DETECTING AND REPORTING THE ILLICIT FINANCIAL FLOWS TIED TO ORGANISED THEFT GROUPS AND ORGANISED RETAIL CRIME

June advised that Homeland Security Investigations (HSI) and the Association of Certified Anti-Money Laundering Specialists (ACAMS) have formed a partnership and published a report to help combat organised retail crime, the large-scale theft of retail merchandise with the intent to resell items for financial gain, which has become an increased threat to public safety and economy.  This report highlights red flags associated with organised theft groups, including structured deposits and withdrawals, large purchases of stored-value cards, high-dollar wire transfers tied to wholesale companies involved with health and beauty supplies, and large purchases of lighter fluid or heat guns, among others.  The report also serves as a guide for law enforcement investigators and anti-financial crime professionals, outlining how organised theft groups steal and resell retail goods through online marketplaces and front companies and launder an estimated $69 billion in illicit profits through the US financial system and trade-based money laundering schemes each year.

https://www.ice.gov/news/releases/hsi-acams-take-aim-organized-retail-crime

https://www.acams.org/en/organized-retail-crime

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at

https://www.buymeacoffee.com/KoIvM842y

NOTE THAT THE ABOVE LINK IS NOW CORRECTED AND WORKS!

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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