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Slides FATF Webinar COVID-19 and the The Changing Money Laundering and Terrorist Financing Risk Landscape
- 1. FATFWebinar COVID-19 and The Changing Money Laundering and Terrorist Financing Risk Landscape 30 July 2020 Slides and Poll results
- 2. Daniel Thelesklaf Former Chair (MONEYVAL) and outgoing co-chair of the FATF Risks Trends and Methods Working Group Moderator Chris Collett Deputy CEO Intelligence AUSTRAC (Australia) Panellists Elisa de Anda Madroza Director-General Ministry of Finance and Public Credit (Mexico) Ian Pemberton Criminal Intelligence Officer Financial Crimes Unit Interpol Gilbert Berk Head of Unit Expertise and Stakeholder Management EFECC, Europol
- 3. OTHER/DON'T KNOW ORGANISED CRIME ACTIVITIES (E.G. EXTORTION OR… SELLING FAKE OR STOLEN PERSONAL PROTECTIVE… MISUSE OF GOVERNMENT STIMULUS FUNDS CYBERCRIME ONLINE FRAUD Which COVID-19 related crime do you think has been the most prevalent in your jurisdiction?
- 4. • The FATF published a paper on COVID-19 in May 2020 and is continuing to monitor the situation • The criminal economy has been impacted by COVID-19 and criminal behaviour is changing • Changes in business operations, including associated legitimate financial activity, can help to obscure suspicious money movement but also reveal previously hidden illicit conduct • The risk situation is continuing to evolve
- 5. Case study Advanced payment fraud involving a number of European countries – March 2020 • German company received a down payment amounting to EUR 15m from the federal state • German company contacted a ‘legitimate’ Spanish company’ but the company website had been cloned and recommended an Irish agent. • The agent made arrangements for the delivery with an alleged manufacturer from The Netherlands • The masks were supposed to be handed over on 27 March 2020 in Amsterdam, but did not take place • The race to follow the illicit financial flows began 1. EUR 1.5m 2. EUR 880k 3. 550k destined for Nigeria
Notas do Editor
- Now it happened in Europe. This is in March, after the big wave moved into European side. In middle of March, as a number of countries were going into lockdown due to the COVID outbreak, German health authorities contracted two sales companies in Zurich and Hamburg to procure 15 million Euro worth of face masks. Victim companies got a down payment money from the German federal state, and due to the lack of medical supplies, the buyers tried to get reach out to manufacturers and did most efforts also with following the agent or dealer in Ireland in the hopes of securing the masks. Finally, they found the seller in the Netherland and made an appointment to send those stocks to Germany at the appointed time. In the meantime, the buyer sent deposit 1.5 million euro to Irish account, and on the shipping date, by the urgent request from the seller, also sent almost 1 million euro to the Netherland account under the pretext of securing mask. More than 50 trucks and the police patrols were ready to escort this mass transportation at that time, but in the end nobody showed up but disconnected from the world.