Accounting, Blogpost, Contribution by Norbert Braspenning, Fraud, OECD/BEPS, Regulatory, Tax

Combatting Illicit Financial Flows and Tax Crimes.

First of a series that looks at the enablers of Illicit Financial Flows and Tax Crimes. As tax fraud is becoming increasingly sophisticated and complex, those involved require the services of professional enablers to help them transfer wealth anonymously or launder the proceeds of crime. Who are those people and what drives them, and should face the consequences as much as those they help to carry out tax fraud? Continue reading Combatting Illicit Financial Flows and Tax Crimes.

Blogpost, Contribution by Norbert Braspenning, Fraud, KYC - Compliance, Liquidity Management, Regulatory, Tax, Tax Havens, Treasury

Money laundering as an adventure!

Being rewarded makes us feel good. When exposed to a rewarding stimulus, the brain responds by increasing release of the neurotransmitter dopamine. Deep within we all hope to receive some sort of payoff for the good that we do. Truth be told, in our working life, there is usually no satisfying payoff. However, there seems to be an exemption. According to the US Department of Justice there is one industry that rewards its employees for their hard work, the money laundering industry. It accumulates more money than the electronics industry, the entertainment industry and the pharmaceutical industry combined.

Now you may be thinking, ….. wait! …… money laundering, ….. isn’t that illegal? Minor technicality. However, it is exactly this technicality that leads governments globally to try to suffocate this flourishing industry, whilst others’ strategy is to bypass the defences and become the most successful human beings on earth. Continue reading Money laundering as an adventure!