What is Trade-Based Money Laundering?

This trade-based money laundering scheme involved shell companies in Mexico and the U.S. and batches of obsolete cell phones, generating more than $100 million in illicit funds. by Dayne Bloxham AdvisX When it comes to identifying suspicious transactional activity, knowing what to look for is half the battle. FinCEN recently highlighted an example [...]

By |2019-06-28T14:39:10+00:00June 28th, 2019|Bank Secrecy Act/Anti-Money Laundering|0 Comments

How SARs Helped Bring Down a Scam Biodiesel Fuel Producer Network

by Ken Agle AdvisX The more front line and BSA personnel understand about the how Suspicious Activity Reporting and Currency Transaction Reports fit into the overall equation of tracking down criminals, terrorists and other bad actors, the more likely it is for a financial institution's BSA program to be effective. Understanding context helps keep BSA [...]

By |2019-06-19T19:02:33+00:00June 19th, 2019|Bank Secrecy Act/Anti-Money Laundering|0 Comments