Olena Trofimchuk’s Post

𝗗𝗼𝗲𝘀 𝘁𝗵𝗲 𝗽𝗿𝗼𝗰𝗲𝘀𝘀 𝗼𝗳 𝗳𝗶𝗹𝗶𝗻𝗴 𝗮 𝗦𝘂𝗽𝗶𝗰𝗶𝗼𝘂𝘀 𝗔𝗰𝘁𝗶𝘃𝗶𝘁𝘆 𝗥𝗲𝗽𝗼𝗿𝘁 𝗼𝘃𝗲𝗿𝗵𝘄𝗲𝗹𝗺 𝘆𝗼𝘂? SARs are essential in combating financial crimes, so you need to understand how to file them correctly. SARs are reports filed by financial institutions and certain professionals to flag potentially illegal activities. They play a vital role in preventing money laundering, fraud, and terrorist financing. Understanding SARs and filing them properly are key to safeguarding the financial system. #RADDLLC #FinancialCrimePrevention #SARFiling #Compliance #FinancialIntegrity #Banking #RegulatoryCompliance #AntiMoneyLaundering #FraudPrevention

🚀 The newest edition of CeFPro’s Financial Crime USA Series 2025 is coming! 🚀 Get ready for CeFPro’s Financial Crime USA 2025, where top experts in the field will explore the latest trends, strategies, and regulations in combating financial crime. Join the discussion on AML, fraud prevention, sanctions, and more! Stay ahead of the evolving financial crime landscape and enhance your organization’s defense strategies. 🌐 Register your interest now to be the first to receive updates and secure your spot: https://lnkd.in/ezdpzgN8 Don’t miss your chance to be at the forefront of financial crime prevention in 2025! #FinancialCrime2025 #CeFPro #AML #FraudPrevention #SanctionsCompliance #RiskManagement #FinancialCrime #USA2025 #FinancialServices #RegisterYourInterest

𝗗𝗼𝗲𝘀 𝘁𝗵𝗲 𝗽𝗿𝗼𝗰𝗲𝘀𝘀 𝗼𝗳 𝗳𝗶𝗹𝗶𝗻𝗴 𝗮 𝗦𝘂𝗽𝗶𝗰𝗶𝗼𝘂𝘀 𝗔𝗰𝘁𝗶𝘃𝗶𝘁𝘆 𝗥𝗲𝗽𝗼𝗿𝘁 𝗼𝘃𝗲𝗿𝗵𝘄𝗲𝗹𝗺 𝘆𝗼𝘂? SARs are essential in combating financial crimes, so you need to understand how to file them correctly. SARs are reports filed by financial institutions and certain professionals to flag potentially illegal activities. They play a vital role in preventing money laundering, fraud, and terrorist financing. Understanding SARs and filing them properly are key to safeguarding the financial system. #RADDLLC #FinancialCrimePrevention #SARFiling #Compliance #FinancialIntegrity #Banking #RegulatoryCompliance #AntiMoneyLaundering #FraudPrevention

NEW REPORT ALERT: Nasdaq released its 2024 Global Financial Crime Report, that offers comprehensive research insights to quantify and address global financial crime. It identifies emerging threats, proposes solutions, and advocates for an integrated approach in combating financial criminals. The report was produced by Nasdaq and Verafin  in collaboration with Celent and Oliver Wyman. What's unique about this report is that it also brings "Financial crime is a multi-trillion-dollar problem, but it has been difficult to measure the full size and scale of it,” said Brendan Brothers, Nasdaq’s Executive Vice President, Anti-Financial Crime and co-founder of Verafin Financial crime is a multi-trillion-dollar problem. Last year alone, more than an estimated $3.1 trillion in illicit funds flowed through the global financial system. - $783 Bn in drug trafficking activity - $486 Bn fraud scams and bank fraud schemes - $347 Bn in human trafficking - $11.5 Bn in terrorist financing Glenda Paul (FP)SA Angelique Da Silva Carla Botes #FinancialCrime #OrganisedCrime #MoneyLaundering #ProceedsOfCrime

𝐇𝐨𝐰 𝐈𝐬 𝐌𝐨𝐧𝐞𝐲 𝐋𝐚𝐮𝐧𝐝𝐞𝐫𝐞𝐝? 💸 Money laundering is the process of disguising illegally obtained money to make it appear legitimate. Criminals use this method to integrate “dirty money” into the financial system, funding more illicit activities and damaging economies. The process typically involves three key stages: 1️⃣ 𝐏𝐥𝐚𝐜𝐞𝐦𝐞𝐧𝐭: Introducing the illicit money into the financial system — often through cash deposits, casinos, or businesses that handle high cash volumes. 2️⃣ 𝐋𝐚𝐲𝐞𝐫𝐢𝐧𝐠: Moving the funds through a series of transactions to obscure its origin. This may include wire transfers, offshore accounts, or complex investments. 3️⃣ 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧: The “cleaned” money is reintroduced into the economy, appearing as legitimate earnings from businesses, investments, or property. How Can We Fight It? 🔍 Be vigilant about suspicious financial activities. 🔍 Strengthen anti-money laundering (AML) policies and practices. 🔍 Promote transparency in business and financial dealings. 🔍 Report red flags, like unexplained wealth or overly complex financial arrangements. This Fraud Awareness Week, let’s commit to building awareness and preventing money laundering to protect our economies and communities. #FraudAwarenessWeek #FraudWeek #ACFE #Fraud #MoneyLaundering #AML #FraudPrevention #FraudDetection #StopFraud #Investigation #TransparencyMatters #RiskManagement #FinancialCrime #Ethics #Integrity #FightFraud #ProtectYourBusiness #FraudAwareness #WhistleBlowing #Banking #BankingFrauds #BlackMoney #FinancialFrauds #TerroristFinancing #DarkWeb #ShellCompany #AssetTracing #Funds #CyberCrime #Hawala #Embezzlement

International Fraud Awareness Week is coming to a close, but the fight against check fraud is a ongoing battle. We've compiled resources for banks and credit unions as they look to strengthen their risk mitigation strategy. Get started here >> https://bit.ly/3Ohxdp5 #checkfraud #fraudweek #deposits #checkprocessing #banks #creditunions #paymentsolutions #digitalbanking

On October 26th, National Financial Crime Fighter Day recognizes the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) professionals. Because not all superheroes wear capes. Sometimes, they wear business suits, dresses, or jeans and serve in the back offices of financial institutions. These are the people who protect the United States financial industry. They include law enforcement officers and other government personnel. Congress passed the Banking Secrecy Act (BSA) in 1970 to create better anti-money laundering (AML) efforts and prevent financing of criminal activities. Following the terrorist attacks of September 11, 2001, the BSA was reinforced. Congress introduced the USA PATRIOT Act. Signed on October 26, 2001, it cemented the critical role of BSA and AML professionals. Abrigo™, a leading enterprise risk management solution, founded National Financial Crime Fighter Day on October 26, 2018. #FinancialCrimeFighterDay

Financial institutions are turning to new solutions like Contextual Monitoring to combat trillions of dollars in laundered funds from activities like terrorism, human trafficking, and organized crime. Traditional transaction monitoring often flags false positives and relies too much on human analysis. This article explores how typology-based scorecards, aligned with decision intelligence platforms, can automate risk assessment, detect shell corporations, money mules, phoenixing, controlling minds and improve investigative efficiency through better alert generation and scoring. https://lnkd.in/eH3nMdiR Tom McNally #FinancialCrime #BankingSecurity #Innovation #RiskAssessment

🚨 Egmont Group 2024 Report Alert! 🚨 I’ve just shared an insightful document on the Egmont Group’s 2024 Public Report detailing the role of FIUs (Financial Intelligence Units) in national risk assessments for financial crime prevention. 📄✅ 💡 Whether you’re preparing for an interview or enhancing your AML/CFT skills, this report is a must-read to understand how FIUs contribute to identifying risks, guiding policy, and coordinating efforts to combat money laundering and terrorist financing. #FIU #EgmontGroup #AML #CFT #RiskAssessment #Compliance #FinancialCrime #FinancialIntelligence #DueDiligence #RegulatoryCompliance #AntiMoneyLaundering #TerrorismFinancing #FinancialServices #RiskManagement #PublicReport #NationalRiskAssessment Download now directly from my LinkedIn and dive into the detailed notes! 🔍📊 🚨 Join the FinCrime Network! 🌍 Connect with financial crime analysts, share resources, and grow together. No spam, no promotions—just pure value! 💡 https://lnkd.in/dbrwDAu2