The document provides a highlights report from the AMLMaps website for January 2017. It summarizes key anti-money laundering cases from December 2016, including the highest penalties issued by US and UK regulators, the largest individual penalty of $235 million imposed on Intesa Sanpaolo bank, and the longest prison sentence of 12 years given to a former South African politician. It also lists the most active agencies in AML enforcement and provides statistics on cases reported and penalties that month.
Financial institutions spends millions of dollars every year bolstering their defences against terrorist financing. Terrorists operate by camouflaging themselves amongst civilian populations. If they can evade the authorities and intelligence communities, how can financial institutions mount a credible defence against the threat they pose to society?
For more information on ManchesterCF and other issues of Analytics please visit http://bit.ly/1p6UZyS
Financial Crime In The Real Estate Sector - Countering Illicit Money Flows.Aperio Intelligence
We are a corporate intelligence and financial crime advisory firm based in the City of London. We specialise in: conducting enhanced due diligence on high risk customers and third parties; integrity due diligence on critical acquisitions and investments; market entry and political risk analysis; and investigations. We provide tailored training and advisory services relating to financial crime, in particular anti-money laundering and sanctions compliance. Our clients include some of the world’s leading regulated financial institutions and corporations. Our team has decades of collective experience in advising clients on financial crime and intelligence gathering, helping them to manage risk and maximise potential.
Contact us today for further information on how we can help you.
Acusación por lavado de capitales contra bancos de Andorra hecho por el Departamento de Estado de USA. En esas transferencias ilegales se acusa a funcionarios del chavismo y a PDVSA
Meeting the high stakes challenge of effective sanctions data monitoringLeigh Hill
Identifying securities related to a sanctioned domicile or company is a straightforward concept, but in practice, it is a far more challenging task for compliance professionals.
Receiving a list of sanctions isn’t enough. In order to accurately define and maintain your ‘do not trade’ list, you need to identify all the securities related to each sanctioned entity – including those issued by domestic or foreign subsidiaries. Then there is the challenge of verifying beneficial ownership by sanctioned individuals.
Getting it right is essential to avoiding significant fines and reputational damage, but also enables you to confidently exploit investment opportunities in non-sanctioned securities.
In this webinar we will discuss:
-Issues and challenges involved in building and managing lists of sanctioned securities
-Approaches to getting it right and ensuring you’re in compliance with global sanctions regimes
-Tactics for reducing data errors and avoiding fines related to sanctions violations
Financial institutions spends millions of dollars every year bolstering their defences against terrorist financing. Terrorists operate by camouflaging themselves amongst civilian populations. If they can evade the authorities and intelligence communities, how can financial institutions mount a credible defence against the threat they pose to society?
For more information on ManchesterCF and other issues of Analytics please visit http://bit.ly/1p6UZyS
Financial Crime In The Real Estate Sector - Countering Illicit Money Flows.Aperio Intelligence
We are a corporate intelligence and financial crime advisory firm based in the City of London. We specialise in: conducting enhanced due diligence on high risk customers and third parties; integrity due diligence on critical acquisitions and investments; market entry and political risk analysis; and investigations. We provide tailored training and advisory services relating to financial crime, in particular anti-money laundering and sanctions compliance. Our clients include some of the world’s leading regulated financial institutions and corporations. Our team has decades of collective experience in advising clients on financial crime and intelligence gathering, helping them to manage risk and maximise potential.
Contact us today for further information on how we can help you.
Acusación por lavado de capitales contra bancos de Andorra hecho por el Departamento de Estado de USA. En esas transferencias ilegales se acusa a funcionarios del chavismo y a PDVSA
Meeting the high stakes challenge of effective sanctions data monitoringLeigh Hill
Identifying securities related to a sanctioned domicile or company is a straightforward concept, but in practice, it is a far more challenging task for compliance professionals.
Receiving a list of sanctions isn’t enough. In order to accurately define and maintain your ‘do not trade’ list, you need to identify all the securities related to each sanctioned entity – including those issued by domestic or foreign subsidiaries. Then there is the challenge of verifying beneficial ownership by sanctioned individuals.
Getting it right is essential to avoiding significant fines and reputational damage, but also enables you to confidently exploit investment opportunities in non-sanctioned securities.
In this webinar we will discuss:
-Issues and challenges involved in building and managing lists of sanctioned securities
-Approaches to getting it right and ensuring you’re in compliance with global sanctions regimes
-Tactics for reducing data errors and avoiding fines related to sanctions violations
Trust transaction monitoring and aml for swift messagingKeith Furst
This presentation was given at the prestigious ONE Aldwych hotel in London on July 14th 2016. The presentation discusses the implications to finance as regulatory and compliance controls become increasingly strict. How confident can you be that you are doing enough to spot and prevent risky transactions and money laundering attempts? And could technologies like blockchain help to increase confidence in transactions?
In July's edition we're talking about Trust, Transaction Monitoring, and anti-money laundering (AML) for financial messaging specifically:
How secure are current transaction methods?
What are the key weaknesses which can be exploited?
What approaches can be used to identify anomalies in financial messaging traffic?
What are the risks to Compliance Officers and financial institutions?
Are there improvements which can be made transaction monitoring systems?
Can technologies like blockchain be used to increase trust and confidence in financial messaging?
In this whitepaper we assess the gambling and gaming industry’s KYC and AML compliance challenges. Gambling identity verification processes can be complex, time consuming, and impact the customer experience. With a growing competitive landscape, the chances a customer may go elsewhere are high. This is where a frictionless, seamless, and quick onboarding service can add value – reduce abandonment, increase conversion rates, and accelerate the time-to-revenue. Visit https://evalid.io for more info!
it was a project assignment by our banking teacher related to an article published in dawn news paper kindly give your suggestions fa first time try :)
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Anti-money laundering and financial crime risks are very topical issues for banks, both large and small. Recent events show the impact these issues can have on banks ranging from HSBC to Banca Privada d’Andorra. In its 2015/16 business plan, the Financial Conduct Authority has said that financial crime is one of its top seven risks, replacing rapid house price growth. We can expect to see sustained regulatory attention in this area.
We're turning from cash but demande for notes has never been higherCashlessSociety
Last December, Atlas the Labrador was added to the Australian Federal Police force’s Canine Wall of Excellence, honoured for his service as the country’s first cash detection dog.
Atlas has sniffed out hundreds of thousands of dollars in his nine-year career, some hidden in stereo speakers or buried underground. And since he began work, Australian Customs and Queensland Police have followed the AFP’s lead, introducing canine squads focused on currency.
The dogs have their work cut out for them.
This presented is aimed at AML/CTF practitioners who would need quick reminders of the basics of AML. Tools are not very useful if the underlying basics are unknown.
Trust transaction monitoring and aml for swift messagingKeith Furst
This presentation was given at the prestigious ONE Aldwych hotel in London on July 14th 2016. The presentation discusses the implications to finance as regulatory and compliance controls become increasingly strict. How confident can you be that you are doing enough to spot and prevent risky transactions and money laundering attempts? And could technologies like blockchain help to increase confidence in transactions?
In July's edition we're talking about Trust, Transaction Monitoring, and anti-money laundering (AML) for financial messaging specifically:
How secure are current transaction methods?
What are the key weaknesses which can be exploited?
What approaches can be used to identify anomalies in financial messaging traffic?
What are the risks to Compliance Officers and financial institutions?
Are there improvements which can be made transaction monitoring systems?
Can technologies like blockchain be used to increase trust and confidence in financial messaging?
In this whitepaper we assess the gambling and gaming industry’s KYC and AML compliance challenges. Gambling identity verification processes can be complex, time consuming, and impact the customer experience. With a growing competitive landscape, the chances a customer may go elsewhere are high. This is where a frictionless, seamless, and quick onboarding service can add value – reduce abandonment, increase conversion rates, and accelerate the time-to-revenue. Visit https://evalid.io for more info!
it was a project assignment by our banking teacher related to an article published in dawn news paper kindly give your suggestions fa first time try :)
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Anti-money laundering and financial crime risks are very topical issues for banks, both large and small. Recent events show the impact these issues can have on banks ranging from HSBC to Banca Privada d’Andorra. In its 2015/16 business plan, the Financial Conduct Authority has said that financial crime is one of its top seven risks, replacing rapid house price growth. We can expect to see sustained regulatory attention in this area.
We're turning from cash but demande for notes has never been higherCashlessSociety
Last December, Atlas the Labrador was added to the Australian Federal Police force’s Canine Wall of Excellence, honoured for his service as the country’s first cash detection dog.
Atlas has sniffed out hundreds of thousands of dollars in his nine-year career, some hidden in stereo speakers or buried underground. And since he began work, Australian Customs and Queensland Police have followed the AFP’s lead, introducing canine squads focused on currency.
The dogs have their work cut out for them.
This presented is aimed at AML/CTF practitioners who would need quick reminders of the basics of AML. Tools are not very useful if the underlying basics are unknown.
The August issue of REIA News has just been released.
In this issue:
• The threat of cyber crime
• Innovation in property management
• Fire safety in strata management
• Changes to foreign investment: how to assist foreign purchasers Courtesy of http://www.ljgrealestate.com.au Carlos 0413560808 Linda 0409995578
The FBI is the lead federal agency for investigating malicious cyber activity by criminals, nation-state adversaries, and terrorists. To fulfill this mission, the FBI often develops resources to enhance operations and collaboration. One such resource is the FBI’s Internet Crime Complaint Center (IC3) which provides the public with a trustworthy and convenient mechanism for reporting information concerning suspected Internet-facilitated criminal activity. At the end of every year, the IC3 collates information collected into an annual report.
Credit is due to all original authors and no financial gain was made from the blog, Simply sharing an interesting story for educational purposes,
The Offshore Financial Centres - Conceiling the beneficial ownerFrank Erkens
Faced with the threat that the public may lose its confidence in the financial world, the international community has decided to uncover the numerous disguises used by criminals. This two-part series focuses on a number of important disguises, and the initiatives taken to resolve the problem of the concealment of beneficial owners. In the first part, we will look at the Offshore Financial Centres. This two-part series centres around the US legislative proposal HR3886. The aim of this legislative proposal is to facilitate the identification of the beneficial owner. Of course, the question remains whether this aim will be achieved or whether, as it appears now, the problem will simply relocate.
Money Laundering in the Art, Collectibles, and Luxury Goods IndustryBrandonRuse1
Money laundering and fraud cases in the rare art and luxury goods industry are increasing as the gap between resources and budgets is being widened by COVID-19.
Big data analytical driven fraud detection for finance; banks and insuranceSyed Danish Ali
utilizing anomaly detection to reduce fraud in insurance and banking. machine learning can liberate current players and give them a laser eye into suspicious transactions more than ever before.
In this webinar co-hosted with international tax expert Selva Ozelli we learn how to improve your company's compliance with foreign corrupt practices Act (FCPA), and third party due diligence/risk management, AND guard against FCPA and tax penalties.
You can watch full recordings of the webinar here; https://mco.mycomplianceoffice.com/mco-webinar/is-this-bribe-tax-deductible
apping the power of information and technology can help combat criminal activity and lead to rule of law and better and easier decision-making around the world. Effective anti-money laundering and fraud detection programs, based on international cooperation and transparency of information, are crucial tools in the fight against terrorism, human trafficking and drug cartels and can help promote a strong civil society, economic stability and the rule of law.
ZIGRAM is one of the world's fastest-growing risk and compliance technology organizations operating in the Data Asset and Financial Crimes Compliance (FCC) space. Our products and solutions are compliance-critical and power some of the world’s largest banks, risk organizations, and financial institutions. Our sectors of focus include financial services, legal, life sciences, energy, and information services. The team at ZIGRAM has decades' worth of experience in Data Assets, Anti-Money Laundering (AML), Know Your Customer (KYC), Due Diligence, and Risk. We aim to deliver value to users by boosting revenues, managing risk, and reducing the cost of doing business, in a data-driven world.
Our Vision is to solve real-world problems with data asset solutions in deep partnership with DIKW {Data, Information, Knowledge & Wisdom} clients & users.
ZIGRAM is a high impact organization which operates in the Data Asset space.
Our team is made up of professionals from varied domains like data science, technology, sales, financial services, research and business consulting.
Our aim is to deliver value to clients by Building and Managing Data Assets across use cases - thereby boosting revenues and reducing the cost of doing business, in a data driven world.
Over the last few years, we at BMR Advisors, have had the opportunity of working on complex and challenging data projects & products. This has been instrumental towards us developing global expertise in Data Assets, across the life cycle of conceptualization, sourcing, extraction, development & enhancement of data, for our clients.
The RBI is the third most active regulator in the world, penalising banks NOT for money laundering but due to a deficient AML program. Are Indian Banks assessing their AML programs comprehensively?
Challenges in AML Implementation in Bangladesh Abhishek Bali
Sarwar Chowdhury was invited to speak at the Fintelekt Annual AML Summit held in Dhaka on 6th feb 2017. He presented his views on ‘Challenges in AML Implementation’ to a distinguished set of MDs, DMDs, CAMLCOs, Senior Bankers and AML professionals. His thoughts, in summary, are that Bangladesh faces unique and immediate issues in AML compliance primarily because of:
1. Lack Senior Management Focus
2. Paucity of the right skill sets and manpower
3. Poor data quality
4. Limited cost effective or relevant solutions
5. De-risking is an immediate threat.
AMLMaps™ has been developed to give the global Anti-Money Laundering professional a singular, comprehensive and easy to reference resource for AML records, penalties & actions, from across the world.
AMLMaps™ is currently in Beta Mode, as our team of experts, researchers and AML professionals continue to develop & enhance its features with valuable inputs & insights, given by users.
S4A - Sustainable Structuring of Stressed AssetsAbhishek Bali
At BMR Advisors, we have analyzed the provisions and implications of the S4A. In addition, we have defined our views on the pitfalls and opportunities which this scheme may bring forth. This is the latest edition of The BMR View, where we attempt to look at the operational details of the scheme along with specific areas of focus, to manage risks and leverage opportunities.
While a lot has been said and written about The Black Money Bill (2015) over the last few months, most of this is based on the bill’s sections, directives and penalties, as cleared by the Cabinet. The conversations around this bill have been relegated to the number of years of imprisonment, fines and percentage of penalties. In our view this has led to a case of missing the forest for the trees.
BMR is one of India’s leading professional services organisation offering a range of Risk, Legal, Tax and M&A advisory for businesses of all sizes, across the globe. With engagements & projects delivered in 40+ Countries for over 750 clients, most of whom are Fortune 1000 organizations, BMR is one of the largest providers of multidisciplinary professional services with a global network that ensures integrated service to clients across the world.
Opendatabay - Open Data Marketplace.pptxOpendatabay
Opendatabay.com unlocks the power of data for everyone. Open Data Marketplace fosters a collaborative hub for data enthusiasts to explore, share, and contribute to a vast collection of datasets.
First ever open hub for data enthusiasts to collaborate and innovate. A platform to explore, share, and contribute to a vast collection of datasets. Through robust quality control and innovative technologies like blockchain verification, opendatabay ensures the authenticity and reliability of datasets, empowering users to make data-driven decisions with confidence. Leverage cutting-edge AI technologies to enhance the data exploration, analysis, and discovery experience.
From intelligent search and recommendations to automated data productisation and quotation, Opendatabay AI-driven features streamline the data workflow. Finding the data you need shouldn't be a complex. Opendatabay simplifies the data acquisition process with an intuitive interface and robust search tools. Effortlessly explore, discover, and access the data you need, allowing you to focus on extracting valuable insights. Opendatabay breaks new ground with a dedicated, AI-generated, synthetic datasets.
Leverage these privacy-preserving datasets for training and testing AI models without compromising sensitive information. Opendatabay prioritizes transparency by providing detailed metadata, provenance information, and usage guidelines for each dataset, ensuring users have a comprehensive understanding of the data they're working with. By leveraging a powerful combination of distributed ledger technology and rigorous third-party audits Opendatabay ensures the authenticity and reliability of every dataset. Security is at the core of Opendatabay. Marketplace implements stringent security measures, including encryption, access controls, and regular vulnerability assessments, to safeguard your data and protect your privacy.
Explore our comprehensive data analysis project presentation on predicting product ad campaign performance. Learn how data-driven insights can optimize your marketing strategies and enhance campaign effectiveness. Perfect for professionals and students looking to understand the power of data analysis in advertising. for more details visit: https://bostoninstituteofanalytics.org/data-science-and-artificial-intelligence/
Data Centers - Striving Within A Narrow Range - Research Report - MCG - May 2...pchutichetpong
M Capital Group (“MCG”) expects to see demand and the changing evolution of supply, facilitated through institutional investment rotation out of offices and into work from home (“WFH”), while the ever-expanding need for data storage as global internet usage expands, with experts predicting 5.3 billion users by 2023. These market factors will be underpinned by technological changes, such as progressing cloud services and edge sites, allowing the industry to see strong expected annual growth of 13% over the next 4 years.
Whilst competitive headwinds remain, represented through the recent second bankruptcy filing of Sungard, which blames “COVID-19 and other macroeconomic trends including delayed customer spending decisions, insourcing and reductions in IT spending, energy inflation and reduction in demand for certain services”, the industry has seen key adjustments, where MCG believes that engineering cost management and technological innovation will be paramount to success.
MCG reports that the more favorable market conditions expected over the next few years, helped by the winding down of pandemic restrictions and a hybrid working environment will be driving market momentum forward. The continuous injection of capital by alternative investment firms, as well as the growing infrastructural investment from cloud service providers and social media companies, whose revenues are expected to grow over 3.6x larger by value in 2026, will likely help propel center provision and innovation. These factors paint a promising picture for the industry players that offset rising input costs and adapt to new technologies.
According to M Capital Group: “Specifically, the long-term cost-saving opportunities available from the rise of remote managing will likely aid value growth for the industry. Through margin optimization and further availability of capital for reinvestment, strong players will maintain their competitive foothold, while weaker players exit the market to balance supply and demand.”
Techniques to optimize the pagerank algorithm usually fall in two categories. One is to try reducing the work per iteration, and the other is to try reducing the number of iterations. These goals are often at odds with one another. Skipping computation on vertices which have already converged has the potential to save iteration time. Skipping in-identical vertices, with the same in-links, helps reduce duplicate computations and thus could help reduce iteration time. Road networks often have chains which can be short-circuited before pagerank computation to improve performance. Final ranks of chain nodes can be easily calculated. This could reduce both the iteration time, and the number of iterations. If a graph has no dangling nodes, pagerank of each strongly connected component can be computed in topological order. This could help reduce the iteration time, no. of iterations, and also enable multi-iteration concurrency in pagerank computation. The combination of all of the above methods is the STICD algorithm. [sticd] For dynamic graphs, unchanged components whose ranks are unaffected can be skipped altogether.
Levelwise PageRank with Loop-Based Dead End Handling Strategy : SHORT REPORT ...Subhajit Sahu
Abstract — Levelwise PageRank is an alternative method of PageRank computation which decomposes the input graph into a directed acyclic block-graph of strongly connected components, and processes them in topological order, one level at a time. This enables calculation for ranks in a distributed fashion without per-iteration communication, unlike the standard method where all vertices are processed in each iteration. It however comes with a precondition of the absence of dead ends in the input graph. Here, the native non-distributed performance of Levelwise PageRank was compared against Monolithic PageRank on a CPU as well as a GPU. To ensure a fair comparison, Monolithic PageRank was also performed on a graph where vertices were split by components. Results indicate that Levelwise PageRank is about as fast as Monolithic PageRank on the CPU, but quite a bit slower on the GPU. Slowdown on the GPU is likely caused by a large submission of small workloads, and expected to be non-issue when the computation is performed on massive graphs.
2. Introduction
AMLMaps™ has been developed to give the
global Anti-Money Laundering professional a
singular, comprehensive and easy to
reference resource for AML records,
penalties & actions, from across the world.
AMLMaps™ is currently in Beta Mode, as
our team of experts, researchers and AML
professionals continue to develop & enhance
its features with valuable inputs & insights,
given by users.
We aim to keep AMLMapsTM updated,
crowd-sourced and free-to-use.
Please visit us at www.amlmaps.com
1,817
Records
USD 45.09 Bn
Cumulative Penalties
1,880
Incarcerations
2
3. Highlights of the Month of Dec 2016
HIGHLIGHTS OF THE MONTH
Regulators of United States (27) & United Kingdom (6) reported the highest
number of cases
Highest imprisonment was awarded to former Northern Cape African National
Congress (ANC) Chairperson and finance MEC, John Block (144 months) along
with a confiscation order (ZAR 2,000,000) for conspiracy to commit money
laundering and fraud
Highest penalty of USD 235 Mn has been imposed on Intesa Sanpaolo S.p.A.
and its NewYork branch for violations of NewYork anti-money laundering and
Bank Secrecy Act (AML/BSA) laws
Federal Bureau of Investigation, Internal Revenue Service (IRS), Monetary
Authority of Singapore & South African Reserve Bank have been most active in
investigating and combating money laundering
3
AML Numbers
Cases Reported 22
Incarcerated 28
Imprisonment 1,187 Months
Penalties $290.26 Mn
4. Noted AML Cases for the Month
4
Intesa Sanpaolo S.p.A. and its New York branch
penalized for anti money laundering violations
New York Department of Financial Services (DFS)
imposed monetary penalty of USD 235,000,000 on the
Italian bank, Intesa Sanpaolo S.p.A. and its New York
branch in December 2016, for violations of New York
anti-money laundering and Bank Secrecy Act (AML/BSA)
laws. The bank violations include compliance failures
over several years stemming from deficiencies in the
implementation and oversight of its transaction
monitoring system.
Source: http://on.ny.gov/2i9waa8
Credit Suisse Securities LLC penalized for anti money
laundering violations
Financial Industry Regulatory Authority (FINRA) imposed monetary
penalty of USD 16,500,000 on Credit Suisse Securities LLC in
December 2016, for anti-money laundering violations involving
microcap stock transactions and for not properly implementation of
systems to monitor for potentially suspicious money movements.
Sources: http://bit.ly/2hRJ7rl | http://bit.ly/2iCyWWn
Former Budget Minister of France sentenced for money
laundering offenses
Jerome Cahuzac (Cahuzac), former Budget Minister of France
was sentenced to 3 years’ imprisonment by Paris Court in
December 2016, for conspiracy to commit money laundering and
tax fraud. Cahuzac’s ex-wife, Patricia Menard was sentenced to 2
years' imprisonment for her role in stashing millions of euros
abroad from the couple's lucrative hair transplant business. The
Court also sentenced Swiss Banker, Francois Reyl to 1 year
suspended sentence and ordered him to pay fine amount of USD
405,000, and imposed monetary penalty of EUR 1,875,000 on
Reyl Bank, for assisting the couple.
Sources: http://bit.ly/2iHonnx | http://bit.ly/2iOvlo1
Standard Chartered Bank, Singapore Branch
penalized for anti money laundering violations
Monetary Authority of Singapore (MAS) imposed monetary
penalty of SGD 5,200,000 on Standard Chartered Bank,
Singapore Branch (SCB) in December 2016, for deficiencies in
the bank’s customer due diligence measures and controls for
ongoing monitoring, which resulted in numerous breaches of
MAS’ AML regulations. The bank has also been directed to
appoint an independent party to confirm that rectification
measures have been effectively implemented and to report its
findings to MAS.
Source: http://bit.ly/2h0ZMJQ
Former Northern Cape African National Congress (ANC) Chairperson
sentenced for money laundering Offenses
South Africa-based former Northern Cape African National Congress (ANC)
Chairperson and finance MEC, John Block was sentenced to 12 years' imprisonment
and ordered to pay confiscation order of ZAR 2,000,000 by Northern Cape High
Court in December 2016, for conspiracy to commit money laundering and fraud. He
was also sentenced to 15 years' imprisonment for fraud.
Sources: http://bit.ly/2j8eDTM | http://bit.ly/2izkpNi
5. Trending News
5
Adani companies facing
multiple financial crimes,
corruption probes
Adani Enterprises Ltd, an
Indian multinational
conglomerate company with
diversified businesses, is
undergoing two separate
investigations by Indian
authorities into allegations of
trade-based money laundering.
Adani Enterprises is facing
multiple financial crime and
corruption probes for
siphoning money offshore and
artificially inflating power
prices at the expense of Indian
consumers.
http://ab.co/2hdtj3K
Police arrest 22 Hong
Kong citizens in a HKD
13 million money
laundering crackdown
According to South China
Morning Post, in
December 2016, Hong
Kong Police arrested 22
Hong Kong citizens who
were accused of laundering
HKD13 million through
their bank accounts. The
money was suspected to
have been linked to 18
deception cases included
investment frauds and
email scams in Canada,
Singapore, Taiwan, South
Korea and Africa last year
and this year.
http://bit.ly/2i9VWex
South African lender
FirstRand closed
accounts for money-
laundering suspicions
In December 2016,
FirstRand, South Africa's
biggest bank by market value
cut ties with Oakbay
Investments, a Gupta
brothers’ company, on
suspicions of money-
laundering. The Gupta’s
whose businesses range
from media to mining, are
alleged for influence-peddling
in President Jacob Zuma's
government. Between
December 2015 and April
2016, Standard Bank,
Nedbank and Barclays
Africa, terminated the
accounts of Gupta’s
companies.
http://bit.ly/2iJ79qT
U.S. charges Florida men
with laundering money for
Venezuelan officials
In December 2016, Florida
construction equipment
exporter's owners were
arrested on charges of illegally
transferring over USD100
million from businesses largely
in Venezuela to U.S. and
foreign bank accounts
belonging to Venezuelan
government officials and
others. The owners allegedly
facilitated hundreds of
transmissions of funds into the
United States on behalf of an
unnamed large consortium of
Venezuelan construction
companies. A case has been
filed against them at the
Manhattan federal court.
http://reut.rs/2jGut7Q
Backpage.com accused with
new pimping, money-
laundering charges by
California Attorney General
In December 2016, California
Attorney General, Kamala
Harris filed criminal charges of
pimping and money laundering
against the chief executive and
controlling shareholders of the
website Backpage.com, reviving a
case that was earlier dismissed
by a judge. Backpage, the
second-largest U.S. online
classified ad service after
Craigslist, has faced scrutiny
from the U.S. Senate as well as
civil lawsuits over allegations
that the site facilitates sex
trafficking, especially of children.
http://reut.rs/2iSaVZS
6. Contributors
6
Name Country
Oyvind Norberg Norway
Natarajan K India
Lukasz Poland
Guillermo Ruiz Mexico
Steven Kemmerling USA
Anne Jablonski USA
AMLMapsTM incorporates core elements of a crowd-sourcing by leveraging contributions, suggestions and inputs from
the AML & FCC community around the world. We would like to recognize noted contributors, who have engaged with
the AMLMaps team, in the past month.