Technology can increasingly help companies and people prevent terrorist financing. It is no secret that financial crime and terrorist funding is becoming a progressively more important global issue each and every day. Individuals are constantly searching for new ways to…
US Sanctions Against Syria: Necessary or a Waste of Time?
Have U.S. sanctions been effective against Syria? It is no secret that the Syrian conflict has been consistently escalating over the past several years. While many countries have become increasingly wary of the violence, the United States is particularly concerned….
Russia is Hit With Strict Sanctions from the US and EU
Recently, tensions between Russia and both the US and EU escalated to a new height. It is no secret that as conflict between Russia and the Ukraine continues to grow, so does the rest of the western world’s disapproval with…
HKMA investigates latest Hong Kong Money-Laundering Breaches
Recently, Hong Kong declared that there would be thorough investigations of several financial institutions and banks due to supposed breaches of the country’s money laundering laws. This will be the first time in years that these types of investigations will…
Why BNP Paribas is Being Accused of Money Laundering
It has recently been reported that the bank known as BNP Paribas is facing accusations of being involved in a major money laundering scheme. The accused money-laundering scheme has been occurring for over 7 years and involves the transfer of…
How Technology Can Be Used to Stop Drug Cartels From Laundering Money
Money Laundering has become a very important financial issue that authorities are desperately trying to stop. Billions of dollars every single year are smuggled illegally across international borders, and this cash can be incredibly difficult to track down. Fortunately, there…
RBS’s Expensive Failure – A £5.6m Case Study
RBS’s expensive failure to adequately screen its clients In what has become a screaming warning for businesses and organizations globally, Royal Bank of Scotland (RBS) was fined £5.6m in 2010 for failing to implement adequate systems and controls to prevent…
Is HSBC Stopping Terrorist Money Laundering? Whistleblower Urges Federal Reserve to Reopen $1.9 billion Settlement
In 2012, HSBC paid a record $1.9 billion fine to settle money-laundering accusations. Yet in a letter to the Federal Reserve, which he publicised this September, ex-employee Everett Stern (among a number of other weighty allegations) accused HSBC of ongoing…