Global Financial Crime Review

Due Diligence and Preventing the Illicit Use of the Financial System
ACAMS Connection, AFC Challenges, Exclusive, Global Financial Crime Review, Regulatory Initiatives

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The U.S. is one of the leading, most stable and secure economies in the world. As a result, huge numbers of entities want to place their money in U.S. financial institutions (FIs). This includes legitimate individuals and businesses, but it also includes money launderers, fraudsters,...
Anti-Social Forces in Japan: Name screening and Monitoring
AFC Challenges, Aspects of APAC, Global Financial Crime Review, World Digest

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Editor’s note: This is the second part of the "Anti-Social Forces in Japan: Financial Crime Implications" article published in the ACAMS Today June-August 2024 issue. While the boryokudan and junboryokudan members deserve much attention for their activities in the financial crime scene, especially for money...
Money Laundering Organizations and the Use of Counterfeit Chinese Passports
Fraud Alert, Global Financial Crime Review, March – May 2024

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The Homeland Security Investigations (HSI) Cross-Border Financial Crime Center (CBFCC) is alerting U.S. financial institutions (FIs) of the prevalent use of counterfeit Chinese passports by money laundering organizations to facilitate criminal activity. Operating throughout the U.S., Chinese money laundering organizations (CMLOs), including those with suspected...
Battling Financial Crime in the Global Payment System
Global Financial Crime Review, March – May 2024

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The globe has become increasingly connected digitally, and cutting-edge innovations like artificial intelligence (AI) and machine learning have helped fuel this extraordinary rise. Formerly conducted in person, the traditional payment mechanisms were later changed to banks or other third parties assisting customers with seamless transactions....