IF YOU IDENTIFY A MONEY LAUNDERER, DON'T FORGET ABOUT HIS ASSOCIATES

Much has been made of the use American law enforcement agencies, when conducting investigations into criminal organizations, make OF social media and social networking resources. Photographs of gang members and other criminal organizations are culled from social media of friends and family, and after their identification ,using facial recognition software, are placed into an organizational chart that assists law enforcement in building a detailed profile of a criminal group.The identification of previously unknown or unidentified members, as well as asssociates and apprentices or candidates, also occurs. Social media searches, paired with facial recognition propgrams, is extremely helpful in
building a complete picture of a targeted group.

Compliance officers can avail themselves of this technique, to identify possible hidden co-conspirators of money launderers. When a compliance officer has identified a probable money launderer, after facial recognition software exposes his true identitty, and not the one on his CBI passport, a check should be made, using social media resources, for any possible associates. This is done because while you may have identified one financial criminal, he may have partners.

Many money launderers attempt to penetrate a financial institution, using multiple players, so that if one is rejected, at least some of the others are successful in opening accounts, and moving money. You money launderer will show up on social media, at events, holidays, meetings, conferences, family or group outings, and who he is with may supply you with the names and faces of his associates, some of whom have already been able to open accounts at your bank, without being caught in the act.

Always check to see whether someone that you have identified as a bad actor can be linked to anyone else with a new account, or seeking to open one; using social media resources, you can extract their real names and photographs, to run through your facial recognition program. Don't pat yourself on the back, after identifying a financial criminal, until you make sure he did not act with others.