During a panel session at the Association of Certified Financial Crime Specialist (ACFCS) Conference and Exhibition, panelists like Chief of Counter Threat Finance for the U.S. Special Ops Command, Jim Bischoff, explained that just as national security threats continue to evolve at a rapid rate, the financing of these threats involves requires much more than … Continue reading »
Category Archives: In the Field
Who Owns What Now? Uncovering Beneficial Ownership by Tim Michetti
As I was browsing the internet the other day, I came across this little gem created by the International Consortium of Investigative Journalists: http://www.youtube.com/watch?v=gy2RgjIIZyA It is a short animated clip entitled, “Tax Havens 101: The High Cost of Going Offshore”. The video provides good insight into the world of offshore tax havens, shell corporations, and … Continue reading »
FATCA: Implications for Foreign Financial Institutions and US Persons by Rie Maki
The Foreign Account Tax Compliance Act (FATCA), which comes into effect on July 1 2014, is a new provision intended to combat tax evasion by U.S. citizens using offshore accounts. While advocates have claimed that FATCA could wrest back $100 billion in tax revenue, critics have argued that it is a violation of sovereignty, costs … Continue reading »
AML and the New World Order
As technology continues to advance rapidly and new, innovative forms of currency such as Bitcoin arise, the landscape of counter threat finance and anti-money laundering is constantly changing to meet new demands. During a conference panel on anti-money laundering in the new world order, hosted by the Association for Certified Financial Crimes Specialists (ACFCS), senior … Continue reading »
A Practice in Corruption by Tim Michetti
In July 2013, the Chinese authorities announced an investigation into the business dealings of a British pharmaceutical giant, GlaxoSmithKline (GSK), and detained four senior executives in connection with the investigation. The crime? GSK allegedly funneled money through travel agencies to bribe government officials and doctors (government officials in the Chinese state-run health system) to provide … Continue reading »
