Corruption is the abuse and exploitation of entrusted power for private gain. The increase in income inequalities and crime rates in countries is one of the consequences of corruption.
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During the COVID-19 process, the economic recession has certain effects on Anti-Money Laundering Compliance activities.
Criminals took advantage of the epidemic and targeted people who were fired because of the epidemic to become money mules.
The Anti-Money Laundering function, has now taken on an even more important role in identifying a whole series of anomalies and discrepancies.
In the COVID-19 process of countries, it is critical to implement FATF Standards fully and effectively.
As Sanction Scanner, we have prepared the "Expected Changes in AML After COVID-19" report.
The current covid contingency has created different challenges for the authorities in charge of the fight and prevention of the crimes of ML/FT.
Financial crimes can increase with COVID-19 such as money laundering, counterfeiting, and phishing.