Tigers, white rhinos, leopards, African elephants, and orangutans- seen by many as majestic and charming animals. Many of us admire them and try to capture their beauty with many of these animals at risk of extinction. Unfortunately, not everyone has such pure intentions. Trade in wild animals is becoming an increasingly popular way to launder money.
The charity sector is often called the Tertiary Sector, the volunteer sector, the not-for-profit sector, the community sector or the civic sector. The aim of this sector is to generate social wealth rather than material wealth. Let's analyse it in the context of anti money laundering and compliance.
Over 50 million people suffering and $150 billion in profits. Is the world coping with modern slavery? What steps should you take to improve the reality? Find out what role the financial sector has to play in detecting modern slavery.
What are the main opportunities and threats attached to the digital transformation? Why do banks undergo digital transformation and how it impacts Finance, HR and Business Change functional areas? This article seeks to explore possible answers to those questions. Join us to learn more on this topic as we speak to NatWest Polska Leadership Team.
The fight against financial crime is a key element in maintaining the integrity of financial systems, preventing money laundering, fraud and corruption, and ensuring a fair and transparent global economy. It builds trust in financial institutions and contributes to the overall stability of the global financial ecosystem.
As John Maxwell says, “We all need someone to help us in our pursuit of intentional growth and the right mentor helps you take massive leaps forward.”
In the realm of financial crime prevention, flash mentoring is revolutionizing the way professionals stay informed and prepared. This article explores its transformative impact on skills and strategies in the ongoing battle against financial wrongdoing. Join us to discover the power of flash mentoring in FinCrime.
Whether it's simple conversations, programming, images, music, or even recipes; artificial intelligence (AI), driven by the ability to generate content, is commonly mentioned in a variety of environments. Technology is always evolving, and the current pace of this process can make it hard to keep up with. The multitude of possibilities for the use of artificial intelligence is huge, and the creativity of people enhances it enormously. Check what impact it has on Financial Crime.
In the intricate realm of finance, where money flows across borders and transactions span the globe, the risk of falling victim to scams and encountering money laundering schemes is a constant concern. As financial technologies advance, so do the methods employed by criminals to exploit vulnerabilities. In this article, we'll delve into some of the latest financial scams and methods of money laundering, shedding light on these illicit activities and offering insights on safeguarding your financial interests.
Financial crime prevention shows up off often in financial news but can mean a variety of things as it covers several complex issues. In this article you will find several basic concepts of financial crime which will help one familiarise themselves with the broader issues a bit easier.
In the rapidly evolving world of cryptocurrencies and blockchain technology, Initial Coin Offerings (ICOs) have emerged as a ground-breaking fundraising mechanism, disrupting traditional investment streams. ICOs provide a unique opportunity for projects and start-ups to raise capital by offering digital currencies or tokens to early-stage investors in exchange for established cryptocurrencies or fiat currency. This article aims to provide an in-depth exploration of ICOs, shedding light on their purpose, process, regulatory considerations, risks, and their role in shaping the future of finance.
Dirty money is a documentary series depicting stories of corporate scandals and corruption within the business world. The episode titled “Cartel Bank” tells the story of a global financial institution who didn’t care who they worked with, ignored financial market regulations and took an active part in money laundering.
Cryptocurrencies have become an increasingly popular investment option, with many people seeing the potential for high returns on investment. However, with the development of digital currencies, the number of scams associated with them has also increased. There are many types of cryptocurrency scams, such as fake ICOs, Ponzi schemes, phishing scams, malware scams, and market manipulation. Each of these scams is designed to mislead people into sending their money or cryptocurrencies to scammers. This article will focus on Ponzi schemes.
The evolution of financial services has been a constant and dynamic process, and the introduction of decentralized finance (DeFi) and blockchain technology is the latest chapter in this story. DeFi promises to democratize access to financial services and reduce traditional financial intermediaries, making it possible for anyone to access the same financial services and opportunities as the wealthy and well-connected. This evolution towards DeFi also brings uncertainty and risks in financial crime.
Fight FinCrime Forum has been crowned the winner of the Industry Partnership at the ICA Compliance Awards Europe 2023, recognising their outstanding contribution to combating financial crime and meeting high compliance standards. It is UK’s only awards recognising teams and individuals across the financial crime prevention and regulatory compliance community, designed to recognise the initiatives and achievements of the compliance community over the past 12-18 months.
Since the 2008 financial crisis, financial institutions have been on a mission to rebuild their reputation, navigating through a decade-long period of disruption as the industry continued to transform digitally to keep up with the demands the modern economy. As if the task itself was not challenging enough, they must now also consider expectations and needs of the new generation of banking services users, who are looking for an innovative offering to help them sort their payments and finances instantly, without detriment to safety.
In economics, there is a theory that certain corporations (especially financial ones) are so large that their bankruptcy would have disastrous consequences for the entire economy, not just their sector. Fearing these repercussions, governments are more likely to support them. The concept of "too big to fail" was created long before the Global Financial Crisis in 2008, but the events of 2007-2008 proved that this theory is true.
On December 15th Natwest Subject Matter Experts entered the crowded corridors of Lazarski University for the first time. They were there to meet the students, talk about the subjects they are going to deliver and answer their questions. Broadly speaking, they were there to prepare these energetic and knowledge-thriving students for the lectures.
As per FinCEN the Global environmental crimes is now the third largest illicit activity in the world following the trafficking of drugs and counterfeit goods. Environmental crimes, is estimated to generate between $110 and $281 billion annually in criminal proceeds.
Did you know that Twitter co-founder Jack Dorsey sold his first-ever tweet as an NFT for more than $2.9 million? The Malaysia-based buyer Sina Estavi compared the purchase to buying a Mona Lisa painting. The tweet was bought using the ether cryptocurrency, a rival to bitcoin.
As it’s getting colder outside and more often we stay home this time of the year, I hope you will enjoy the new series at Financial Crime Community of Practice Group. During upcoming weeks, I will present to you an overview of movies and books that are dedicated to money laundering, financial crimes, financial crisis and other topics that are interesting for us regarding where we work.
The fight against financial crime is a key element in maintaining the integrity of financial systems, preventing money laundering, fraud and corruption, and ensuring a fair and transparent global economy. It builds trust in financial institutions and contributes to the overall stability of the global financial ecosystem.