HARD

1. MODERN SLAVERY

Human trafficking and modern slavery are growing pre-cursors to money laundering with an estimated 40 million people in modern slavery around the world.1 The UK Modern Slavery Helpline received 3,710 calls in 2017 with 4,886 potential victims indicated.2 Which business type was most commonly reported?

  • Car wash
  • Nail bar

2. ORIGINS

The technique of money laundering was pioneered by ‘the Mob’s Accountant’, who laundered millions of dollars through Las Vegas casinos and later, the Caribbean.3 What was his name?

  • Frank Costello
  • Meyer Lansky

3. DRUGS ON THE DARK WEB

Despite disruptions from law enforcement efforts, drug trafficking over the dark web or crypto web continues to grow. According to the Global Drug Survey,4 how many UK drug users obtained drugs over the dark web in 2018?

  • 1 in 4
  • 1 in 10

4. LEGISLATION

The first legislative measures to tackle money laundering globally included the UN Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances.5 What is this better known as?

  • 1988 Palermo Convention
  • 1988 Vienna Convention

5. CYBERCRIME

The proceeds of cybercrime make up an estimated 8-10 percent of total illegal profits laundered.6 Which bitcoin exchange was shut down by the U.S. authorities in July 2017 and indicted for laundering the proceeds of ransomware attacks and drug trafficking?7

  • Mt. Gox
  • BTC-e

The ‘Money Laundering Exposed’ Initiative

If the UK is to effectively combat the flow of illicit funds, frank and open conversations with those on the frontline are required. LexisNexis® Risk Solutions is creating a platform for these discussions to take place and be shared, through its latest insight initiative – Money Laundering Exposed.

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