Money laundering obligations is one of the greatest challenges facing global businesses. Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. The implications are far reaching, event though AML laws cover only a relatively limited number of transactions and criminal behaviours.
Please click here for anti-money laundering jurisdictions from around the globe, plus links to team members who specialise in this area.
Huge fines for Deutsche Bank for money laundering offences
In January 2017, Deutsche Bank received fines amounting to about £506m for failure to prevent money laundering. Read more
Convicted on singles’ day
Yak Yew Chee became the first individual to be convicted in the probe surrounding Malaysian state fund 1MDB.
1MDB: 1 More Dirty Bank?
The 1 Malaysia Development Bank (1MDB) scandal is nothing short of newsworthy, and the meltdown was not going to be anything short of spectacular. Read more
Law No. 4 of 2016 on the Dubai Economic Security Center
New law has a view to furthering such objectives as supporting Dubai’s financial stability, protecting Dubai’s economy and enhancing investor confidence in Dubai. Read more