News

Launderers Turning to Foreign Securities Markets: MONEYVAL

Securities are becoming more attractive to money launderers because of the speed of transactions and the large number of high-dollar trades on exchanges with little oversight, a European anti-money laundering watchdog said Tuesday. As global securities markets have grown and become more interlaced, the technology to track and pick out suspicious transactions has not risen in tandem, said MONEYVAL, an organization that releases criminal typologies in concert with the Paris-based Financial Action Task Force, in a 102-page report. Securities areas most vulnerable to money laundering – with prerequisite crimes such as fraud, tax evasion and market manipulation – are wholesale...

TO READ THE FULL STORY