Financial Crime Online

Switzerland adopted the ‘ Return of Illegal Assets Act’  a couple of years ago, allegedly in an attempt to shake off it somewhat shady image as financial safe haven for dictators. Mubarak is the next batter up. Yesterday his 30 year reign ended. That same day, his funds in Switzerland were frozen based on the [...]

Given the estimates that half of the proceeds of drug deals by Mexican cartels in the US is smuggled back to Mexico and laundered there, we can (gu)es(s)timate that total turnover is around $ 20 bn a year. It also implies that that the rest, another $ 10 bn annually, remains in the US – [...]