19 January 2023  

Nesting – In a Nutshell

Nesting – In a Nutshell

Nesting is the bank’s misuse of its relationship with correspondent banks, by carrying out transactions for other banks’ customers, when the other bank could be located in a country that is subject to sanctions and embargoes, or rated as a high risk country. Therefore, main correspondent banks around the world avoid dealing with such banks.

#aml #amlcompliance #compliance #marijosamneh #inanutsehllbymj

27 December 2022  

Promotion

 
Now that we are heading to the end  of year, employees are worried about their salary increase, bonus and promotion.

Promotions are directly tied to the company’s culture… Watch out who you promote!!!

#hr #humanresource #culture #leadership 
15 December 2022  

Dormant or Frozen Account

Frozen Accounts
Accounts are considered frozen or dormant when no transactions are carried out for a certain period of time.
After this period, which are determined by the regulator or the institution’s internal policies, the account must be considered frozen or dormant.

Dormancy periods are usually different, depending on the type of account; current accounts, deposit accounts etc.

Risks from dormant accounts are high, due to the possibility of internal fraud, rather than money laundering.

There is the possibility that one of the bank’s employees could be aware of the account, and see an opportunity to take advantage of the dormant account through a fraud scheme.

#compliance #fraud #inanutshellbymj #marijosamneh #amlcompliance 
14 December 2022  

Fraud

How institutions must react to internal or external fraud – In a Nutshell

#fraud #compliance #aml

08 November 2022  

Trade-Based Money Laundering

Trade-Based Money Laundering – In a Nutshell

This video, in collaboration with Arab Bank (Switzerland) Lebanon S.A.L. summarizes the concept of Trade-Based Money Laundering and shows its most common techniques.

#compliance #aml #amlcompliance #marijosamneh #inanutshellbymj
07 November 2022  

Open Door Policy

Open Door Policy – In a Nutshell

This video is in collaboration with Arab Bank (Switzerland) Lebanon.

#hr #humanresources #inanutshellbymj #marijosamneh #leadership