While the Financial Action Task Force (FATF) breaks down money laundering into various typologies such as the use of real estate, casinos, insurance sector, banking sector, or cash intensive businesses, all of these can be combined and identified as: money laundering techniques involving a series of ‘transfers and purchases’ designed to distance criminals from their illicit funds.
Not Convinced? Read our white paper ‘Defeating Trade Based Money Laundering Using Human Intelligence’ where we redefine it as a series of ‘transfers and purchases’.
Vortex Risk expanded money laundering stages beyond the globally adhered placement, layering, and integration.
These stages are simply far too narrow for effectively mitigating the risks.
At Vortex Risk we have taken our time to understand money laundering. Our unique knowledge powers the Risk Analysis Merging Platform (RAMP) methodology to allow our stakeholders to proactively spot money laundering vulnerabilities and enablers beyond those contained in the regulatory guidelines.
RAMP, in the simplest terms, can be compared to a constantly expanding roadmap of money laundering choices that criminals make to distance themselves from the dirty money. The map highlights steps, actions, tools, services, and parties a criminal might choose to use. It also explains the criminal reasoning behind them, the risks to those involved, and the warning signs beyond what the red flags capture.
Our expertise at Vortex Risk enables our stakeholders to achieve several key objectives:
The co-founders of Vortex Risk are highly accomplished financial crime prevention experts with years of practical experience spanning the public and private sectors.
Both have written extensively on the topic in various publications, evidencing their deep domain understanding that is further backed by their research towards a Professional Doctorate.
Mariola’s career spans software and consulting firms working with banks globally on the best use of technologies to address regulatory compliance demands.
Mariola’s pilot study on the Brexit impact on TBML has been published in the Journal of Money Laundering Controls, featured on the GTR News, and cited by the Institute of Export and International Trade UK.
Mariola has also recently completed her Postgraduate Doctorate research on the use of technologies to help banks mitigate TBML risks.
Nicholas is a former New Zealand FIU senior advisor and international law enforcement professional with expert knowledge of money laundering practices.
Nicholas has been immersed in understanding money laundering and the development of money laundering practices for nearly 30 years.
A published scholar with excellent academic and practical knowledge of money laundering risks and methodologies Nicholas has worked with governments and private sector organisations worldwide to deliver improved results in the areas of financial crime, analysis and information and intelligence sharing.
Recently, Nicholas co-authored the book ‘The War on Dirty Money’ published by Bristol University/Policy Press, a book which critiques the global approach to tackling money laundering and terrorism financing. However, this book was perhaps the first of its kind on the topic – as it provides over 100 practical solutions.
We are seeking further interest from banks keen to see the benefits of our RAMP solution and become trusted partners in transforming how we approach mitigating money laundering risk.