As a break from the normal, much like the precarious current Covid pandemic has placed us in, for this post we will highlight some rather excellent TV viewing available that features money laundering, corruption and financial crime as key themes.
The Cyprus Papers Undercover | Al Jazeera Investigations
Al Jazeera have been producing some rather excellent content recently, particularly in relation to corruption and financial crime. In this episode they delve into the murky world of Cyprus Golden Passports. In a nutshell, if you are (were) keen to invest €2m into Cyprus, you are then able to claim a Cypriot Passport, giving you travel and financial access to the EU. Even more disturbing was how some of the KYC checks performed in relation to the passports were (initially at least) self-certified, or corrupted by the lure of investment.
“Several high-ranking Cypriot officials, politicians, lawyers and real estate developers are implicated in a scheme that allows criminals to buy a European passport using the country’s citizenship through an investment programme, an Al Jazeera investigation has found.”
Cyprus effectively painted itself into a corner, as the scheme added more than 7 billion Euros to the variable Cyprus economy, but attracted the unwanted attention of EU regulators who could see the obvious risks and avenues for abuse.
What makes the Al Jazeera documentary such a notable watch is how it was the final nail in the coffin for the Cypriot Government to suspend the scheme after years of condemnation. Although note how the scheme is only currently “suspended”.
All the Prime Minister’s Men | Al Jazeera Investigations
“An explosive investigation reveals how a criminal gang is colluding with the security forces of Bangladesh and has links to Prime Minister Sheikh Hasina.”
Another excellent piece of reporting from Al Jazeera. A gripping documentary on how deep corruption can run in a developing nation whilst also highlighting the global nature of corruption, with Europe and the Middle East being drawn into the spider web of deceit.
Dirty Money : Dirty Gold (Netflix)
If there ever was a series name that is apt for this post it would be Netflix’s Dirty Money, specifically the episode Dirty Gold. If you ever needed an introduction or reminder why gold is still one, if not the best, tools for money laundering, then Dirty Gold is for you. Dirty Gold superbly manages to capture the high level laundering aspect with the real world destruction gold mining can cause, both to people and the environment. Furthermore it features the mechanisms of how drug money is laundered from the South American drug trade into the USA economy using legitimate & long established companies.
Watch Here: https://www.netflix.com/gb/title/80118100
24 Hours in Police Custody: The Home County Cartel (Channel 4)
The 24 hours in Police Custody series has been running on UK television for over 5 years and features a real ‘nuts and bolts’ insight into the workings of the police. It lets the story and crimes do the talking, rather than self-imposed glossy melodrama and cliff-hangers.
Home County Cartel features a small outfit of UK drug smugglers and their involvement in a £58million drugs cartel, especially the simple (and obvious) mistakes that the cartel made that led to their downfall. One of the most remarkable aspects of the film is the low key and mundane lives the cartel led during their drug importing (using a camper hire company as a front) and the tragic calls they made to family members once they were caught.
Home County Cartel extensively features the Encrochat messaging platform, which we featured in our previous blog “Encrochat: An Introduction”.
From a KYC viewpoint it highlights that even the most random legitimate looking business can be involved in criminal and illegal enterprises.
Watch the episode here: https://www.channel4.com/programmes/24-hours-in-police-custody/on-demand/68464-012 (UK only)
After watching any of the above, if you have concerns regarding your clients, suppliers or business associates, you can reach out to us enq@proximalconsulting.com or here.
Proximal Consulting have over 20 years’ experience in providing KYC enhanced due diligence background reports on individuals and companies on a global basis. Additionally, we offer a complementary range of services including AML training, country risk reports and bespoke investigations.