International Money Laundering: The Need for ICC Investigative and Adjudicative Jurisdiction

2013 ◽  
Author(s):  
Michael Anderson
Keyword(s):  
Money Laundering ◽  
International Money

China’s dirty laundry – international organizations posing a risk to China’s AML systems

2018 ◽  
Vol 21 (2) ◽  
pp. 189-202 ◽  
Author(s):  
Mohammed Ahmad Naheem
Keyword(s):  
Risk Assessment ◽  
Money Laundering ◽  
International Organizations ◽  
Banking Sector ◽  
Due Diligence ◽  
International Banking ◽  
Content Type ◽  
International Money ◽  
Customer Due Diligence ◽  
Chinese Banking

PurposeThis paper aims to review some of the current challenges that international money laundering schemes are posing in the Chinese banking sector. Anti-money laundering (AML) systems in China are relatively new, and customer due diligence checks and other AML systems are underdeveloped in some areas.Design/methodology/approachThe paper considers a particular case example of a multi-company organization that has known links to China. This company has been the target of both European and US investigations for suspected embezzlement and money laundering, and yet is still in operation.FindingsThe paper considers the complexities of this organization and how a seemly innocent link to a used clothing charity can fund an international organization spanning several countries. The paper offers a list of basic indicators of risk that could be applied to a risk-based system used within the Chinese banking context by using this group as an example.Originality/valueThe paper uses empirical and academic studies from other authors working in this region and supports many of the findings of the need to develop stronger risk-based, as opposed to rules-based, systems for managing AML risk assessment. Previous work by the author and suggestions from other authors are both used to suggest a basic framework for AML risk assessment. The paper concludes by reiterating the fact that China, like all other countries, is now operating in an international banking context, in much the same way that international organized crime is also operating at a global level.

Interactive Multi-View Visualization for Fraud Detection in Mobile Money Transfer Services

2014 ◽  
Vol 6 (4) ◽  
pp. 73-97 ◽  
Author(s):  
Evgenia Novikova ◽  
Igor Kotenko ◽  
Evgenii Fedotov
Keyword(s):  
Money Laundering ◽  
Mobile Money ◽  
Financial Activity ◽  
International Money ◽  
Money Transfer ◽  
Money Transfers ◽  
Fraudulent Activity ◽  
Transfer Services ◽  
Visualization Techniques ◽  
Gain Access

Mobile money transfer services (MMTS) have gained a solid market segment and are widely used for domestic and international money transfers. Like traditional financial systems they can be used to conduct illegal financial activity including money laundering or usage of malicious software to gain access to mobile money. The paper considers an interactive multi-view approach for detection of the fraudulent activity in the MMTS. It considers a set of visualization techniques enabling comprehensive analysis of the behavior of the MMTS subscriber according to his/her transaction activity. The authors suggest a metaphoric visualization of the MMTS users' behavior based on RadViz visualization that is able to identify groups with similar behavior and outliers. They demonstrate how the proposed approach can be used to reveal money laundering scenarios, behavior frauds, present and discuss the results of the efficiency evaluation of the visualization techniques used to detect fraudulent activity.

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