Money Laundering In London’s Eyes

Money Laundering through real estate in London is in focus. NPR is reporting that about $200 Billion in real estate is owned by offshore corporations. Offshore corporations could be owned by a complex web of owners, ultimately owned by criminals. With foreign money feeding the real estate markets in major global cities like London and New York, law enforcement is bounding to investigate the compliance procedures taken to ensure the prevention of money laundering through real estate in these markets.


Will Standard Charters’ compliance leadership changes make a difference?


About the Author: M. C. Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses. 



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Cyrus Vance, Jr. Kenote

On Monday, January 26, Associations of Certified Anti-Money Laundering Specialists (hereon ACAMS) held its Third Annual AML Risk Management Conference at The Conrad Hotel in downtown New York. Over the course of this week, summaries and takeaways from the key notes and panel discussions will be shared in this blog.

HeaderCyrus¬†Vance, Jr. is the Manhattan District Attorney in the New York county DA’s Office. He is known for a keen focus on financial crimes and crimes where financial services can aid Law Enforcement.

His keynote enumerated five:

  1. Increase in prosecutions of Auditors and Accountants and their firms.
  2. Payday lenders pose a risk to banks and the DA’s office intends to help banks stay out of trouble made by payday lenders.
  3. Non-financial transactions, like credit card verification for hotel reservations, have helped the DA to verify sex traffickers’ activities.
  4. Homegrown terrorism financing is still a risk and financial services play a crucial role is helping the DA’s office collect evidence.
  5. Cyber crime’s boundaries are not national, therefore, the DA’s office has began information sharing partnerships, beginning with London. Paris is interested.

About the Author: Marcus Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses.
He tweets @MoneyCompliance