Anti-Money Laundering & Counter Terrorism Finance Investigations

"Global money laundering has ballooned - some estimates range between US$590 billion and US$1.5 Trillion…" (FATF)

Crime has become global, and the financial aspects of crime have become more complex, due to rapid advances in technology and the globalization of the financial services industry.

Traditionally, money laundering involves three stages:

• Placement - introducing illicit funds into the financial system;
• Layering - transferring the funds through several transactions and institutions to conceal their source, and obscure the trail; and
• Integration - mixing the dirty money with clean to provide an apparently legitimate source for the funds.

Modern financial systems, in addition to facilitating legitimate commerce, permit criminals to transfer millions of dollars instantly, using personal computers and satellite dishes. Only creativity limits the criminal's choice of money laundering vehicles. Money is laundered through currency exchange houses, stock brokerage houses, gold dealers, casinos, automobile dealership, insurance companies and trading companies. Private banking facilities, offshore banking, shell corporations, free trade zones, wire systems, and trade financing all have the ability to mask illegal activities. In so doing, criminals manipulate financial systems throughout the world.

There is now worldwide recognition that we must deal firmly and effectively with increasingly elusive, well financed, and technologically adept criminals who are determined to use every means available to subvert the financial systems that are the cornerstone of legitimate international commerce. We provide tailored training packages to financial institutions and businesses, both within Australia and internationally.  The packages can be specifically designed for Senior Managers within the entity so as to assist them in the formulation of their policy framework, AML & CTF Compliance or Reporting Officers and counter staff generally. We also assist financial institutions worldwide to conform to the G-7 Financial Action Task Force's 40 recommendations, even if legislation does not exist within their jurisdiction.

Want to know more?  Click here to download a paper.