Today’s “Asset Search News Roundup” focuses on two publications by the anti-money laundering bellwether, the Financial Action Task Force.  This roundup too mentions a warning from the FinCEN financial intelligence unit about the potential movement of assets out of Egypt.

• The Financial Action Task Force published various reports at its website last month.  Two of these reports discuss methods individuals sometimes use to secretly transfer or otherwise conceal assets —

  • Money Laundering Using New Payment Methods, dated October 2010
  • Money Laundering Using Trust and Company Service Providers, dated October 2010

• Given the political unrest in Egypt, politically exposed persons from there pose an even greater money laundering risk.  In its February 16, 2011 advisory, FinCEN, (a.k.a. the Financial Crimes Enforcement Network), characterized this laundering risk as “the potential increased movement of assets“.  The February 16th advisory was especially directed toward U.S. financial institutions:

(Click On The Image Above To Enlarge)

Copyright 2011 Fred L. Abrams