by KEMMAN | Nov 26, 2020 | Financial Crime, Project Eligo, Terrorism Financing
In January 2014 Australia’s biggest money-laundering investigations, Project Eligo seized AUD5.7million (USD5.3million) in cash from a location in Sydney. Investigators believe that money was being laundered through centers in the Middle East and Asia using techniques...
by KEMMAN | Nov 22, 2020 | Conspiracy, Corruption, deceipt, Deception, Financial Crime, Fraud, money laundering
There is a paper entitled “The Devastating impact of Money Laundering and other Economic and Financial Crimes on the Economy of Developing Countries: Nigeria as a Case Study” by Yusuf and Ibrahim from the International Islamic University Malaysia. The paper makes very...
by KEMMAN | Nov 22, 2020 | Compliance, Financial Crime, Terrorism, Terrorism Financing
Banks in Sudanese have started moves to re-establish relations with foreign banks as the United States (US) prepares to remove Sudan from its state sponsor of terrorism (SSOT) list. Bankers and analysts say the process will likely be slow. Restoring international...
by KEMMAN | Nov 21, 2020 | Compliance, Corruption, Financial Crime, money laundering, Terrorism, Terrorism Financing
The late Pablo Escobar, famous for the wrong reasons, was regarded as the richest and most successful criminal in world history. In 1989, Forbes magazine declared Escobar as the seventh (7th) richest man in the world. He had an estimated personal fortune of US$9...
by KEMMAN | Nov 21, 2020 | Corruption, Financial Crime, governance, money laundering
Over the last 30 years, the amount of money laundered has steadily been increasing. The United Nations Office on Drugs and Crime approximately estimated that the amount of money laundered globally in one year is 2 – 5% of global GDP, or $2 trillion in current US...
by KEMMAN | Nov 20, 2020 | Corruption, Financial Crime, money laundering, Traditional leaders
Surprisingly, it is not only in Africa where some Political Leaders want to cling on to power for more than three (3) decades in Office, Asia has had its own share of such leaders. The immense scale of Suharto’s dishonest conduct and greedy behavior of his alleged...
