DX Compliance

12/08/2022

Mike McGowan, a former undercover FBI agent, analyses well-known organized crime scenarios from television shows and movies. He examines the likelihood, skill, and ex*****on of their strategies in "Reservoir Dogs," "The Departed," "Donnie Brasco," "Boardwalk Empire," "The Sopranos," "Goodfellas," "Scarface," "The Irishman," "Billy Bathgate," "True Detective," and "Narcos."

Watch now https://www.youtube.com/watch?v=Tgr7LTRWkLo

Former undercover FBI agent, Mike McGowan, reviews notorious organized crime scenes from movies and television. He deep dives into ‘Reservoir Dogs,’ ‘The Dep...

11/08/2022

The guidance focuses on the risks of money laundering and the financing of terrorism associated with payments and the preventative measures that LFIs should apply to lessen those risks. LFIs should adopt a risk-based approach to mitigate and manage money laundering and the financing of terrorism risks because new payment products and services may expose LFIs.

Learn more https://dxcompliance.com/cbuae-recent-guide-on-risks-relating-to-payments/

We share the CBUAE's recent guide on LFIs of their statutory obligations under the legal and regulatory framework in force in the UAE.

11/08/2022

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A is an essential part of anti-money laundering process to identify hazards starting from the design or establishment phase of the workplace, to identify and analyse risk, to decide on risk control measures, for documentation and to update the work done

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https://dxcompliance.com/checkaml/

10/08/2022

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09/08/2022

The Central Bank of the UAE just released its most recent guide on PEP risk. The latest CBUAE Guidelines are intended to help licensed financial institutions ("LFIs") in the United Arab Emirates comprehend and operate effectively. They also set out the CBUAE's expectations for all LFIs based in the UAE to be able to demonstrate compliance with these requirements.

Learn more https://dxcompliance.com/risks-relating-to-politically-exposed-persons-in-the-uae/

An introduction to The Central Bank of the UAE newest guide on risks relating to Politically Exposed Persons in the UAE.

07/08/2022

The head of Britain's largest-ever money-laundering gang was sentenced to prison after police dismantled a "colossal" criminal organization.

Abdulla Alfalasi, a 47-year-old Emirati man who served as the gang's leader, hired a large number of couriers. In total, between April 2019 and November 2020, they smuggled more than £100 million in dirty money to Dubai.

Read more https://www.theguardian.com/uk-news/2022/jul/28/abdulla-alfalasi-head-colossal-uk-dubai-money-laundering-gang-jailed-for-nine-years

Abdulla Alfalasi smuggled £100m in dirty cash out of UK, with couriers carrying up to £500,000 per suitcase

07/08/2022

If you often find yourself reading about anti-money laundering (AML), you have likely come across the term PEP before. A PEP is an individual who is at higher risk of being involved in financial crime. Continue reading to understand more about a PEP.

Learn more https://dxcompliance.com/what-is-a-politically-exposed-person/

A Politically Exposed Person (PEP) is someone who holds an important political function. Read on to learn more about why PEP matters.

06/08/2022

According to testimony given in court, a hotel employee believed she was participating in a "legitimate business opportunity" when she allowed a fraudster to deposit more than €38,000 in criminal proceeds into her bank account.

Read more https://www.independent.ie/irish-news/courts/money-mule-who-laundered-38000-not-tech-savvy-court-told-41864555.html

A hotel worker who let a fraudster lodge more than €38,000 in crime proceeds into her bank account thought she was taking part in a “legitimate business opportunity,” a court has heard.

06/08/2022

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05/08/2022

Britain is one of the risky places in the world to launder dirty money. The Economist's new short documentary tells you why, and asks whether that's likely to change.

Learn more https://www.youtube.com/watch?v=IcT-byRlKrY

Britain is one of the best places in the world to launder dirty money. Our new film tells you why—and asks whether that's likely to change.00:00 - Welcome to...

03/08/2022

The demand analysis of the global anti-money laundering market size and share revenue was estimated to be worth around USD 2,582.5 million in 2021 and is expected to increase to USD 6,014.7 million by 2028, at a CAGR of roughly 15.7 percent between 2022 and 2028, according to a market research study published by Facts and Factors.

Learn more https://www.globenewswire.com/news-release/2022/08/01/2489716/0/en/Anti-Money-Laundering-Market-Size-to-Hit-6014-7-Million-by-2028-Global-Anti-Money-Laundering-Industry-to-Record-a-15-7-CAGR-2022-2028.html

03/08/2022

Due diligence processes in the UAE's gold trading industry are inadequate, and gold dealers are not required by any AML compliance system to investigate the provenance or transactions of the gold they are purchasing or selling.

https://dxcompliance.com/aml-in-the-gold-industry/

AML in the Gold Industry | Any AML compliance system does not require gold dealers to investigate the provenance or transactions of the gold.