- Anti-Money Laundering (AML) and dismantling terror financing networks by exclusion from the mobile banking system
- The Alleged Threat of Mobile Money
- An important factor within money is micro-structuring also known as “smurfing”
- Further challenges for law enforcement
- The threats of mobile money
The algorithm example used in this report is also called an exemplary embodiment which is simply put, the preferred example. It is just another terminology for “example” but specifically used when referring to a patent. This Anti Money Laundering, AML, system has been chosen to represent how an AML monitoring system should function.
• This can enable and lead to increasing corruption
• Which in turn can enable money laundering through illicit cash flows
• Which then divert and starve funds of developing economies that are already cash poor and suffer from capital-starvation.
The amount of money that is laundered annually is of truly colossal proportions. ML poses an existential threat to all countries. It warrants and demands thorough oversight and a transnational prevention strategy. The UK’s National Crime Agency (NCA) calculated recently, “hundreds of billions of pounds are laundered through UK banks each year.”
Synergy between Crime and Ideology in the Diaspora
“Unwary of the fact that they were funding terrorism, these US victims paid amounts varying between $7,300 and $57,000 to money launderers and recruiters of Boko Haram who reside in the UK.” The Shadow Where Crime Becomes Ideology - Prelude to civil war in Nigeria
Romance may not be in your future with a Boko Haram Match.com member
"What had not been widely reported until 2014 are romance swindles with United States citizens (both male and female) on dating sites. Match.com is the most documented connection to Boko Haram, leading Match.com to warn its users of Nigerians’ frequent use of their site for financial gain" - Victims of online romance scams are funding deadly Nigerian terror group
Between 2003 and 2007 there was evidence of a terrorist connection in the slipstream of 419 fraud networks, supporting terror attacks. In 2008 and 2009 there was evidence directly linking 419 AFF networks to (attempted) terrorism attacks in Abuja.
Evidence is accumulating from 2009 until today, linking 419 AFF to funding and support of both "Movements" as well as "Terror groups". The Nigerian 419 AFF scams have been escalated to a matter of utmost concern!
Profits of Nigerian fraud are skyrocketing for an exponentially growing number of perpetrators of this endemic
After investing in to development, recruitment, new fraud formats and markets for example BEC, Romance scams and Sextortion, profits are flowing in to other crimes, support of politicians, including presidential candidates and terrorism.
We registered an increase of scam activity
A decline in the use of U.K. company bank accounts by 419 scammers. But a steep rise in money mules and victims of Auction, Job and Romance fraud. The National Fraud Authority calculated that 1 in 50 British know someone who has been victim of a romance scam.
There is evidence linking romance scammers with "The global Movement" of "The terror group" Boko Haram in Nigeria.
In 2016 we monitored tens of millions in cash and Cash Cards transferred from the US and Canada to Nigerian Politicians and money launderers in London. Significant amounts were further laundered to Dubai.