AML case study: Shelf company in Jersey charged with money laundering–then returns $3.7m in confiscated funds to Kenyan citizens

VinciWorks’ most recent money laundering case study tells the story of a Jersey shelf company that was charged with money laundering and ultimately returned $3.7m in confiscated funds to Kenyan citizens, which was then used for much needed medical funds and pandemic relief.

There is much to be learned from this recent case study, a case which marked the first time Jersey repatriated confiscated assets to Kenya. VinciWorks’ case study about the corruption case explains what happened, how the case was cracked, how the funds were accessed, what the penalties were, and what the red flags in the case were, and points out innovative approaches that were taken in the course of resolving this case.

Read VinciWorks’ case study

The case study can provide valuable lessons for financial and other organisations on how to improve their AML compliance, risk management, due diligence, corporate governance, and ethical practices.

Read the case study

How VinciWorks can help with AML compliance

AML client onboarding solution

Omnitrack, VinciWorks’ AML client onboarding solution enhances both the risk assessment and document collection aspects of client onboarding.

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AML training suite – relevant training for all staff

VinciWorks strives to make its AML training more than simply a tick-box exercise.
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At a glance: AML ongoing monitoring

Automating the ongoing monitoring process can be the key to an effective and successful AML programme. Our one-page guide to ongoing AML monitoring provides a succinct and informative overview of ongoing monitoring including a definition, tips on how to comply with AML ongoing monitoring regulations, and answers the questions of who needs to be checked during ongoing monitoring, when to do CDD reviews, and what has to be recorded during ongoing monitoring.

How VinciWorks can help with anti-bribery

VinciWorks‘ suite of anti-bribery courses brings together gamified learning, personalised content, short bursts of information and refresher training. Our course builders make delivering the most relevant content to each employee easy, while real-life scenarios make the training engaging for the user.

How are you managing your GDPR compliance requirements?

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”