With scams everywhere and on the increase, the main ones can be explored through the lens of the human natures involved. Whilst these scams are carried out most often using cyber means it’s the human elements that remain the key to whether they succeed or fail.  Whilst scammers are unlikely to be pious or religious types, and so are likely unconcerned to learn that they may well be breaching 7 of the 10 Commandments. These are: 1) they worship money and no god, 2) they make idols, from crime, 3) they steal again and again, 4) they bear false witness against their neighbours, by their de ..read more

For those keeping track of countries listed by FATF & the EU both institutions have updated their lists recently with the FATF on 24th February and the EU on 20 December 2022 (see below for the current status – which for the EU came into force for newly added countries just this week on 16th March, 2023). FATF removed Morocco, Cambodia and added Nigeria and South Africa. The EU added The Democratic Republic of the Congo, Gibraltar, Mozambique & the UAE and removed Nicaragua, Pakistan and Zimbabwe. Of added interest, the EU list doesn’t inc ..read more

Following the publication of the FATF 4th Round Review and Report for Kenya, Financial Crime News has updated its Kenya Financial Crime Dashboard last published in February 2022, in its new 2023 format. This new format includes, for example approx 150 data points which have been collected and are represented in the 2 page Financial Crime Dashboard. It informs as to the nature of the financial crime threats, the main vulnerabilities, how resilient Kenya is to these threats and its overall level of response, with more KRI and KPI data than ever before, all from publicly available sources albei ..read more

This United Kingdom Dashboard is in the 2023 format from Financial Crime News, which includes, for example approx 150 data points which have been collected and are represented in the 2 page Financial Crime Dashboard. It informs as to the nature of the financial crime threats, the main vulnerabilities, how resilient the UK is to these threats and its overall level of response, with more KRI and KPI data than ever before, all from publicly available sources albeit assessed and analysed for accuracy and relevance by FCN. For a copy of the 2023 UK Financial Crime Dashboard see HERE: FCN U.K. Da ..read more

Following the publication France’s AML/CTF National Risk Assessment in February 2023, Financial Crime News has updated its France Financial Crime Dashboard. This France Dashboard is in the 2023 format from Financial Crime News, which includes, for example approx 150 data points which have been collected and are represented in the 2 page Financial Crime Dashboard. It informs as to the nature of the financial crime threats, the main  vulnerabilities, how resilient France is to these threats and its overall level of response, with more KRI and KPI data than ever before, all from publicly ..read more

This China Dashboard is in the 2023 format from Financial Crime News, which includes, for example approx 150 data points which have been collected and are represented in the 2 page Financial Crime Dashboard. It informs as to the nature of the financial crime threats, the main  vulnerabilities, how resilient China is to these threats and its overall level of response, with more KRI and KPI data than ever before, all from publicly available sources albeit assessed and analysed for accuracy and relevance by FCN. FCN Country Risk Scores & Ratings: China is rated 29/100 moderate ..read more

The revised and updated Wolfsberg Group CBDDQ V.1.4. and supporting materials were published on the 10th February, 2023. This journey started with the original AML Questionnaire issued in 2004, updated in 2014 and in 2018 (all 3 worked on by the author) and in 2020 and now in 2023. As important is the release of the shorter FCCQ, which is used for non correspondent banks and updates and consolidation of essential completion guidance. Focussing on the CBDDQ, the number of questions increased from 28 to 110 headline questions in 2018. The 2023 Version takes the number of overall headline quest ..read more

Payment Fraud & Scams against Private Persons & Businesses – Focus on UK 1. Introduction: Fraud is probably the most commonly attempted and or experienced crime in the world. Fraud encompasses many activities but at its core involves an attempt to steal, ultimately for financial gain. This includes dishonesty or deception, but under law is frequently a separate offence from theft, with less elements in order to prove and or to convict. Whilst in many cases a “fraud” can be attempted and successfully carried out against a victim without the victims involvement or active knowledge, “s ..read more

Fraud in the UK & the UK Fraud Response over the last 5 decades Fraud has been in existence for more than twenty centuries. This paper summarise the important developments in the response to fraud in the UK over the last 5 decades, as we have moved from the analogue to the digital age, financial fraud has become more prevalent and ever more sophisticated – this ahead of the UK Government’s keenly awaited Fraud Strategy, expected to be published shortly. Since the late 1980s, advances in technology have seen fraud evolve into more complex forms- fro ..read more

It’s hard not to hand the equivalent to the golden globes or OSCARs to sanctions as the top issue in 2022, with cryptocurrency and transparency of beneficial ownership noteworthy concerns and continued focus of attention in the fight against financial crime. As the Russian tanks rolled into Ukraine on the 24th February 2022, resistance from Ukraine and support from the West has halted the advance and appears to be providing the Ukraine with a viable route to take back their lands and push the Russians back from 21st century importance. Whilst huge credit goes to the Ukraine, the support from ..read more