AML case study: How a Beijing university student in Scotland was caught money laundering

Xiaotong Huang, a university student from Beijing, was charged with laundering nearly £85,000 for a Glasgow-based Chinese crime lord and was sentenced to jail for 18 months.

What happened? What were the red flags? And what can we learn from this case?

Read VinciWorks’ case study

VinciWorks’ latest case study goes through the details of the case including what happened, where the money was coming from, how the case was cracked, and what the consequences were for those involved.

The case study includes useful information that all involved in financial services can learn from including:

What we can learn from this case
A guide to how banking works in China
Red flags to look out for in the financial services industry
Risk-mitigation measures that banks can take to avoid getting caught up in financial crime

View the case study

How VinciWorks can help with AML compliance

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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 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.”