December 2021 3rd Edition

Featured Articles

How to Detect Money Laundering in Vehicle Sales

Anyone involved in automobile sales who fails to identify money laundering may risk large penalties and perhaps criminal prosecution under AML legislation. This includes legal companies, banks, and car dealers—anyone or any entity that trades automobiles or serves as a middleman in their acquisition or sale. . Dealers in Vehicle Sales In terms of AML compliance, dealers can be classified into several groups. Depending on their size and location, they can be categorized as financial institutions, non-financial firms, or high-value

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Time to Target Hezbollah’s Illicit Finance Facilitators

A hack on the group’s official bank yielded a trove of information that the Biden administration could use to implement sanctions. In December 2020, an anonymous group called SpiderZ hacked Hezbollah’s unofficial bank, the U.S.-sanctioned al-Qard al-Hassan (AQAH). The hacked files include account information for nearly 400,000 individuals and entities. In addition

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US sanctions Angolan billionaire Isabel dos Santos for corruption

ICIJ’s 2020 Luanda Leaks investigation revealed how decades of inside deals turned dos Santos, the daughter of Angola’s longtime former ruler, into Africa’s richest woman. The United States sanctioned Angolan billionaire Isabel dos Santos on Wednesday for her involvement in significant corruption, marking the first public U.S. response to years

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