Skip to main content
EU Money Laundering Analysis Offers Lessons for Latin America
"A new report by the European police agency Europol examines why so much suspect financial activity results in so few money laundering prosecutions, and offers recommendations to improve the success rate that contain important lessons for Latin America's anti-money laundering frameworks and investigative bodies.

The report, "From Suspicion to Action – Converting financial information into greater operational impact," details how between 2006 and 2014 the European Union (EU) saw a 70 percent increase in suspicious transaction reports (STRs), the filings of suspicious activity that financial institutions and certain commercial actors are obliged to make to their country's Financial Investigation Unit (FIU).

The STRs, of which there were nearly 1 million across the EU in 2014, form the building blocks of money laundering investigations. Europol acknowledges the impossibility of accurately assessing data that is compiled and used in different ways in different countries. Nevertheless, the police body estimates that an average of just 10 percent of STRs are put to use each year.

The rate of success for investigations that begin with an STR was even lower. From 2010 to 2014, Europol found that just 2.2 percent of the estimated proceeds of crime were provisionally seized or frozen, and only 1.1 percent of criminal profits were ultimately confiscated at the EU level.

View the Report

 

Comments

Popular posts from this blog

Four Ways 3D Printing May Threaten Security
"3D printers already produce everything from prosthetic hands and engine parts to basketball shoes and fancy chocolates. But as with any technological advance, new possibilities come with new perils.​​​​​​​
A new RAND paper, Additive Manufacturing in 2040: Powerful Enabler, Disruptive Threat, explores how 3D printers will affect personal, national, and international security. The paper is part of RAND's Security 2040 initiative, which looks over the horizon to anticipate future threats.
The same technology that might one day custom-print heart valves can just as easily produce gun parts. The same machines that allow astronauts on the international space station to print their own tools might also help a state like North Korea print military or industrial equipment to get around international sanctions...."

The Way of The Gun

Iconic characters from crime fiction's most popular writers reflect on their tools of the trade.



JOE PIKE, BusinessmanGUN: KIMBER CUSTOM II MODEL 1911 .45 ACP“The best semiautomatic combat pistol made. The lowered ejector port, full-length guide rail, beveled magazine well and superb tolerances give outstanding out-of-the-box accuracy and reliability. The big .45 ACP bullet is heavy and slow, but that’s what you want. A lighter, faster bullet will punch through a man, carrying its energy with it. A .45 hollowpoint flattens and dumps its energy into the target like a truck T-boning a Prius. You don’t need to double-tap with the .45. One shot will knock a big man off his feet. LAPD SWAT uses the Kimber. USMC Special Operations Command (Force Recon) uses it. I use it. That’s all you need to know.”WRITER: ROBERT CRAISRead on...

Blood Loss

The Decline of the Serial Killer

By Christopher BeamPosted Wednesday, Jan. 5, 2011, at 6:32 PM ETJeffrey Dahmer
When it came to serial killing, Stephen Griffiths did everything by the book. He targeted prostitutes in the slums of Bradford, a city in Northern England. He chose a unique murder weapon: a crossbow. He claimed to have eaten parts of his victims—two of them cooked, one of them raw. "I'm misanthropic," he told police investigators when he was finally caught in 2010. "I don't have much time for the human race." When he appeared in court, he gave his name as the "crossbow cannibal." It was as if he'd studied up on the art of serial murder. (In fact, he had: Griffiths was a part-time Ph.D. student at Bradford University, where he was studying criminology.) And yet, for all his efforts, he got only one short blurb in the New York Times when he was sentenced last month.Serial killers just aren't the sensation they used to be…