Reverse Money Laundering Reverse money laundering is the process where the money that starts out legitimate and grows “dirty” in its ultimate purpose.Terrorist financing is also often referred to as reverse money laundering as it focuses on utilising legal assets to carry out terrorist activities, which are often in the...
Beneficiary In trust law, a beneficiary is the person or persons who are entitled to the benefit of any trust arrangement. A beneficiary can be a natural or legal person or arrangement. All trusts (other than charitable or statutory permitted non-charitable trusts) are required to have ascertainable beneficiari...
Financial Intelligence Units (FIUs) According to The Egmont Group, the definition of a Financial Intelligence Unit (FIU) is as follows:
Countries should establish a financial intelligence unit (FIU) that serves as a national centre for the receipt and analysis of (a) suspicious transaction reports; and (b) other information relevant ...
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