So sad to see the horrible earthquake destruction that has befallen Turkey and Syria. The regions were already full of refugees and now there are more and more victims. May God bestow them with Mercy. I know you are all generous but please be careful of disaster relief scammers. Be careful of who you donate to and dont become a victim of fraud.

(FinCEN) took a historic step in support of U.S. government efforts to crack down on illicit finance and enhance transparency by issuing a final rule establishing a beneficial ownership information reporting requirement, pursuant to the bipartisan Corporate Transparency Act (CTA). The rule will require most corporations, limited liability companies, and other entities created in or registered to do business in the United States to report information about their beneficial owners—the persons who ultimately own or control the company, to FinCEN

The CDD Rule has four core requirements. It requires covered financial institutions to establish and maintain written policies and procedures that are reasonably designed to: identify and verify the identity of customers. identify and verify the identity of the beneficial owners of companies opening accounts.

Know Your Customer (KYC) guidelines in financial services require that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship.

The impact of The Vancouver Model has been staggering; an unquantifiable amount of lives have been rendered unable to buy or even rent in Vancouver. Despite the impact of the past on the present, we are looking towards a better, fairer and more successful society, through a comprehensive tackling of the issues that has come from not only financial institutions, but from the casinos themselves, leading to a monumental decrease in this crime.

The Vancouver Model is a tactic developed by money launderers to avoid suspicion of drug trafficking and organized crime. Money launderers need to hide the illegal source of funds in order to carry out their activities, so they always need to turn those funds into a less suspicious asset.

The Financial Action Task Force (FATF) leads global action to tackle money laundering, terrorist and proliferation financing. The FATF researches how money is laundered and terrorism is funded, promotes global standards to mitigate the risks, and assesses whether countries are taking effective action.

Terrorist Financing may involve funds raised from legitimate sources such as personal donations and profits from businesses and charitable organisations, as well as from from criminal sources such as drug trafficking, fraud, smuggling… etc.

An anti-money laundering (AML) compliance program helps businesses, including traditional financial institutions—as well as those entities identified in government regulations, such as money-service businesses and insurance companies—uncover suspicious activity associated with criminal acts, including money laundering and terrorism financing.

Using advanced technology and a variety of data sources, FinCEN links together various financial elements of the crime, helping federal, state and local law enforcement find the missing pieces to the criminal puzzle. Addressing money laundering is a nationwide problem and FinCEN treats it that way.