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AN EPITOME OF THE 4TH ISSUE OF THE BANK’S COMPLIANCE DIGEST
Money Laundering through the Physical Transportation
of Cash
The physical transportation of cash across an international border is one of the oldest and most
basic forms of money laundering. It is an issue that concerns both developing countries with cash
based economies as well as countries with developed and sophisticated financial systems. There
are no cash smuggling methods associated to a greater extent to one form of criminality compared
to another in guise of a criminal activity, and there is no guarantee that criminals committing the
same type of crime will move their proceeds in the same way and by the same route.
We bring to you a
n insightful article detailing more about the challenges for the detection and
control of cross-border transportation of cash.
How widespread is Tax Evasion? The Cost of Round - Tripping: a method investors
use to avoid tax collectors
Around the world, over the past two decades, there has been increasing sensitivity around tax evasion, which has been facilitated by
banks and financial institutions. Due to the severity of the offense of tax evasion, most jurisdictions have introduced legal and regulatory
changes to incorporate tax evasion controls in their anti-money laundering (AML) framework.
Whic
h tax evasion strategy is the most common?
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