Detecting and Countering Dark Web Money Laundering Risks
January 27, 2021 | 12 pm ET | 1 CAMS | Register Now
Law enforcement agencies around the world are stepping up their efforts to take action against buyers and sellers of illicit drugs, false identification and other illegal activities on dark web global marketplaces. Most recently, 179 people across 6 countries were arrested from the takedown of the seized Wall Street Market. There also have been a number of dark web-related arrests in Canada, including the arrest of a vendor known as “Mr. Hotsauce” who brazenly offered to sell a variety of illegal drugs to customers globally.
So how can financial institutions assist in the detection, prevention and reporting of illicit dark web transactions that may be flowing through their organization?
In this webinar, Joseph Iuso, Executive Director of the Canadian MSB Association and a seasoned Chief Compliance Officer, will share his personal experience in investigating transactions being conducted over the dark web and strategies to unmask criminal enterprises and transactions. Topics that will be covered include:
- Common criminal typologies and indicators of dark web affiliation
- How financial institution can incorporate dark net indicators into AML models
- Technology and strategies to investigate dark web activities
- How to use oversight tools, such KYC, EDD and transaction monitoring, to flag and resolve/report suspicious activities