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
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.
Click here to learn more.
AML training suite – relevant training for all staff
VinciWorks strives to make its AML training more than simply a tick-box exercise.
Click here to learn more.
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.
