A politically exposed person or a PEP as they are better known, is someone who has access to public influence or public money, for example a politician. With having this position, it will make that person or persons more susceptible to corruption or other criminal...
Sanctions are political trade tools, mainly put in place against target countries with the aim of maintaining or restoring international peace and security.Their principal purpose is usually to change the behaviour of the target country’s regimes, individuals or groups in a direction which will improve...
A hedge fund is an alternative investment vehicle in which investors contributions are pooled and invested on their behalf in a portfolio of securities, commodity futures contracts or other assets. Hedge funds work either as private investment partnerships or offshore investment corporations and are not...
A Risk Based Approach means companies should identify, assess and understand the money laundering and terrorist financial risk of their customers, this is determined by evaluating each individual customer on their own merit and not using a ruled based approach where all customers are treated...
Customer Due Diligence or CDD, as it is also known as, is the process and procedures companies follow to gather sufficient information on a new customer or existing customer and to assess the risks of doing business with them whether it is at the start...
During the lifespan of a relationship with a customer as an analyst or relationship manager you should always be aware of the following behaviours that indicate a customer might be undertaking money laundering or terrorist financing. We list some of the red flags or indicators to...
In definition, a tax haven is a country or place with very low "effective" rates of taxation for foreign investors. In some traditional definitions, a tax haven also offers financial secrecy. Tax havens do not require businesses to operate out of their country or for...
There are many sanction regimes programme around the world however there are 4 main sanction regimes which regulated industries follow in order to continue to comply with their AML rules and regulations. The main sanction regimes are OFAC, UN, EU and HMT. Let’s take a closer look at each one of them...
… Enforcement Commission (DEC) through its Anti-Money Laundering Investigations Unit has arrested the … Source: AML Latest newsDEC ARRESTS KONKOLA COPPER MINES (KCM) PLC PROVISIONAL LIQUIDATOR MILINGO LUNGU FOR THEFT...
… and consumption. On Malta’s anti-money laundering challenges, Scicluna said all stakeholders … Source: AML Latest newsGDP still expected to reach ‘pre-crisis levels next year’ – Edward Scicluna...
