All countries are subject to money laundering and some terrorist financing. The AML is governed by FATF. If Malawi is not FATF members, no foreign bank will do business with them. CFEs are best placed to determine if fraud has taken place. The process of money laundering, including "smurfing," where small deposits are made to avoid reporting limits for the USA. The money can be placed in over 200 different countries with the USA and their Patriot Act being the most difficult and Yemen and North Korea being the easiest. Many Caribbean economies exist purely for foreigners to bring in cases of USD and easily deposit them in bank accounts. For example, the Ukrainian economy was rated as a "red" country - like Russia by Transparency International. The passport control, police, and traffic cops operate on USD. To repatriate proceeds of crime, it is essential to locate the exact countries the money is in and use systems like DocFox to find the true beneficial owner.

Join us for a very exciting session as we unpack the topic and share more valuable examples.

As far as fraud prevention is concerned, whistleblowing and speaking out are always recommended. However, when no one trusts anyone anymore, what about this recommendation? What to do? Where to start? Where to blow the whistle? Who dares to take the risk when people are afraid of or distrusts the law enforcements? How about speaking out, when the whole system is corrupt; when Politics takes precedence over techniques, when tools and frameworks protecting whistleblowers are almost non-existent? Actually, there is a lot to be said about whistleblowing, but the presentation will focus more on why no one trust anyone? why people don't blow the whistle? And what should be done?