A PEP is defined by many Financial Institutions and Regulators as “…an individual who is or has, at any time, been entrusted with prominent public functions and an immediate family member, or a known close associate, of such a person.”
A Ponzi scheme and an illegal pyramid scheme both use new investors’ money to pay earlier investors. The difference between the two lies in the way each scheme is promoted.
Theft by Agent
Authored by Diphat Tembo-CAMS, Director-Compliance and Prevention Department of the Financial Intelligence Centre-Zambia and Kunda Kalaba-CAMs, CFE, RpT, Managing Partner KEMMAN Financial Crime Risk Compliance and Security Investigative Services. The Corona virus-COVID-19 has infected more than 414,000 individuals globally, and killed over 18,500 people, since being identified in China at the end of 2019,Continue reading “IMPACT OF CORONA VIRUS-COVID-19 ON ANTI-MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM REGIME”
For the past quarter of a Century, I have seen, observed, experienced and dealt with various Financial Crimes on this earth. My first professional assignment entailed ëxamining the practices and procedures of client organizations and facilitating the discovery of all forms of malpractices and giving professional advice to organizations and institutions on ways and meansContinue reading “Devastating Social Impact of Bribery, Corruption, Money Laundering & Financial Crimes”