Emerging Trend- Refund & Double Refund (Chargeback) Fraud (2024)
The purpose of this Typology Report is to inform Reporting Entities regarding an emerging trend involving e-commerce identified as “refund fraud” and “double refund (chargeback) fraud”. It aims to assist Reporting Entities in identifying the indicators or observed techniques or trends relating to “refund fraud” and “double refund (chargeback) fraud” and to inform Compliance Officers of observed techniques and trends relating to the overseas merchants that appear to be targeted; .
Emerging Trend- Fraudulent Merchant Settlement (2023)
The purpose of this Typology Report is to inform Reporting Entities regarding an emerging trend identified as “fraudulent merchant or electronic draft capture (EDC) settlements”; and to assist Reporting Entities in identifying the indicators relating to “fraudulent merchant(EDC) settlements”
Illegal Lotteries Typology Project Report
The main aims of this typology exercise is to counter the threat of Illegal Lottery schemes and related money laundering and terrorist financing activities effectively by providing a regional overview, warning signs, and the modus used by perpetrators.
Some selected AML Typologies for the Gaming Sector
Gaming Establishment is globally a growth market and in addition, is a source of entertainment, thus it can be difficult to balance customer experience and AML measures, thus CDD is a struggle.
High Risk Individuals & Businesses: Politically Exposed Persons
Regulated entities are required to monitor risks in the various aspects of their operations; this is especially important as it relates to Money Laundering. This document highlights various individuals and entities (non-exhaustive), which are classified/typified as high risk , in particular, Politically Exposed Persons (PEPs).
Gaming Sector Review & Typologies Identified
This report provides the necessary statistics, nature of transactions and trends reported by the reporting entities of the Gaming Lounge sector for the period January 2020 – December 2023
POCA 101A Breaches
The Proceeds of Crime Act (POCA), section 101A covers critical areas dealing with a prohibition of certain cash transaction in excess of J$1M. The aim of this report is to bring awareness of the implications of conducting cash transactions in excess of one (J$1M) million dollars or its equivalent in any other country.