4 Biggest Impacts of Terrorism Financing

Terrorism aims to create terror, a feeling of insecurity, and the idea that leaders can no longer protect those they lead. It leaves people stunned and has an emotional impact that lives on through its political implications. 1. Decline in physical and emotional health The impact of terrorism has an impact on the health and...

The 6 Ways That Terrorism Is Financed

How is terrorism financed? A number of channels are likely to pose an increased risk of being misused for terrorism financing. One significant difference between terrorism financing and other crime types, is that most terrorism financing in Australia originates from legitimate sources and activities. 1. Banking and remittance Banking and remittance use bank, interbank and...

The 6 Ways That Money Is Laundered

Criminals use diverse methods to launder money which is the proceeds of crimes such as drug trafficking, terrorist activities, and tax evasion. As with other criminal activity, these methods are used to sidestep regulatory and law enforcement measures and to exploit current and emerging channels. 1. Banking system The major channel for money laundering is...

3 Biggest Impacts of Money Laundering

Introducing illegally obtained funds into the stream of legitimate commerce and finance allows criminals to profit from their illegal activity, undermines the financial system, and erodes public trust. 1. Supports criminal activity When criminals profit from illegal activities, they can invest more money into the black-market economy and enable more crimes to be committed. As...

4 Ways to Identify Potential Money Laundering Activity

There are a range of indicators to help you identify potential money laundering activity, ranging from suspicious customer behaviour, international transactions, larger than normal transactions and suspicious transactions. The presence of a single indicator may not necessarily raise a suspicion but could warrant further monitoring and examination. Multiple indicators are more likely to result in...

The 3 Stages of The Money Laundering Process Explained

The money laundering process involves three stages criminals may use to conceal the source of illicit funds and make funds appear legitimate. Stage 1 - Placement During the placement stage, illegally obtained funds are introduced into the legitimate financial system. Examples: making structured deposits of multiple small amounts of cash into a bank account, so...

The 3 Stages of The Terrorism Financing Cycle Explained

The terrorism financing cycle involves three stages that terrorist organisation may use to support a terrorist network, organisation, or cell. Stage 1 - Raising funds Raising funds is about how funds are raised to support terrorism financing and that can be done via legitimate or criminal activities. Examples: donations self-funding criminal activity. Stage 2 -...

7 Ways to Identify Potential Terrorism Financing Activity?

There are a range of indicators to help you identify potential terrorism financing activity. They are often indistinguishable from money laundering indicators. The presence of a single indicator may not necessarily raise a suspicion but could warrant further monitoring and examination. Multiple indicators are more likely to result in a suspicion being formed. 1. Structured...

6 Ways That Money is Laundered

Criminals use diverse methods to launder money which is the proceeds of crimes such as drug trafficking, terrorist activities, and tax evasion. As with other criminal activity, these methods are used to sidestep regulatory and law enforcement measures and to exploit current and emerging channels. Here are 6 ways that money is laundered: Banking system...