Case Studies
The following cases have principally been drawn from the Typologies Reports published by the FATF during the period 1997 - 2004. These are available from the FATF website www.fatf-gafi.org. Additional cases published by the Egmont Group of Financial Intelligence Units can be obtained from the SOCA website www.soca.gov.uk publications.
Exchange transaction relates to laundered drug money and diamond smuggling
Money transfers
Providers of Electronic Identity Databases
Inclusion on this list does not imply that JMSG endorses the service offered by a particular organisation. However, the list is provided with a view to offering practical help to firms. read more
JMLSG Member Associations
Other regulators
List of regulators in UK offshore jurisdictions. read more
Regulators in FATF Countries
Regulators in FATF Countries read more
Regulators within EU Countries
List of EU regulators read more
Failure of due diligence aids a potentially corrupt PEP
Private banker helps conceal suspects illegal proceeds
Correspondent banking, wire transfers facilitate transactions by shell companies
Charity used to finance terrorism
High account turnover indicates fraud allegedly used to finance terrorist organisation
Front for individual with suspected terrorist links revealed by suspicious transaction report
Simple transactions found to be suspect
Terrorists collect funds from lawful sources
Lawyers, real estate
Lawyers
Accounting firm
Laundering the proceeds of fraud through the diamond market
Silver and gold smuggling
Front companies
Front companies, insurance and bureaux de change
Shell companies and Corporate Service Providers
Shell corporations
Company front - false loans scheme
Criminal funds laundered through payment of insurance premiums
Insurance policies and real estate
Investment of fraudulent funds in the securities market
Criminal cash proceeds placed through margin trading
The derivatives market: a typology
Underground banking activity revealed through large turnover in small business
Alternative remittance systems - supported by import/export activity
Alternative remittance systems laundering cash from the sale of narcotics
Alternative remittance systems use of retail outlets
Bureaux de change
Cross border cash
Payments structured to avoid detection
Use of a bureau de change and bank accounts under false names
Laundering through temporary bank accounts Facts
Use of bank safety deposit boxes
Launderers recruit individuals for the use of their bank account
Wolfsberg Group
Serious Organised Crime Office (SOCA)
Home Office
HM Treasury
Financial Services Authority (FSA)
Financial Action Task Force (FATF)
British Bankers’ Association (BBA)
Bank of England
MLRO Annual Report
This document is intended to be helpful to MLROs but it is not formal guidance by JMLSG. read more
Fighting money laundering and terrorist finance: moving forward over the risk-based approach our sup
Letter to Martin Hall from Philip Robinson: FSA's supervisory expectations in monitoring the risk based approach in the 2006 Guidance. read more
2006 JMLSG Guidance - “Letter of comfort” from FSA
Letter of 10 April (released on 24 April) from Philip Robinson setting out the FSA's approach to supervision in light of the 2006 JMLSG Guidance read more
Euro exemptions limits - March 2006
Exemption limits contained in the UK Money Laundering Regulations 2003 are set out in the European Money Laundering Directive (Council Directive 91/308/EEC of 10 June 1991 as amended by directive 2001/97/EC of 4 December 2001). read more
Money laundering/terrorist financing activities
The techniques used by money launderers constantly evolve to match the sources and volume of funds to be laundered, and the legislative/regulatory/law enforcement environment of the market place in which the money launderers operate. read more