The Latest FinCrime Central Opinions
AI in AML: Is Artificial Intelligence Revolutionizing Compliance For Real?
Discover how AI in AML and compliance software is transforming financial crime prevention with automation and predictive analytics.
How Electronic Money Institutions (EMIs) Are Misused for Money Laundering
Discover how EMIs are misused for money laundering, including the rental of EMI licenses and methods used to obscure illicit funds.
US Designation of Cartels as Terrorist Organizations Increases Risk of Doing Business in Mexico
Recent US actions targeting cartels in Mexico raise the risks for businesses exposed to criminal organizations. Enhanced sanctions enforcement creates new compliance challenges.
Cover-Up #6: Bank of Cyprus, the EBRD, and the Blessing of Putin and Trump
In this article, whistleblower John Christmas examines the European Bank for Reconstruction and Development's (EBRD) role in protecting Putin-linked money laundering operations through its stake in Bank of Cyprus, and its connections to Trump.
In the Shoes of a Money Launderer: 11 Techniques to Open Bank Accounts Anonymously
Money launderers use synthetic identities, account takeovers, and other techniques to open hundreds of bank accounts without revealing their real identities.
Cover-Up #5: Danske Bank’s Estonian branch, successful whistleblowing, but the wrong people got punished
Danske Bank's Estonia branch was at the center of a massive laundering scheme, linked to Russian and Azerbaijani Laundromats, with connections to high-profile figures like Putin's family and the EBRD.
How FATF Grey Listing Impacts Economies and Why a Warning System Could Be the Solution
FATF grey listing may harm financial inclusion, but a warning system could provide a more balanced path to improving AML/CFT frameworks
Cover-Up #4: Citadele Bank Latvia, Parex Bank’s successor, and the EBRD’s involvement
Citadele Bank was created in 2010 as Parex Bank’s successor, but its financial dealings, secret government guarantees, and ties to past corruption raise concerns about transparency, stability, and political influence.
The Ultimate Guide to KYC Solutions: Build vs. Buy for Banks
KYC solution strategies for banks: build vs. buy, compliance automation, and client onboarding optimization in a rapidly evolving regulatory landscape.
South Africa’s Terror Financing Crisis: The Unchecked Flow of Extremist Funds
South Africa's lax oversight has made it a hotspot for terrorist financing, with groups exploiting financial loopholes to launder millions through informal networks.
Cover-up #3: ABLV Bank, the Latvian government, FinCEN and the EBRD
ABLV Bank played a central role in Latvian Proxy Network money laundering, leading to FinCEN sanctions and global scrutiny of its financial activities. Yet, there is still a long way to go.
Stake.com, a Multi-Billion Dollar Gambling Empire
Stake, a major online casino and sports betting platform, operates under lax regulations in Curaçao. Founded in 2017, it has grown rapidly despite legal uncertainties. With offices in Serbia, Australia, and Cyprus, Stake sponsors numerous sports teams and events, including Everton FC and the UFC. It has endorsements from athletes like Kun Agüero and a $100 million deal with Drake. Co-founder Bijan Tehrani recently bought a $47 million mansion in New York, where Stake is banned.
Cover-Up #2: Ukio Bank Lithuania, Siauliu Bank Lithuania, and the EBRD
EBRD's investments in Baltic banks, including Siauliu and Ukio, highlight concerns over insolvency, hidden state guarantees, money laundering schemes, and governance failures tied to major scandals like the Troika Laundromat.
The Key Warning Signs for an AML Analyst to Escalate from CDD to EDD
Enhanced Due Diligence (EDD) is essential when high-risk jurisdictions, suspicious transactions, or adverse media indicate potential financial crime exposure.
Cover-Up #1: Parex Bank, Latvia, and the EBRD
Latvia’s bailout of Parex Bank masked massive fraud, protecting oligarchs and Putin-linked figures while shifting the burden to taxpayers. The EBRD deal was a deceptive cover-up and many turn a blind eye.
The Hidden Danger of Virtual IBANs: A Money Laundering Nightmare
Virtual IBANs pose serious money laundering risks, enabling criminals to obscure illicit funds. Strong AML controls are essential to mitigate financial crime threats.
