Ultrascan Financial Intelligence Unit

A mixture of intelligence gathering, investigations, reputational risk mitigation and Innovative Technology in line of objectives

Purpose

liaison capability, focused on external information collection and stakeholder engagement, which enables us to detect and reduce exposure to financial crime risk.

Impact

Drive the regional development through the provision of clear strategies

Ultrascan FIU Mobile Money Laundering Threats

Introduction to the concept of Anti-Money Laundering

MOBILE MONEY BANKING:

- Anti-Money Laundering (AML) and dismantling terror financing networks by exclusion from the mobile banking system
- The Alleged Threat of Mobile Money
- An important factor within money is micro-structuring also known as “smurfing”
- Further challenges for law enforcement
- The threats of mobile money

Innovative Technology

ELECTRONIC PAYMENT CARD MONEY LAUNDERING DETECTION SYSTEM FOR ELECTRONIC PAYMENT CARDS

The algorithm example used in this report is also called an exemplary embodiment which is simply put, the preferred example. It is just another terminology for “example” but specifically used when referring to a patent. This Anti Money Laundering, AML, system has been chosen to represent how an AML monitoring system should function.

Ultrascan FIU Ingres Egress

Stakeholders

Relationships with senior staff on client-related matters in:

Leadership

Recruit small, expert regional liaison teams that will provide consistent and insightful financial crime related intelligence.

Operational Effectiveness & Control

Identify and recommend best practices identified within the wider liaison peer group

Developing countries and the reforms

Developing countries and the reforms 2019

A fragile institutional environment can lead to heightened corruption:

• This can enable and lead to increasing corruption
• Which in turn can enable money laundering through illicit cash flows
• Which then divert and starve funds of developing economies that are already cash poor and suffer from capital-starvation.

The true cost of money laundering

AML Intelligence Briefing

The amount of money that is laundered annually is of truly colossal proportions. ML poses an existential threat to all countries. It warrants and demands thorough oversight and a transnational prevention strategy. The UK’s National Crime Agency (NCA) calculated recently, “hundreds of billions of pounds are laundered through UK banks each year.”

Money Laundering Centre

Context

The unit is subject to sensitive, and therefore risky, information, exercises sound judgement in protecting it and adheres to all relevant rules and regulations. 

Management of Risk

Risk management and strong leadership by continually reassessing the operational risks.

Observation of Controls

Keep appropriate records and, as necessary, ensure the timely implementation of internal and external audit points, including issues raised by regulators.

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