Suspicious Activity Reports: When and How to report?
A Suspicious Activity Report (SAR) is an important piece of information for regulators and legal authorities. It is the report used to warn the authorities about any kind of money laundering or financial crime suspicion caused by a customer or client. The SAR is to be submitted when you ‘know’ and ‘suspect’ that there is a crime.
Should the Crypto Industry be regulated?
In my last few posts I gave a basic run down on what money laundering exactly is and how financial criminals launder money using the placement, layering and integration method. Turns out, money in the form of cash is not the only thing that can be laundered. Money launderers are creative enough to come up with new methods to perpetrate
The Evolution of Proceeds of Crime Act, 2002
AML or Anti-Money Laundering is a very well known concept nowadays. But not many people know more than the fact that it deals with financial crimes. Let's take a look into how the concept of Money laundering and Anti-Money laundering came into existence and the basic concepts attached to it.