In the last one-year, non-fungible tokens (NFTs) have gained popularity between brands as well as consumers. Chainalysis – blockchain data platform tracked NFTs made news for exponential sales from...
As the technology continues to offer endless possibilities, it is likely that the financial criminals will discover new methods to manipulate the financial industry to commit money laundering or...
Money laundering helps illicit organizations by lowering their cost of capital, giving them a competitive advantage over legitimate businesses. When a criminal activity generates substantial profits, the individual or...
Generally, businesses are most useful to money launderers as conduits for tainted funds. Since money launderers usually don’t expropriate assets, they seldom leave evidence of their activity on financial...
Precious metals and stones have been forged into jewelry, artefacts, and currency since the dawn of civilization. The modern trade of precious metals and stones has developed for centuries,...
Money laundering involves filtering income from illegal activities through legitimate transactions, disguising its source and preventing detection by the authorities. Property purchases can be an effective way to launder...
Real Estate Agents and Dealers in precious metals and stones are required to submit Standard Declaration Form from several banks in the UAE to ensure that the DNFBPS has...
ARE YOU KYC AND AML COMPLIANT? The need for KYC and AML compliance has become mandatory to comply with the global and local regulations. Understanding AML vs. KYC can...
The UAE had implemented Anti Money Laundering/Countering the Financing of Terrorism measures as per the Financial Action Task Force (FATF) standards and is taking correct and strict measures that...
Money Laundering Reporting Officer (MLRO) or Anti-Money Laundering Officer (AMLO) is a Compliance professional who oversees the firm’s anti-money laundering/countering the financing of terrorism framework. Who is a Money...