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.
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.
Governments across the globe have been taking measures to increase the scrutiny of AML/CFT processes and controls, to fight Financial crimes. Individuals and firms are required to comply with minimum standards; failure to keep up with the changing requirements can lead to penalties and legal consequences.
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 :)
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?
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.
Governments across the globe have been taking measures to increase the scrutiny of AML/CFT processes and controls, to fight Financial crimes. Individuals and firms are required to comply with minimum standards; failure to keep up with the changing requirements can lead to penalties and legal consequences.
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 :)
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?
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.
With today’s modern advancements in global banking and financial services technologies and interconnectivity, implementing effective, robust, and proportional Anti-Money Laundering (AML) and Counter the Financing of Terrorism
(CFT) compliance frameworks has grown ever more challenging. Not only must firms be able to implement risk-based assessments that are proportional to the size and nature of a firm’s activities, they must also ensure that these systems
can seamlessly integrate third party systems in order to provide effective monitoring of AML and CFT risks.
This training course has been specifically designed to provide a firm’s compliance and front office employees with highly comprehensive training on AML global trends and challenges, as well as a thorough review of money laundering methods
and ways of concealing beneficial ownership. By attending the training course individuals will be thoroughly trained on global money laundering techniques and will be equipped to be able to
more effectively carry out internal client AML and CFT checks and risk assessments. The training course provides practical and interactive training combined with contextual case studies
to exemplify global AML and CFT practices.
Money Laundering and Its Fall-out - REGULATION OF MONEY LAUNDERING: INDIA - ...Resurgent India
With growing financial strength, India is becoming more vulnerable to money laundering activities, despite its strict foreign exchange laws, which make it difficult for criminals to launder money.
Anti-money Laundering:-
The process of disguising the proceeds of crime in an effort to conceal their illicit origins and legitimize their future use. Its main objective is to conceal true ownership and origin of the proceeds, a desire to maintain control, a need to change the form of the proceeds.Techniques used can be simple, diverse, complex, but secret.
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.
With today’s modern advancements in global banking and financial services technologies and interconnectivity, implementing effective, robust, and proportional Anti-Money Laundering (AML) and Counter the Financing of Terrorism
(CFT) compliance frameworks has grown ever more challenging. Not only must firms be able to implement risk-based assessments that are proportional to the size and nature of a firm’s activities, they must also ensure that these systems
can seamlessly integrate third party systems in order to provide effective monitoring of AML and CFT risks.
This training course has been specifically designed to provide a firm’s compliance and front office employees with highly comprehensive training on AML global trends and challenges, as well as a thorough review of money laundering methods
and ways of concealing beneficial ownership. By attending the training course individuals will be thoroughly trained on global money laundering techniques and will be equipped to be able to
more effectively carry out internal client AML and CFT checks and risk assessments. The training course provides practical and interactive training combined with contextual case studies
to exemplify global AML and CFT practices.
Money Laundering and Its Fall-out - REGULATION OF MONEY LAUNDERING: INDIA - ...Resurgent India
With growing financial strength, India is becoming more vulnerable to money laundering activities, despite its strict foreign exchange laws, which make it difficult for criminals to launder money.
Anti-money Laundering:-
The process of disguising the proceeds of crime in an effort to conceal their illicit origins and legitimize their future use. Its main objective is to conceal true ownership and origin of the proceeds, a desire to maintain control, a need to change the form of the proceeds.Techniques used can be simple, diverse, complex, but secret.
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
InstructionsBased on the theories you have learnt, write a two-cooperapleh
Instructions:
Based on the theories you have learnt, write a two-page (double spaced) paper on the case provided to you. It will help you evaluate your knowledge of the concepts you are expected to have learnt at the end of this module. It will help you describe theories and apply them to real life situations.
Your paper should discuss the elements of crime and recognize the origins of criminal behavior depicted in this case. Using two different views of crime and two different explanations of crime in the context of different criminological schools of thought, explain what crimes Florida Republican Sen. Marco Rubio was referring to as ‘dirty money”.
Article:
In a move with significant implications for the U.S. housing market, Florida Republican Sen. Marco Rubio is seeking to take a Treasury Department crackdown on dirty money in luxury real estate and expand it from a few high-priced enclaves to the entire nation.
Rubio says his proposal is an attempt to root out criminals who use illicit funds and anonymous shell companies to buy homes — a form of money laundering that hides the cash’s tainted origin from law enforcement and banks. The widespread practice enables terrorism, sex trafficking,corruption, and drug dealing by providing an outlet for dirty cash, according to transparency advocates.
Through an amendment to an unrelated major spending bill, Rubio will ask Treasury to study whether government regulators should force shell companies that buy homes priced at $300,000 or more in cash nationwide to disclose their owners. That could be a figure as high as 10 percent of the nation’s real-estate deals.
A similar reporting requirement affecting transactions priced at $1 million or more has already had a chilling effect on all-cash corporate sales in Miami-Dade County, which has been under Treasury’s microscope since 2016.“Shell companies involved in shady activities are a big problem, especially throughout South Florida,” Rubio said in a statement to McClatchy and the Miami Herald. “With this provision, a study would be conducted to look at requiring all shell companies that make cash transactions, regardless of their area, to disclose their identities.”
The amendment builds on a previous Treasury disclosure order that applied only to certain markets, including South Florida.
That order — which forced shell companies buying homes with cash to reveal their true owners to the government — has been in place in some areas since March 2016 at various price points. Its effects were immediate and stunning. As soon as the order took hold, shell companies buying homes with cash dropped off the map, a recent study by academic economists found. In Miami- Dade, the number of corporate cash sales plummeted 95 percent, although a strong overall market suggests creative buyers found ways to circumvent the rules, researchers said.
Before the crackdown, corporate cash sales accounted for roughly a third of home-sale volume in Miami-Dade, which is ...
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.
These are our some of our cases of note:
R v Nadir
Description: Bark & Co have been instructed by the former CEO of Polly Peck International (PPI) in an alleged multi-million pound fraud. The client faced 66 counts of Fraud & Theft, but failed to appear in the 1993 trial. Mr Nadir has returned to the UK to fight to clear his name.
Cases - Bark Co Solicitors - Specialist Fraud Firm-bloggerGaffney Eaton
These are our some of our cases of note:
R v Nadir
Description: Bark & Co have been instructed by the former CEO of Polly Peck International (PPI) in an alleged multi-million pound fraud. The client faced 66 counts of Fraud & Theft, but failed to appear in the 1993 trial. Mr Nadir has returned to the UK to fight to clear his name.
The trial date is now set for January 2012.
Significance: One of the first high profile SFO prosecutions.
R v Ravjani & Others
Bark & Co represented a client accused significant involvement in a complex contra-trading MTIC fraud. The alleged fraud was of a scale that prompted the Government to proffer the case as an explanation as to why the UK balance of payments were adrift for a particular year. Unfortunately, reporting restrictions prevent us from publishing the full outcome at this time.
R v X
Description: This matter involves an insider trading investigation at a number of banks and hedge funds and other large financial institutions conducted by the FSA and SOCA which Reuters reports has “sent shockwaves through the country's financial industry”.
Significance: This case involves significant press interest and involves the representation of a director at a very high profile financial institution.
862018 Rubio plans national crackdown on real estate money l.docxsleeperharwell
8/6/2018 Rubio plans national crackdown on real estate money laundering | Miami Herald
https://www.miamiherald.com/news/politics-government/article215762120.html 1/13
POLITICS
Crackdown on dirty money shook Miami real estate.
Now, Rubio wants to take it national
WASHINGTON —
BY KEVIN G. HALL AND NICHOLAS NEHAMAS
[email protected]
[email protected]
July 31, 2018 07:00 AM
Updated July 31, 2018 11:55 AM
In a move with significant implications for the U.S. housing market, Florida
Republican Sen. Marco Rubio is seeking to take a Treasury Department crackdown on dirty
money in luxury real estate and expand it from a few high-priced enclaves to the entire nation.
Rubio says his proposal is an attempt to root out criminals who use illicit funds and anonymous
shell companies to buy homes — a form of money laundering that hides the cash’s tainted origin
from law enforcement and banks. The widespread practice enables terrorism, sex trafficking,
Privacy - Terms
https://www.miamiherald.com/news/politics-government/
mailto:[email protected]
mailto:[email protected]
https://www.google.com/intl/en/policies/privacy/
https://www.google.com/intl/en/policies/terms/
8/6/2018 Rubio plans national crackdown on real estate money laundering | Miami Herald
https://www.miamiherald.com/news/politics-government/article215762120.html 2/13
corruption, and drug dealing by providing an outlet for dirty cash, according to transparency
advocates.
Through an amendment to an unrelated major spending bill, Rubio will ask Treasury to study
whether government regulators should force shell companies that buy homes priced at $300,000
or more in cash nationwide to disclose their owners. That could be a figure as high as 10 percent
of the nation’s real-estate deals.
A similar reporting requirement affecting transactions priced at $1 million or more has already
had a chilling effect on all-cash corporate sales in Miami-Dade County, which has been under
Treasury’s microscope since 2016.
Latest news by email
The afternoon's latest local news
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“Shell companies involved in shady activities are a big problem, especially throughout South
Florida,” Rubio said in a statement to McClatchy and the Miami Herald. “With this provision, a
study would be conducted to look at requiring all shell companies that make cash transactions,
regardless of their area, to disclose their identities.”
The amendment builds on a previous Treasury disclosure order that applied only to certain
markets, including South Florida.
That order — which forced shell companies buying homes with cash to reveal their true owners to
the government — has been in place in some areas since March 2016 at various price points. Its
effects were immediate and stunning. As soon as the order took hold, shell companies buying
homes with cash dropped off the map, a recent study by academic economists found. In Miami-
Dade, the number of corporate cash sales plummeted 95 percent, although a strong overa.
Bark & Co have been instructed by the former CEO of Polly Peck International (PPI) in an alleged multi-million pound fraud. The client faced 66 counts of Fraud & Theft, but failed to appear in the 1993 trial. Mr Nadir has returned to the UK to fight to clear his name.
Avrupa Konutlari Yenimahalle - Listing TurkeyListing Turkey
Welcome to Avrupa Konutları Yenimahalle, where luxury living meets unparalleled convenience in the heart of Istanbul. Developed by Artaş Holding, one of Turkey’s leading construction companies, this prestigious residential project offers a contemporary lifestyle experience like no other.
https://listingturkey.com/property/avrupa-konutlari-yenimahalle/
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
Oeiras Tech City, Developed by RE Capital and REIG, Will Become Lisbon's Futu...Newman George Leech
Oeiras Tech City, a historic development in the Oeiras municipality of Lisbon, is acquired by RE Capital and REIG. It is located on a 93,000-square-meter plot of land and combines co-living, business, and residential areas. It highlights ESG principles and is close to Tagus Park, which improves the urban landscape of Lisbon.
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
Outside View from the apartment and flat balcony is very beautiful.
For more information contact AASHIYANA STAR PROPERTIES
7766900371
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...BrickAndBolt
Load-bearing walls are the backbone of any home construction, providing crucial structural support that carries the weight of the house above. For companies like Brick and Bolt Mysore and Bricknbolt Faridabad, understanding and properly implementing these elements are key to constructing safe and durable buildings.
Scanning tenants in NYC requires a thorough and compliant approach to ensure you find reliable renters. For a positive rental experience, consider hiring a property management service. Belgium Management LLC specializes in NYC rental property management and tenant relationship management. We prioritize tenant satisfaction, making us a trusted name in New York property management. Our dedicated team ensures tenants feel valued and supported throughout their lease.
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
MC Heights-Best Construction Company in jhanglaraibfatim009
MC Heights stands as the epitome of excellence in construction within Jhang. With a commitment to unparalleled quality and innovative design, MC Heights redefines urban living in the heart of Jhang. Offering luxurious residential spaces, cutting-edge commercial complexes, and vibrant community areas, MC Heights caters to the diverse needs of modern lifestyles. Our dedication to superior craftsmanship and customer satisfaction ensures that every aspect of MC Heights exceeds expectations, making it the premier choice for those seeking unparalleled sophistication and comfort in Jhang.
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Financial Crime In The Real Estate Sector - Countering Illicit Money Flows.
1. FINANCIAL CRIME IN THE REAL ESTATE SECTOR
April 2016
COUNTERING ILLICIT MONEY FLOWS
2. ILLICIT MONEY IN REAL ESTATE: Facts and Figures
2 FINANCIAL CRIME IN THE REAL ESTATE SECTOR – COUNTERING ILLICIT MONEY FLOWS
• London has recently been dubbed the ‘world
capital of money laundering’ in the press.
• Billions of pounds of corrupt funds have been
laundered by criminals and foreign officials buying
upmarket London properties through anonymous
offshore companies.
• 75% of properties owned by subjects of corruption
investigations were held through offshore shell
companies, according to the Metropolitan Police.
• In 2013, the Financial Services Authority estimated
that between GBP 23-57 billion was laundered through
the UK, corresponding to 1.4-3.6% of the national GDP
that year.
In 2014, the regulator fined three UK estate
agents for deficiencies in their anti-money
laundering programmes:
Jackson Gurundy: GBP 170,000
Hastings International: GBP 48,000
Jeffrey Ross: GBP 29,000
3. ILLICIT MONEY IN REAL ESTATE: Facts and Figures (cont.)
3 FINANCIAL CRIME IN THE REAL ESTATE SECTOR – COUNTERING ILLICIT MONEY FLOWS
• Transparency International - a highly respected NGO
focused on anti-corruption - notes that the sources of
foreign investment for the highest value properties in
the UK tend to be from regions of the world with
substantial domestic public sector corruption
problems, namely: Eastern Europe, Central Asia and
MENA. This correlates with a 2013 study by Savills,
which found that 90% of new build luxury properties
were purchased by overseas buyers, primarily from
Eastern Europe, Russia, MENA and China.
• Out of the 144 properties involved in Proceeds of
Crime Unit investigations in 2015, only 31 were
registered to individuals, though primarily to close
associates of the corruption suspect.
4. FINANCIAL CRIME IN THE REAL ESTATE SECTOR – COUNTERING ILLICIT MONEY FLOWS
MONEY LAUNDERING THROUGH REAL ESTATE: How and Why?
4
• Money laundering is the process by which criminals
conceal the illegal origin of the resulting property
or income.
• To distance themselves from their crimes when
purchasing property, corrupt individuals use complex
and opaque corporate structures and legal
arrangements, often spanning multiple jurisdictions
and “secrecy havens”.
• These structures deliberately obscure the identity
of those who own the companies.
• Exploiting the often credible reputation of
intermediaries - such as estate agents and property
lawyers, criminals can more easily pass initial
eligibility checks.
Two notable cases of London properties purchased
with corrupt funds were those of Saadi Gadaffi
from Libya, and James Ibori of Nigeria.
5. FINANCIAL CRIME IN THE REAL ESTATE SECTOR – COUNTERING ILLICIT MONEY FLOWS
MONEY LAUNDERING THROUGH REAL ESTATE: How and Why? (cont.)
5
• Intermediaries allow criminals to gain access to legitimate
institutions and carry out transactions, while ‘keeping
sufficient distance’ from the true source of funds.
• Luxury UK properties provide a safe investment for
criminals with very low risk of capital loss; as well
as a source of legitimate earnings, through equity
or rental income.
• Criminals may be drawn to the property market
as a channel to launder illicit funds due to the:
o Ability to buy real estate using cash and
disguise ultimate beneficial ownership.
o Ability to launder significant amount of
funds in a single transaction.
o Ability to generate legitimate funds
through equity or rental income.
o Stable market and relatively low
risk of capital loss.
o Air of respectability it affords.
6. FINANCIAL CRIME IN THE REAL ESTATE SECTOR – COUNTERING ILLICIT MONEY FLOWS
IN THE PRESS: Recent Negative Publicity
6
Date Publication Content
March 2016 The Guardian: “Kleptocracy Tours Expose State
Failures to Stop Dirty Money Buying Up London”
The article by Roman Borisovich (former Vice President of Russia’s largest insurance company
turned anti-corruption activist) is part of his effort to bring public awareness to alleged corrupt
Russian, Ukrainian and Kazakh officials and oligarchs’ multi-million pound property purchases.
October 2015 Transparency International: “Corruption on Your
Doorstep: How Corrupt Capital is Used to Buy
Property in the UK”.
Transparency International’s in-depth analysis concludes that significant regulatory changes
need to be made to ensure that estate agents and other intermediaries assist in preventing
corrupt officials from exploiting the UK property market to launder their ill-gotten funds.
July 2015 BBC 4: “From Russia with Cash” The documentary centres on undercover reporters posing as corrupt Russian government
officials attempting to purchase a property in London with dirty money. The reporters targeted
five London estate agents in upscale neighbourhoods and concluded that the estate agents
were indifferent to the source of funds, despite repeatedly being informed of its illicit origins.
March 2015 Oliver Harvey and Robin Winkler, Deutsche Bank
foreign exchange specialists: “Dark Matter: The
Hidden Capital Flows that Drive G10 Exchange Rates”
Deutsche Bank’s special report concluded that the UK has seen GBP1 billion a month in
unrecorded capital inflows, primarily from Russia, with much of it channelled to the London
property market. The analysts assert that a substantial amount of this money is illicit, and has
had a direct correlation on the property price chain in the city.
February 2015 –
January 2016
New York Times: “Towers of Secrecy” Over a year, the NYT investigated and unpacked shell companies which own some of New
York’s and Los Angeles’ most expensive properties. The exposé revealed ownership of at least
16 properties with ties to suspect funds, including from Russian, Chinese and Malaysian
politically-exposed individuals whose official salaries were not commensurate with the price of
the properties purchased. Some of these individuals have been accused - officially and/or in the
press - of corruption and other crimes.
The real estate industry’s connection to corrupt funds has frequently featured in the press over the past year, primarily exposing
weaknesses which have enabled corrupt officials to purchase luxury properties in London and New York. Here are a few examples:
7. 7 FINANCIAL CRIME IN THE REAL ESTATE SECTOR – COUNTERING ILLICIT MONEY FLOWS
Corruption is a major contributor to global poverty.
Money expropriated by corrupt government officials
considerably reduces government resources meant to
provide social services, investments in infrastructure and
economic development ,which would ultimately help
their citizens lift themselves out of extreme poverty,
and assist in their countries’ prosperity.
One of the most important controls over the
prevention and detection of money laundering is to
have staff alert and trained to identify potentially
suspicious activities. Competent staff can safeguard a
firm from enforcement actions, costly fines and
remediation.
Fines and enforcement actions are inevitably
accompanied by a media frenzy of negative press
concerning the target firm, which erodes customer
confidence in their brand - and can reasonably
impact its bottom line.
BROADER IMPLICATIONS: Negative Effects
8. REGULATIONS: Future Landscape
8 FINANCIAL CRIME IN THE REAL ESTATE SECTOR – COUNTERING ILLICIT MONEY FLOWS
• In its publication “Corruption on Your Doorstep”,
Transparency International (TI) notes strategic
recommendations to prevent the UK property market from
being exploited by criminals. Specifically, TI suggests:
o Mandating that ultimate beneficial ownership
information, including natural persons behind legal
structures as well as property valuation, be
registered with the Land Registry. This information
should in turn be publicly available.
o Requiring estate agents to perform due diligence on
purchasers in addition to sellers.
o Introducing a limit on cash payments when
purchasing a property, and requiring that remaining
funds come from a bank account.
o For HMRC to consistently enforce estate agents’
regulatory compliance through the use of monetary
penalties and incarcerations.
o Requiring more relevant anti-money laundering
training for estate agents.
UK anti-money laundering efforts have, over time, become
more aligned with those in the US. As a result, FinCEN’s
temporary measure, stronger transparency requirements
included in the EU’s 4th Anti-Money Laundering Directive,
and the UK’s upcoming Global Anti-corruption Summit could
signify an impending change in UK estate agents’ AML
standards. Moreover, a consultation paper on “Beneficial
Ownership Transparency” by the Department for Business
Innovation & Skills echoes some of TI’s recommendations.
9. REGULATIONS: Future Landscape (cont.)
9 FINANCIAL CRIME IN THE REAL ESTATE SECTOR – COUNTERING ILLICIT MONEY FLOWS
• On the back of the New York Times’ series “Towers of
Secrecy”, the Financial Crimes Enforcement Network
(FinCEN, a division of the US Treasury) announced a
temporary measure to identify and deter money
laundering through real estate. From 1 March 2016 until
31 August 2016, title insurance companies are required
to report the identities of cash purchasers of certain
luxury properties in Manhattan and Miami.
• The US real estate industry has repeatedly been granted
exemption from AML requirements prescribed in the USA
Patriot Act. FinCEN’s temporary measure could signal a
more permanent regulatory change in the future.