What is sanctions evasion? The sanctions evasion definition is the circumvention of measures – imposed by regulators – to engage in prohibited activities. In the context of AML, anti money laundering sanctions evasion refers to attempts to circumvent sanction measures imposed by regulatory authorities on specific individuals, institutions, or countries/territories. The various types of sanctions deter
The Silk Road was the foremost darknet market (DNM) in the world. The Silk Road arguably made bitcoin and cryptocurrencies synonymous with money laundering and drug smuggling at that time as blockchain was a relatively unknown technology with a very small payment ecosystem. Launched in 2011, the Silk Road was shut down by the Federal
What is Simplified Due Diligence? The accepted definition of Simplified Due Diligence (abbreviated as SDD, due diligence or due diligence analysis) indicates that it is a simplified level of customer due diligence verification. SDD represents a lower level of due diligence – preceding standard Due Diligence (most often used for low- and medium-risk clients) and
Sodinokibi, also known as ‘Sodin’, ransomware is a type of REvil ransomware. It spread in September 2019 by using a zero-day vulnerability in the servers of Oracle Weblogic. Later, when the vulnerability was fixed, it continued to spread through software installers that have remote desktop servers and other backdoor vulnerabilities; and also by the tools
The source of funds is designed to identify addresses that send funds to blockchain addresses related to criminal activity. Related Articles
Who are Specially Designated Nationals or ‘SDNs’? The Specially Designated Nationals and Blocked Persons List or ‘SDN List’ is a list of individuals or legal entities that is identified by the United States Office of Foreign Assets Control (OFAC) as being terrorists, international criminals or beneficiaries of authoritarian regimes such as Iran and North Korea
In financial regulation, a Suspicious Activity Report (SAR) is a report made by a bank or financial institution about suspicious or potentially suspicious activity. The criteria to decide when a report must be made varies from country to country, but generally is any financial transaction that does not make sense to the financial institution; is
The Swiss Financial Market Supervisory Authority or ‘FINMA’ is Switzerland’s financial regulatory authority overseeing Switzerland’s financial markets and service providers. It is an independent institution – based in Bern – with power over banks, insurance companies, stock exchanges, securities dealers and collective investment schemes. It is responsible for combating money laundering and, where necessary, conducts
