Jeddah: A horrible flood great people

I've just completed my second day of tutoring Saudi's first Certified Anti Money Laundering Officer (CAMO) course and as with all the best courses the delegates are participating and appear to be enjoying themselves.

So like the other participants, I'm starting to relax and in between the discussions on SARs, AML Enterprise Risk Management and an unexpected trip to highly proficient local dentist I'm beginning to form an impression of this large city.

Most of you will recall that Jeddah, apart from being the traditional access to Mecca, recently suffered severe flash floods that that killed over 100, ( the link is to a BBC news site with a brief video clip), during the Haj. Now as you travel the City there is still evidence of the recent damage (real pot holes and the debris left from the flood waters and big big traffic jams).

Nevertheless I've been impressed by the courtesy and helpfulness of the denizens of this city who have been unfailing helpful me. They have gone out of their way to help and to ensure the success of this event and I found myself wondering whether there is a truism here.

Just as in AML it is the people who the critical component for success so it is with cities. You can damage the infrastructure and nature can and will remind you how powerful she is, but in the end, is a city actually just the sum of its people? I'd link to think so.

Azerbaijan: Change for the better. Oh and a Happy Christmas to you all!

Image via Wikipedia

You may recall that, on 12 December, 2008, The Council of Europe AML specialists (MONEYVAL) called "on its member states and other countries to advise their financial institutions to pay special attention by applying enhanced due diligence to transactions with persons and financial institutions from or in Azerbaijan in order to address the ML/FT risks*.

On the 14th December 2009, MONEYVAL stated that Azerbaijan has been upgraded its AML and CFT programmes. It did this by withdrawing it’s advice to pay special attention to transactions emanating from or in anyway involving passing through the country.

Here is a link with slightly more detail: http://www.coe.int/t/dghl/monitoring/moneyval/About/AZE_StatDec09_en.pdf

Well I'm travelling off on my first vist to the Kingdom of Saudi Arabia to tutor a week long AML course so I'll be travelling over Christmas itself.

So let me wish all you readers and contributors a very Merry Christmas (or Season's Greetings according to your faith)and a Prosperous New Year!

I'd welcome your thoughts on "Operation Rize"

Last year the Metropolitan Police undertook a co-ordinated series of raids against three London Safety Deposit Box businesses under the code name "Operation Rize".

I think that this operation may well become a turning point in how, why and where the Proceeds of Crime Act is used in the UK. The link to an excellent article is below.

http://www.dailymail.co.uk/home/moslive/article-1222777/The-raid-rocked-Met-Why-gun-drugs-op-6-717-safety-deposit-boxes-cost-taxpayer-fortune.html

However, before I sound off on the subject, I'd welcome your thoughts on Operation Rize. Was it, from your point of view a success or an overreaction? Was it exactly what POCA was designed to do or was it an abuse of process?

The floor is yours.

Where is the Pan-Am bomber?

The following excerpt is from today's Times of London.

"The Lockerbie bomber restored communications with his Scottish monitors today, but not before some serious questions were raised about the arrangements for keeping watch on a man convicted of killing 270 people."

Where is he? Is he at home? In hospital? Shouldn't he be dead by now?

Where did the time go?

Dear Readers,

Thanks for your patience. Its been a busy last quarter and I've shamefully let the blog slip.

My apologies.

Anyway, were back with lost to discuss, so here goes.

Cheers