Dirty Gold – EY and Kaloti
It’s a money laundering scandal full of smuggling, criminals, cover ups, and collusion. Here’s the complete (and crazy) story of EY and Kaloti.
Investors come in countless shapes, sizes and levels of risk. And while investment is an integral component of the global economy, it nevertheless carries risk for both investors and investees. In this article, we take a look at what an identity verification and enhanced due diligence process for investors can look like using an automated KYC platform.
Australia is known for it’s wildlife and natural wonders, but it’s also a money laundering sanctuary. Here we cover the biggest Australian money laundering scandal to date.
Money laundering has been around pretty much since money was invented. While governments and international agencies have strived to do more and more to prevent it from happening, there have been some unbelievable cases over the years. It is estimated that approximately $2 trillion is laundered every year, but we wanted to highlight some of the biggest cases of all time.
Money laundering is the process of reintroducing illegally acquired money back into the financial system. All illicit industries, including narcotics, human trafficking and terrorist financing, depend on large-scale money laundering operations.
Money laundering is a practice almost as old time itself. From as early as 2000 BCE, wealthy Chinese merchants would move their profits outside of China, as the government did not support commercial trading. They would then reinvest their smuggled funds into other enterprises, a technique still used today.