Monthly Archives: August 2011

Measuring money laundering

One of the trickiest things about money laundering is knowing how much of it goes on.  We know it’s a LOT, but with most of those who are required to comply with the Money Laundering Regulations (or their equivalent) working … Continue reading

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What a ready tongue suspicion hath!

In an occasional series, I’d like to introduce you to the most common questions that I am asked during anti-money laundering training.  And one of those that crops up time after time is: “Just what exactly do you mean by … Continue reading

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Should that be the Corruption Perceptions Xedni?

I am reading a book called “Treasure Islands” by Nicholas Shaxson.  It’s about tax havens (or what he prefers to call “secrecy jurisdictions”) and I am really enjoying it – it’s terrifically well-written, and the subject is fascinating.  I’m not … Continue reading

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A gift of a subject

I once stood in front of a group of bank staff to deliver their AML training.  Their MLRO introduced me thus: “Now, I know you all hate AML training, but the law says you’ve got to do it.  So pay … Continue reading

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Anti-money laundering, like every other field, has its own jargon.  And more specifically, it has its own acronyms.  AML is the biggie, of course.  Then we used to have KYC [know your customer], which has morphed into CDD [customer due … Continue reading

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Which law to break? Decisions, decisions…

Although I am not a lawyer, I enjoy the limited exposure I have to the law – it’s like trying to unpick a puzzle, making sure that you have completely understood all the requirements, down to the last sub-clause and … Continue reading

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Getting together with old friends

You know the expression “a tough act to follow”?  Well, soon after he was released from prison, Nick Leeson started appearing on the lecture circuit, and I found myself timetabled to speak just before him at a conference in London. … Continue reading

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To tweet or not to tweet, that is the question

Not too many years ago, I went into an MLRO’s office in London and noticed that he didn’t have a computer.  “We’re not given them,” he explained.  “The secretaries do all the emailing for us.”  Now, I know that’s an … Continue reading

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Stripping the criminal of his assets

It’s something I’ve been following for a while – the debate about whether criminals should be allowed to make money by writing or speaking about their crimes.  An ongoing case in Australia concerns David Hicks, who spent five years as … Continue reading

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And I don’t even like football

A couple of years ago, prompted by a report put out by the FATF, I started including a short session in my AML training on ML through professional football.  I figured that it might grab the attention of younger men, … Continue reading

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