COMPLEX LAYERING TECHNIQUES CONSTANTLY REFINED BY SOPHISTICATED MONEY LAUNDERERS
March 22nd, 2023
Money launderers continue to develop layering techniques to insert criminal proceeds into legitimate financial transactions, and these typologies are becoming increasingly varied.
‘Cuckoo smurfing’ is one new technique attracting attention, for instance, said a briefing note from Australian FIU Austrac (1). The system involves professional money laundering syndicates working with a corrupt remitter based overseas who accepts a legitimate instruction for a payment to a customer in the target jurisdiction. However, that clean money is swapped for criminal ...
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