Customer Due Diligence Checklist & How Can You Improve CDD? Customer Due Diligence (CDD) plays a vital role in risk management, providing a safeguard for individuals and businesses against potential engagement in illicit activities and financial crimes. Operating within the Know Your Customer (KYC) framework, CDD entails the identification of customers and the [...]

What is the Difference Between Embargos and Sanctions? Embargos are a sеt of intеrnational mеasurеs that arе usеd to influеncе thе bеhavior of a country. Thе primary objеctivе of еmbargos is to rеstrict thе importation or еxportation of cеrtain goods, usually in rеsponsе to human rights or sеcurity concеrns. Sanctions arе a morе [...]

What is the Bank Secrecy Act (BSA)? Bank Secrecy Act (BSA) is a United States law. The purpose is to prevent criminals from using banks for money laundering. Banks must provide authorities with records. This occurs when people make suspicious money transactions above $10,000. The law facility authorities' understanding of these transactions. How [...]

What is Money Laundering Through the Football Sector? Recently, football has gone beyond just a sport and become a global sector. With the growing economy of football as a sector, the investment of money into it has also increased, of which some of this investment has criminal connections. The FATF conducted research to [...]

How AI is Used in the AML? Financial institutions are working to improve risk-based approaches for fighting money laundering, with financial crime on the rise. The large amount of data generated by AML compliance and the increasing sophistication of criminal tactics requires the continued exploration of innovative technologies to meet regulatory obligations. Firms [...]

Anti Money Laundering in Uzbekistan Uzbekistan is a Country of Primary Concern regarding money laundering cases. Uzbekistan's efforts to apply anti-money laundering regulations are hampered because of several reasons. These include corruption, a lack of interagency coordination, and vulnerability to political influence. It is difficult to evaluate the advancement of Anti Money Laundering [...]

Anti Money Laundering (AML) in Oman The 2016 International Narcotics Control Strategy Report (INCSR) from the US Department of State classified Oman as a Monitored Jurisdiction (Lower Risk). According to the report, Oman does not provide a serious risk for money laundering or the funding of terrorism, nor is it an offshore or [...]

What is Title Fraud and How Prevent it? Real estate fraud has various forms. One of them is title fraud. It is less common compared to other scams. However, it may result in severe consequences for property owners. This article will provide insight into the nature of title fraud. What is Title Fraud? [...]

What is the Ponzi Scheme and its Relation to Money Laundering? Charles Ponzi is the one that gives the The Ponzi scheme its name. He was a fraudster who told investors that their money would be doubled in ninety days. Even if he was successful in the beginning, the scheme's fast growth in [...]