Posted in Financial Crime

Global Threat Assessment – by John Cusack – Extract: Introduction, Observations & Recommendations

No-one can dispute the existence of large criminal markets generating huge profits for those involved, but which Criminal markets are the largest, which are the fastest growing and which markets are emerging?

Which Countries generate the most in Criminal proceeds and which Countries are likeliest to launder most, from domestic and foreign financial crime proceeds.

Which money laundering methods are the most popular, and which groups benefit the most?

In this Report, estimates are provided to answer all of these questions and more

To Read the Preface to the Global Risk assessment by Sir Iain Lobban former Head UK’s GCHQ click HERE.

To read / download the full Global Threat Assessment, click HERE, and sign up for FCN Premium.

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Posted in Financial Crime

Global Threat Assessment – Watch the Video!

This Video summaries the findings across: crimes, countries, methods and groups and the observations and recommendations from the Global Threat Assessment. Click Below.

Be Patient as the Video Downloads – It may take some time!!

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Posted in Financial Crime

Preface to Global Threat Assessment by Sir Iain Lobban

To read an extract of the GTA, notably the Introduction, Observations & Recommendations from the Global Threat Assessment – Click HERE.

To Read/ Download a copy of the Global Threat Assessment – Click HERE: and/or subscribe to FCN Premium Membership.

To watch the Video Summary of the main findings from the GTA click HERE.

To read what Leading Global Financial Crime Fighters think of the GTA click HERE.

 

Preface to GTA by Sir Iain Lobban

“I came across the following description of Intelligence recently: “Intelligence is the ability to unravel knowledge, but it is also the knowledge itself.” I might go further and say that unless intelligence is actionable, it does not deserve that label. And this is one thing that a keen reader might take away from the Global Threat Assessment-“

This is a highly impressive compendium of information from multiple sources, harvesting a wide range of studies by reputable authorities, generating a comprehensive view of the threats and trends, of the potential scale and ingenious variety of financial crime around the world today.

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Posted in Financial Crime Premium

Global Threat Assessment – By John Cusack – Available Now to Read / Download - Premium

Global Threat Assessment
by John Cusack

Despite the limitations presented in estimating criminal activity designed to be hidden, the results in the Global Threat Assessment present a bleak picture. 

Criminal markets are generating more illicit funds than at any other time in our history, with ever more harmful effects inflicted against every Country, against billions of people and against our increasingly fragile environment.

We are witnessing the transformation of organised crime into very big business, leveraging networks to connect criminal actors, adopting poly criminality, embracing new cyber tools and opportunities afforded by the transformation to digital.

How big, which Countries, by what Methods and by which Gangs, is summarised in this Global Threat Assessment, using over 100 publicly available studies or reports from credible sources, together with personal observations and recommendations from the author.

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Posted in Financial Crime

Book Review – The Global Threat Assessment – From Leading Financial Crime Fighters

No-one can dispute the existence of large criminal markets generating huge profits for those involved, but which Criminal markets are the largest, which are the fastest growing and which markets are emerging?

Which Countries generate the most in Criminal proceeds and which Countries are likeliest to launder most, from domestic and foreign financial crime proceeds?

Which money laundering methods are the most popular, and which groups benefit the most? 

In this Book, estimates are provided to answer all of these questions and more.

To read the Preface to the GTA by sir Iain Lobban, former Head of the UK’s GCHQ click HERE.

To Download / Read a copy of the GTA click HERE.

To watch the video summary of the main findings of the GTA click HERE.

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Posted in Financial Crime

Interview with Stewart McGlynn – Leader of HKMA’s AML Division

In this Interview with the Hong Kong Monetary Authority’s Stewart McGlynn, who leads the Regulators Anti Money Laundering Team, Financial Crime News wanted to know more about HK, the risks and threats, de risking, the recent FATF Report, follow up actions, Regtech, PPP and much more besides. The interview reveals that HK has achieved a lot but also has plans to do more, much of which is exciting and offers the prospects for increased efficiency and effectiveness in fighting financial crime.

FCN: HK is one of the largest and most respected international financial and trading centres, but what attributes do you think are necessary to build and maintain this reputation?

SM: There are several key attributes which overlap to some degree and which can be related directly to anti-money laundering work.

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Posted in Financial Crime

Interview with Leading Recruiters from Sheffield Haworth on the Fighting Financial Crime Market

In this Interview with Helen Tudor and James Strover of recruiter’s Sheffield Haworth, Financial Crime News wanted to know, whether the FCC market was still in growth mode, whether important changes in the market and in expectations of candidates were noticeable, the effects of machines on staffing levels and roles, the effects of all of these on getting hired, staying hired or getting fired, and much more besides. 

1 – FCN: Is Financial Crime Compliance still in growth mode or have we seen the peak?

HT/JS: Combatting Financial Crime continues to be one of the highest risks facing Financial Institutions, and as a result we have certainly seen significant growth, particularly since the financial crises through the first half of this decade.

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Posted in Financial Crime

FCN Issue 3 Published and Access to Premium Content

Issue 3 Financial Crime News & Premium Membership access to Intelligence Briefings/Threat Assessments

Today Issue 3 of FCN’s Quarterly Magazine is published and is available to download. Goto Here

This issue leads on FCN’s own “Global Threat Assessment,” (GTA) which estimates the size and summarises the largest criminal markets, Country exposures, money laundering methods and criminal groups. 

The Global Threat Assessment will be available shortly on Financial Crime News Premium  

Extracts from the GTA and included in this FCN 3 include a Country Threat Assessment on the UK, Money Laundering Methods, such as Securities, Transaction and Virtual Currency Based ML, and extracts from FCN Intelligence Briefings on Islamic State, Illegal Wildlife Trafficking and Illegal Fishing, which are each also available in full to Premium Members.

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Posted in Financial Crime

Spotlight on Caspian – Interview with CEO and Founder Chris Brannigan

FI’s face the challenge of monitoring billions of transactions, identifying potential suspicious activity and then handing these cases over to armies of investigators. With a SAR being filed every 30 seconds Financial Crime News met with Caspian CEO and Founder Chris Brannigan to hear how Caspian can help make a difference.

1. FCN: What can you tell us about your company and your products & services?

CB: At Caspian our area of expertise is in the automated investigation of high volume, complex risk alerts for financial service firms with a fully explained human readable decision. So, we are not in the business of generating alerts for suspicious behaviours in KYC, transaction monitoring or due diligence, many other machine learning companies do that already.

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Posted in Financial Crime

CITES Conference Closes – Japan and EU to do more on Ivory

Last week at the 18th triennial meeting of CITES members, those responsible for regulating the international wildlife trade closed the conference which mostly saw victories for animal welfare. In a previous recent Financial Crime News Post we correctly predicted Giraffes would make it onto Appendix 2 for the first time, that proposals to weaken trade restrictions on Rhino horn would be defeated and African Elephant proposals to increase trade would also be rejected. More good news came with the decision to include Mako Sharks, Giant Guitarfish and Wedgefish on Appendix 2 which will provide much needed protection. 

Another decision to be lauded limits the export of wild African elephants, so that elephants from Botswana, Zimbabwe, Namibia, and South Africa can only be exported to African countries where elephants live or used to live.

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