Laundering the Proceeds of Corruption

The Financial Action Task Force (FATF) has prepared a study, Laundering the Proceeds of Corruption, to show the links between corruption and money laundering. This typology report differs from other such typologies previously produced by the FATF because it draws from publicly available work undertaken by experts. The goal of the project was to better understand corruption, its mechanisms and vulnerabilities, through an AML/CFT lens.


The report identifies key vulnerabilities within the current framework and discusses some of the obstacles to the recovery of corruption. In addition to providing the basis for further examination of related issues, the report will serve as the catalyst for future FATF work in developing guidance or best practices on measures relevant to combating corruption. The FATF will continue to work on issues related to the use of tools in the fight against corruption (also refer to the report on the FATF’s Focus on Corruption).

Stupid fraud tricks

“It’s not uncommon to glamorize fraudsters. They are often clever, charming and cunning. Their schemes are frequently brilliant and breathtakingly bold. Even the words “con artists” used to describe them bestow a degree of respect and admiration for their accomplishments, immoral and illegal though they may be. Not all fraudsters, however, are deserving of our reluctant praise. In fact, for every Frank Abagnale, the master of fraud and false identity portrayed in the film Catch Me If You Can by actor Leonardo DiCaprio, there are myriad examples of bungling, clumsy and downright stupid fraudsters. In fact, the inept ones are more common than the inspired schemers. Nonetheless, they do evoke a certain response from fraud investigators — comic relief.”

(Read the article “Stupid fraud tricks” in the August 2011 issue of CAmagazine online.)