Knowledge & Training

Under the terms of the Brexit Withdrawal Agreement, the EU sanctions regime ceased to apply to the UK at 11 pm on 31st December 2020. From that date, the UK’s new sanctions framework came into effect, the details of which […]

One of the most significant events in the anti-money laundering history of the USA took place with the enactment of the 2020 AML Act (AMLA) on 1 January 2021.  AMLA’s passage was not without obstacles. Congress was forced to override […]

On 1st January 2021, the US Senate passed the Anti-Money Laundering Act 2020 (AMLA). Part of the National Defense Authorization Act for Fiscal Year 2021, the US Anti-Money Laundering Act introduces the most significant reforms to anti-money laundering laws and […]

Canada’s status as the second-largest economy in North America and as a major center for business and finance means it faces significant money laundering risks.  In 2021, the Financial Action Task Force (FATF) provided an update on its assessment of […]

In most global jurisdictions, the Know Your Customer (KYC) process is a foundational component of AML/CFT regulations. KYC requires banks and other financial services providers to establish and verify the identities of their customers in order to assess the money […]

Automating and enhancing AML/KYC compliance for digital assets The Know Your Customer (KYC) process is a fundamental component of anti-money laundering regulations in jurisdictions around the world. However, with the rise of disruptive blockchain technology and increased global use of […]

Cryptocurrencies or crypto-assets have gained a lot of popularity over the past few years. In particular, during the latter part of 2017 market capitalizations for many of the more prominent cryptocurrencies reached all-time highs. Along with their increased popularity, cryptocurrencies […]

In 2016 and 2017, the Panama Papers and Paradise Papers leaks exposed the financial affairs of dozens of multinational companies, politicians, and other high-profile individuals that had been exploiting secretive offshore jurisdictions for decades in order to avoid paying tax […]

Elder financial exploitation: What you need to know An 87-year-old Holocaust survivor is defrauded of his life’s savings in a 6-7 year romance scam. A major drug cartel diversifies its income stream by branching out into timeshare scams targeting seniors. […]

Free Ports, Free Trade Zones and Money Laundering Risks Free ports and free trade zones (FTZ) are special-status areas in which the tax and customs rules that are applicable within the surrounding jurisdiction do not apply. Usually established to stimulate […]

Governments impose sanctions on countries, businesses, or individuals to punish violations of international law. Sanctions are a tool for resolving conflicts by exerting economic and diplomatic pressure on designated targets rather than through military means. Common types of sanctions include […]

For most of 2020, the focus of the media and general public has shifted away from Brexit and towards the Covid-19 pandemic. However, with 2021 just a few months away and the end of the UK’s “transition period” coming into […]