An Over-The-Counter (OTC) broker is a company or individual that help to facilitate private transactions between two parties that want to trade with virtual currencies, in a higher volume and with more anonymity.
October is the month of Cybersecurity awareness, initiated by the European Union in order to promote cybersecurity among EU citizens. Read our CISO Johan Landströms text about QQAAZZ and get an insight to the world of cyber laundry specialists. The fall of the organised money laundering… Read More »Cyber Laundry Specialists – QQAAZZ
Using Risk Assessment Pro to help a small Bank improve their risk-based approach Introduction JAK Medlemsbank, a small Swedish member’s bank with a targeted product offering took the decision in 2020 to embark on a program to improve and enhance their financial crime processes and… Read More »Case Study – JAK Members Bank
Let’s start with the summary: The 6th EU Anti-Money Laundering Directive poses a potential threat towards EU’s fight against money laundering, terrorist financing and sanction violations. Worrying? Yes. Surprising? Not really. I’ll elaborate more on that below, but let’s start by explaining what a national… Read More »The rise and fall of the national risk assessment
North Korea. Iran. Myanmar. Because it’s easy – Just take the FATF grey list, the EU high-risk third countries and top up with Transparency International’s Corruption Perception Index and we’re home free. Right? Turns out, it’s not that simple. At all. And here is why: … Read More »We all know our high-risk countries, don’t we?
Imagine that you are in a vast forest. It’s getting darker and you have no idea how to find your way back home. Without a map you’ll probably end up even more lost. Best case, you’ll find your way home after a month, stone cold… Read More »The Map: How to create effective Business-wide financial crime risk assessments
During the last years several large-scale money laundering schemes have been exposed. Last year alone brought forth both the greatest tax swindle in the history of Europe.
Financially motivated crimes of today almost always contain IT-related components. As society becomes more digitalized, it is natural that we see this occurrence.
Criminal misuse of legal advisors, economists and real estate agents. Criminals are actively developing more sophisticated and complex methods to launder money.