What is Real Estate Activity Report (REAR)? Real estate agents and brokers licensed in the UAE are required to file the REAR effective from July 1st, 2022. They need...
Transaction monitoring is a key part in the defense against money laundering and financial crime. It is the process of identifying and reviewing anomalous activity and transactions before deciding...
The requirement to undertake transaction monitoring evolved because of anti-money laundering (AML) legislation and its importance has been magnified and reinforced by increased regulatory attention and significant fines. Recently...
Society’s growing reliance on technology to transfer private information has created more opportunities for identity thieves to access and misuse personal data. Cybercriminals are diversifying their targets and using...
Organizations have long relied on partners, suppliers, agents, contractors and various other third-party services for competitive advantage, operational efficiency, and cost savings. However, this increasingly network of third-party relationships...
What is the Difference Between Structuring and Smurfing? Financial crimes, come in a variety of shapes and sizes particularly smurfing and structuring are frequent in the financial service sector....
Cryptocurrency Money Laundering using Virtual Currency Exchanges. According to a 2022 report from the leading blockchain analytics company Chainalysis, criminals laundered $8.6 billion in cryptocurrency in 2021, a 30%...
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...