Tweet 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 […]
Tweet Consensus on Supranational Risk Assessment As part of the 4th Anti-Money Laundering Directive approval process in the European Union (the “4th AMLD“), the Council of the European Union’s President yesterday issued declarations and proposals for the regulation of anonymous financial transactions that are transacted on new fintech products. The communication from the President included […]
Tweet Money Laundering Bulletin in the UK has a good article out today on the anti-corruption drive in China and its impact on the casinos in Macau, which explores the anti-money laundering lapses and lack of legislation in the gambling industry in Macau, and the corresponding increase of trade-based money laundering in China. Trade-based money laundering […]
Tweet Fourth banks closes remittances businesses Another bank in Australia, the Westpac Bank, has announced it will close its remittance business division next week over the difficulty of complying with counter-terrorism laws. By de-risking and closing its remittance division, the Bank is terminating the bank accounts of all of its business customers who operate money […]
Tweet 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, […]
Tweet Expectation of privacy In an odd decision out of Canada, a provincial level Supreme Court has ruled that a violent offender gambling at a public casino has an expectation of privacy when using his cellular phone to text despite the fact that gamblers are notified of being under surveillance when entering casinos. The decision […]
Tweet New Anti-Terrorism Measures The Government of Canada released its proposed new anti-terrorism legislation today, entitled the Protection of Canada From Terrorists Act, Bill C-44 (the “PCFT“). The material part of the PCTF amends the Canadian Security Intelligence Service Act and is quite short. It does as follows: Clarifies that the Canadian Security Intelligence Service (“CSIS“) has […]
Tweet Arab Bank case changes anti-money laundering law In a weird twist of law, our global anti-money laundering laws that were designed to bankrupt terrorist organizations, and prevent the flow of illicit funds, may bankrupt many of our banks instead. Early this week, in Linde v. Arab Bank, the Arab Bank was found liable in a […]
Tweet US cross-border drug strategy to cover new ground in British Columbia Let’s Talk Bitcoin has an interesting article here on the US drug initiative to reduce the cross-border drug trade between Canada and the US with a focus on targeting the use of Bitcoin and other digital currencies for laundering proceeds of crime. The […]
Tweet The New York Department of Financial Services (“NYDFS“) has announced that it has entered into a settlement with the advisory firm of PricewaterhouseCoopers Regulatory Advisory Services (“PwC“) over anti-money laundering and sanctions compliance advice it provided to the Bank of Tokyo Mitsubishi (“Bank of Tokyo“). PwC is suspended for two years from accepting consulting […]