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Operation Destabilise was an international investigation led by the National Crime Agency which, over the course of three years, uncovered a money laundering ring with ties to criminal organisations in the UK, drug cartels in South America, the Kinahan Organised Crime Group, Russian espionage efforts and sanction avoidance.
National Crime Agency (NCA) [52] – Organised crime intelligence gathering and analysis. Agency utilizes Unexplained wealth orders and the Investigatory Powers Act 2016. [53] [54] NCA officers are posted overseas in around 50 countries. [55] They operate the UK Protected Persons Service, which includes witness protection. [56]
Under the oversight of the German Federal Banking Supervisory Office, banks, financial service providers and others must monitor all financial flows for illegal activity. Germany was the first country to implement an EU guideline against money laundering as well as the recommendations of the Financial Action Task Force on Money Laundering (FATF).
However, despite government efforts to combat money laundering, regulation of banking is still developing. [9] Washington-based Center for Advanced Defense Studies released a report that US sanctioned war profiteers, terror-funders and drug traffickers have been long-using Dubai's real-estate market as a money-laundering haven. [15]
The proposed agency was first publicly announced in a statement to the House of Commons by Theresa May, the then Home Secretary, on 26 July 2010. [10] On 8 June 2011, she declared that the NCA would comprise a number of distinct operational commands: Organised Crime, Border Policing, Economic Crime and the Child Exploitation and Online Protection Centre, and that it would house the National ...
Dubai has been described as "one of the most opaque financial hubs in the world", and one of the most popular destinations for illicit money. [1] According to Brussels Times , the leak revealed "a huge black hole in international anti- money laundering efforts centered [sic] around the Dubai real estate market". [ 4 ]
"Commodities- or trade-based money laundering includes the smuggling of bulk cash and the evasion of federal reporting requirements used to track money laundering with commodities such as diamonds, precious metals, gold, and tobacco." [17] The CIA is most likely to gain awareness of commodities and trade transfers outside the United States.
FinCEN organization chart. As of November 2013, FinCEN employed approximately 340 people, mostly intelligence professionals with expertise in the financial industry, illicit finance, financial intelligence, the AML/CFT (anti-money laundering / combating the financing of terrorism) regulatory regime, computer technology, and enforcement". [9]