Placement is the first stage of the three stages of money laundering. At this stage, criminals attempt to enter the ‘dirty’ money into the financial system. This process can be dangerous because large ...

The global illicit drugs trade is estimated to be worth at least half a trillion US dollars each year. Drugs such as cocaine, methamphetamine and heroin generate large revenues all along their supply ...

Two summers ago, Alida, a retiree from Western Maryland, was buying groceries when her card was declined. On the phone, a bank official explained that $10,000 had suspiciously been deposited into her ...

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. In banking, AML (anti-money laundering) describes legally ...

Chinese citizens want to get money out of the country, while criminals are looking to clean illicit funds. They’re both using the same broker. An underground banking network in China has spent the ...

The Enforcement Directorate has now attached assets worth over Rs 1,600 crore in a money-laundering probe involving Raheja Developers.

Oman Customs has introduced detailed guidelines for travelers carrying cash or bearer-negotiable instruments across its borders, strengthening the country’s commitment to combat money laundering and ...

Kenya's gold industry is glittering on the surface but murky underneath. Behind the small pits of artisanal miners and the promise of mineral wealth lies a sector riddled with scams, smuggling, and ...