- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Trade-based money laundering is a common technique for funding terrorist activities through seemingly innocuous trade activity that essentially hides criminal transactions in plain sight. And it will take the combined efforts of U.S. Customs, FinCEN, the Department of Commerce, and port authorities (and their counterparts in other countries) to compile ...
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Craft supply giant Hobby Lobby is in hot water for illegally importing historical artifacts. Other collections, including artwork, can also be a big problem for unsuspecting firms.
Image: A government program that grants visas to overseas investors is more popular than ever. The problem: Critics say it is rife with the potential for fraud and money laundering risks. “You can see which way the winds are blowing,” says Eric Berg, special counsel for Foley & Lardner. “The ...
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
