AUSTRAC’s report makes clear that Australia has both highly profitable criminal activity and a wide range of sectors vulnerable to money-laundering abuse. That is a recipe for criminal exploitation.
Articles on Financial Action Task Force
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In being grey listed South Africa joins a list of countries with poor governance. Others are war zones or countries with jihadist terror groupings operating on their land.
South Africa has long been seen as deficient in dealing with terrorism financing.
NatWest and HSBC are restricting customers in their crypto-dealings.
Westpac’s decision to shut down its LitePay money transfer system will hurt people relying on remittances throughout the Pacific region.
Anti-money laundering efforts are based on measuring activity, not results. To cut crime and terrorism, we need a frank conversation about where the system has gone wrong.
The UK is no slouch when it comes to protecting against financial crime. It follows the relevant European directives, which require that banks have sufficient anti-money-laundering controls in place to…
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PhD candidate, Edinburgh Napier University
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Senior Professor and Academic Head of Department: Political Studies and Governance, University of the Free State
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Senior Lecturer in Financial Crime Studies, Charles Sturt University