t perform strong KYC or Source of Funds/Source of Wealth checks. Their monitoring tools can’t…

  • SOP Guide: How to Write a Good Compliance Standard Operating Procedure

    SOP Guide: How to Write a Good Compliance Standard Operating Procedure

    Every strong Compliance program relies on clear, effective procedures. While policies set out general principles and guidelines, it’s the Standard Operating Procedures (so called SOPs) that provide step-by-step instructions on how tasks should be performed. A clear SOP cuts down the confusion, keeps everyone on the same page, and helps avoid issues. This article explains…

  • KYC Challenges in Remote Banking

    KYC Challenges in Remote Banking

    Remote banking has revolutionized the financial services industry, offering convenience and access to customers worldwide. However, with the rise of digital banking, financial institutions worldwide face significant challenges in implementing effective Know Your Customer processes, so called KYC processes. Let’s explores the unique obstacles remote banking institutions encounter with KYC. The Rise of Remote Banking…