r/moneylaundering

I’m building the rule engine directly off each agency’s published validation documentation — a local validation layer that checks regulatory reports against FinCEN, FINTRAC, and AUSTRAC rules before submission, to cut down on rejections for MSBs filing across jurisdictions.

Planning to eventually release this as a free tool for small MSBs who can’t justify enterprise compliance platform pricing.

A few questions for anyone who’s automated this on the filing side:

1. Do you validate locally before submitting, or send everything through and fix what bounces?

2. How do you track when validation rules change across agencies?

3. Any Excel, Google Sheets, or other tools you think this kind of validator should integrate with? Curious what format or workflow would make things easiest for small MSBs.

RICO case when?

to the people who worked on transactions or payment fraud detection systems ,what information do you think can help or be most useful when deciding to whether aprove,hold,or stop a transaction

the Panama Papers leak in 2016 exposed something most people still don't fully grasp

it wasn't a few corrupt individuals hiding money

it was an entire industry of law firms banks and accountants built as a service for the ultra wealthy

Mossack Fonseca alone helped create over 214000 shell companies

for clients across 200 countries including sitting heads of state

drug traffickers and sanctioned regimes operating for almost 40 years before anyone got a look inside

11.5 trillion dollars is the estimated amount hidden in offshore accounts globally

that is more than the GDP of Germany and Japan combined

sitting in structures designed so it is never taxed never tracked never touched

after the leak less than 0.1 percent of that money was ever recovered by governments

almost no major banker or executive who enabled this system went to prison

a few lower level facilitators took the fall while the system that created the demand kept running

this isn't a bug in the financial system

this is the financial system working exactly as it was designed to work

for the people who built it

For the verification sources in comments

I recently read about a money laundering method related to the football world championship.

Some low profile 19yo, mr B, opened a Telegram group where he gave sports betting advice. 1000 people could join for €500 per person.

This is how I imagine the money would go (it is a very simple explanation compared to real life):

Mr A earns €500.000 with illegal businness;

He orders 1000 people to buy a spot in the Telegram group for €500;

Mr B now earned €500.000 with his Telegram business and pays 50% tax, resulting in €250.000 clean money.

Now my question is how mr A gets his €250.000 back, cause if mr B transfers it to mr A it would raise questions. Or are mr A and mr B the same person? I can't figure it out

Say a tradesman was to employ a apprentice who’s
Sole income was not wholly legal, what arrangement could be made ?

I’ve spent the last 4+ years working across AML, KYC/KYB, fraud prevention, transaction monitoring, investigations, and payment operations, including domestic and cross-border payment systems.
When I first started, I had no idea what recruiters were actually looking for or what the day-to-day work would be like.
If you’re trying to:
Break into AML or compliance
Understand the difference between AML, KYC, fraud, and payment operations
Prepare for interviews
Figure out career progression in this space
Ask me anything. If I know the answer from my experience, I’m happy to help.
Looking forward to the discussion

I'm a cybersec grad from the UK, and I'm looking for entry level roles in aml, fin crime, Blockchain sometime in the future. I understand that market is bad and me not having professional experience is just destroying my chances more. My dream job is to work in Blockchain, hopefully the hype builds back up lol. I am just here seeking advice and thoughts on what you guys think are some possible things I can do or jobs I can look at maybe. I've been looking at all sorts of financial institutions but almost all of them ask for prior internship for an internship role or prior experience for an entry level job, so I'm finding it hard to find a way to get my foot in.

This is an update to my earlier post on the court case on 225M USDT frozen from pig butchering scams, The DOJ's Deals with the Devils https://www.reddit.com/r/moneylaundering/s/PaLq0ostRk

This week:

The US DOJ has agreed to give a majority of $225M in verifiable scam victim's funds to Infiniweb, an illegal Philippine Offshore Gaming Operator (POGO) of the infamous Prince Group. It's official.

https://storage.courtlistener.com/recap/gov.uscourts.dcd.281742/gov.uscourts.dcd.281742.85.0.pdf

The DOJ also agreed to that POGO's move for protective order, to shield The Syndicate

https://storage.courtlistener.com/recap/gov.uscourts.dcd.281742/gov.uscourts.dcd.281742.86.0.pdf

This is second theft. A US government-sanctioned crypto scam.

If the court approves of this deal, the shadowy Infiniweb can now present to banks and financial institutions around the world, look, our money is clean, the US says so. It's judicial money laundering, in a US court, no less.