In 2015, more countries become terrorist hotspots; Canada moves up ranks to become 35th in terrorism threat index; US moves up to 17th place

US and Canada move up on the terrorism threat index 2014 and thus far in 2015, have been marked by a dramatic increase in terrorist incidents and in the number of countries that have been pulled into terrorist activity and for which financial institutions have been used for terrorist financing. Western countries are becoming less [...]

The FIFA scandal and why banks may be facing regulatory issues over KYC failures

FIFA Indictment against PEPs The 47-count Indictment against 14 persons employed or engaged by FIFA by the US District Court for the Eastern District of New York (“EDNY“), and their arrest may do more than shake up international soccer – it also has the potential to result in significant fines against many global banks who processed [...]

ISIS confirmed it is sending defectors back home to the West with instructions to commit terrorist acts

ISIS  sending defectors back home According to the popular website “Raqqa is Being Slaughtered Silently” written by people who oppose the Islamic State (“ISIS“) living in ar Raqqa, Syria, a town occupied by ISIS, ISIS is starting a campaign to send defectors back home to places like Canada, the UK, France and the US to [...]

Arrest of the Queen of ISIS sheds light on terrorist financing through Lebanese charities for refugees

According to an article in the Washington Post, the arrest of Saja Hamid al Dulaimi, the ex-wife of the leader of the Islamic State, Abu Bakr al-Baghdadi, has shed light on terrorist financing methods used by ISIS in Lebanon. The Queen of ISIS was arrested in November 2014, attempting to enter Lebanon with her daughter, who [...]

Is the ATM Global Network Unwittingly Used for Terrorist Financing?

We’re pleased to announce that Christine Duhaime is giving a presentation on the issue of “How the ATM Network Globally is Unwittingly Used for Terrorist Financing & Ways to Prevent it” at the 2015 Interac Conference in Ottawa. After a spouse of a member of the Islamic State Tweeted to the world from ar-Raqqah, Syria, [...]

UK keeps its promise to jail officers for non-compliance with money laundering laws – likely world’s first incarceration over AML/CTF regulatory compliance failures

In what may be a world first, a UK Court has jailed the officer and owner of a money services business essentially for failing to comply with regulatory requirements for anti-money laundering and counter-terrorist financing. Paramjit Singh Sangha, who operated a money services business called PS Gold Exchange in England, failed to comply with the [...]

Germany lists ISIS as terrorist group; ISIS planning cyber attack on critical infrastructure

ISIS Listed as Terrorist Group & readies for critical infrastructure attack on West Christine Duhaime, B.A., J.D., Financial Crime and Certified Anti-Money Laundering Specialist Follow @cduhaime On Friday, Germany  listed ISIS as a terrorist organization. The listing bans all activities that support ISIS in Germany, including displaying the organization’s flag. In terms of anti-money laundering [...]

Executive of Canadian renewable company pleads guilty in US to money laundering over renewable energy fraud in first Canadian-related renewable energy fraud case

By Christine Duhaime, BA, JD, Certified Financial Crime & Anti-Money Laundering Compliance Specialist Canadian Company Executives Pleads Guilty to Renewable Energy Money Laundering Conspiracy & Fraud Nathan Stoliar, a prominent Australian executive, has pleaded guilty in the US to several criminal charges including money laundering conspiracy, for selling fraudulent renewable energy credits, similar in some [...]

Canadian court dismisses charges against 3 jobless people over $24 million in unexplained cash they exchanged at MSB

Funnelling $24 million cash in unexplained income through currency exchanges by Christine Duhaime, BA, JD, Certified Financial Crime and Anti-Money Laundering Law Specialist Follow @cduhaime Here’s an interesting story about how a Court dismissed a $24 million money laundering case because, in the Court’s view, the evidence did not prove that three unemployed siblings who [...]

Billionaire banker executed in $2.6B money laundering case and two co-defendants likely in Canada

Billionaire money launderer executed Updated on September 29, 2014 and March 4, 2015 According to the Washington Post, billionaire banker Mahafarid Amir Khosravi was executed today in Tehran for bank fraud and money laundering. He is alleged to have forged letters of credit with the assistance of bank managers from the Melli Bank to start a private [...]