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Transparency International report on Money Laundering through E-Payments

02 September 2024

Transparency International report on Money Laundering through E-Payments

Transparency International published a new report on Money Laundering through E-Payments from Russia to the UK

 

Key findings and recommendations from data collected over the past decade include:

  • Verified business bank accounts are commonly exploited to conceal large-scale transfers, with the presence of PEPs and complex corporate structures heightening this risk;
  • 18% of all Defence Against Money Laundering (DAML) suspicious activity reports in the UK emerge from the e-payment sector, underscoring its disproportionate vulnerability; and
  • More rigorous legal enforcement and oversight mechanisms are required to address regulatory gaps.

Firms with operations in E-Payments can review the latest Transparency International report as part of remaining informed and reactive to new and ongoing fraud threats and vulnerabilities.
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