A very common, though often underreported, form of financial crime is elder fraud. According to Barbara Repa, J.D., there are more than 5 million cases of fraud targeting older adults in the U.S. every year. However, only 1 in 25 cases is reported to law enforcement. There are countless ways to commit elder fraud, but … Continue reading »
Tag Archives: B. Hoops
Interested in learning more about Elderly Fraud?
Check out this ACAMS webinar on December 17! Even sooner, stay tuned for our very own Bonnie Hoops’ article on the subject, which will be posted to our site later this month. Continue reading »
Trade-Based Money Laundering
One method of laundering illicit proceeds is trade-based money laundering (TBML). TBML often involves multiple currencies, over- or under-invoicing, and purchase of goods. The basic premise of a TBML system includes the purchase of a high-value commodity (such as Ford Explorers) with illicit proceeds, and the export of that commodity which will then be sold … Continue reading »
