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  •   Shell Companies

  Archived Webinar

A Risk-based Approach to Sanctions Compliance

Originally Presented: July 27, 2022

An effective sanctions screening program that meets the growing complexities of sanctions compliance is essential for financial institutions. Relying on legacy and disparate systems across... 

  Infographic

Sanctions Evasion

Amid the ongoing Russian invasion of Ukraine, financial institutions are facing considerable challenges as bad actors employ tactics and schemes for sanctions evasion. With industry... 

  Blog

Managing the Growing Complexities of Sanctions Risk

May 9, 2022 by Verafin

The Russian invasion of Ukraine and the subsequent escalation of the Russian-Ukrainian war has been met with condemnation and resulted in severe economic sanctions from governments across the globe. Sanctions are crucial to enforce foreign policy objectives and deter criminal... 

  Blog

Beneficial Ownership: 5 Key Compliance Obligations

August 14, 2017 by Verafin

For many years, financial crime investigators have warned of possible links between shell companies and international money laundering activity. In the 2013 report How Shell Companies Aid Terrorism, Crime and Corruption, the Open Society Foundations discussed how shell companies are used to launder billions... 

  Blog

U.S. Court Case: 9 Banks and 50 Bank Accounts Exploited by Human Trafficking Ring

February 21, 2017 by Denise Hutchings

“Follow the money and you will find the trafficker… Financial investigation plays a crucial role in successful investigation of trafficking in persons.” An outstanding financial investigation which was conducted in the recent prosecution of a U.S. based human trafficking ring... 

  Blog

U.S. Wire Fraud Case: Multiple Companies and Multiple Banks Exploited

October 10, 2016 by Denise Hutchings

Wire fraud that emanates from the combination of identity theft and email compromise has skyrocketed to an escalated threat level in the class of evolving cybercrimes which exploit both financial institutions and their customers. To help shine a spotlight on... 

  Blog

Thousands of Human Trafficking Arrests in the U.S. Plus Recent Money Flow to Human Smuggling Hubs

April 5, 2016 by Denise Hutchings

“Human trafficking is not a problem that law enforcement can tackle alone. It requires the close collaboration with many concerned groups looking at this crime through different lenses.” (Manhattan District Attorney Cyrus Vance Jr.) Manhattan District Attorney Cyrus Vance advocates... 

  Blog

58 Red Flags for Terrorist Financing

May 26, 2015 by Denise Hutchings

“Simply by using standard anti-money laundering typologies financial institutions should have been able to identify fourteen instances of terrorism financing as being suspicious, though not on their face to raise suspicion of terrorism financing.” Numerous Terrorism Financing Cases Reveal Suspicious...