Technology has been key in tackling fraud.
Countries have adopted a wide array of measures involving a proliferation of fraud agencies.
At first glance, these programs might seem attractive. But they suffer from fundamental flaws.
There is a growing trend to import another Americanism into the Canadian anti-money laundering strategy: a whistleblower incentive program that would amount to bounty hunting for violations.
The royal commission needs to report back by August. This is an ambitious timeline.
Crown Resorts has been told to delay opening its Barangaroo casino until NSW regulators decide if it is fit to hold the casino licence.
A closed mobile money kiosk in Harare. Up to 50,000 small agents are affected countrywide.
Tampiwa Mahari/Great Gatsby Photography
Stringent restrictions could stifle innovation among mobile money operators and hinder access to financial services.
Westpac has admitted to more than 23 million breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act.
Last year, men were more likely to report losses to investment fraud, while women were the main target for romance fraud. Overall, men reported higher financial loss.
Justices of the Supreme Court will hear a crucial case on the limits of presidential power.
Three cases just argued in the Supreme Court have the potential to redefine the power of Congress to hold the president accountable.
Vancouver has become a money-laundering haven. Can a public inquiry find solutions?
A public inquiry into money laundering underway in British Columbia holds out hope for reform, but the problems run deep.
The trouble with looking for transactions ‘consistent’ with ‘known’ patterns ‘indicative’ of child exploitation payments to countries with ‘known’ risks is that countless legitimate payments exhibit similar features.
Anti-money laundering rules give the comfort of doing something, but prevent surprisingly little crime.
Westpac is “deeply sorry” and has pledged to spend $18 million over three years tackling the online sexual exploitation of children in the Philippines.
The number one commandment of the anti money laundering law is “Know your customer”. AUSTRAC is alleging Westpac didn’t, and didn’t seem to want to.
Westpac has its Annual General Meeting on December 12. “No doubt, there’ll be some very hard discussions between now and then,” Joshn Frydenberg said.
The government at the weekend piled on more pressure for Westpac heads to roll over the bank’s money laundering scandal, with Treasurer Josh Frydenberg saying the affair had a long way to play out. “These…
A crucial problem with the global approach to anti-money laundering is the emphasis on demonstrating activity rather than results.
Anti-money laundering efforts are based on measuring activity, not results. To cut crime and terrorism, we need a frank conversation about where the system has gone wrong.
The commission chaired by Justice Raymond Zondo has heard shocking testimony on the extent of corruption in government.
Corruption in South Africa became increasingly organised under former President Jacob Zuma.
The New York district attorney dropped a financial fraud investigation of Ivanka Trump, left, and her brother, Donald Jr., right.
The investigations into the financial dealings of Donald Trump and his associates join a growing body of evidence pointing to lax enforcement of certain high-level financial crime.
Searches and arrests across Europe in December 2018.
Working abroad can be a profitable option for members of criminal groups.
Nigeria’s President Muhammadu Buhari at the US-Africa Business Forum in New York in 2016.
There is concern that Nigeria’s attitude towards foreign direct investors may erode inward capital flows.
Tom Moyane has been fired as South Africa’s tax boss on the recommendation of a commission of inquiry.
Sunday Times/Masi Losi
Moyane’s axing ends one of the last vestiges of Zuma’s continued influence in the country’s governance.
Danske Bank is under investigation for money laundering.
Denmark’s biggest financial institution has admitted that around €200 billion of questionable money flowed through its Estonian branch from 2007-15.
Trading for almost 150 years in Switzerland, BSI was brought down by the recklessness of its overseas operations.
The world’s largest financial scandal has toppled a government, threatened a currency, and revealed deeply problematic failings at a buccaneering Swiss bank.