International Sanctions International sanctions restrict trade and economic relations between individuals, organizations, or countries. Diplomatic, transportation, and communication restrictions are also among the international sanctions restrictions. International sanctions are imposed for a variety of reasons. Diplomatic disputes, security issues, human rights violations, international terrorism, and widespread mass destruction of weapons are all reasons [...]

Watchlist Screening Watchlists are databases that include searches for suspected terrorists, money launderers, fraudsters, and PEPs. They are being stored internationally at governmental levels about information collected at the governmental level, law enforcement databases, international databases, and regulatory databases about prohibited individuals or corporations in industries such as finance, healthcare, and agriculture. What [...]

VDD-Vendor Due Diligence When a company intends to buy, work with, or develop a commercial alliance with another company, it conducts vendor due diligence (VDD). Vendor due diligence, like customer due diligence (CDD), is an important component of AML/CFT since it guarantees potential buyers that their prospects are financially secure and represent no [...]

Money Mules A money mule is someone who transmits money obtained illegally on behalf of another in person, through a courier service, or electronically in exchange for a fee. Money mules are not directly involved in the crimes, but they are complicit in the sense that they launder the revenues of such crimes. [...]

Ponzi Scheme A Ponzi scheme is a fraudulent investment operation in which the operator, either an individual or an organization, pays returns to its investors from new capital contributed to the operators by new investors rather than profit gained from genuine sources. Typically, enormous returns on the initial investment are promised. The fraudster [...]

Anti-Money Laundering Compliance in Turkish Republic The Turkish Republic has made significant advancements in the establishment of anti-money laundering regulations as well as the mechanisms for detecting and countering them in recent years. In 1996, the first instance of money laundering that was prosecuted as a financial crime in Turkiye took place. Since [...]