WIRE TRANSFER FRAUD

REMITTANCE

MONEY-GO-ROUND

Loyal Bank’s Corresponding Bank

XYZ Account ABC Account

Wired

Wire Requisition (Deception) to

ABC 2nd Bank A/C

Common Ownership

ABC Company

XYZ Company

Loyal BankSecond

National Bank

Wire

Information

Wire Information

AFONG & ST. JOHN

AFONG & ST. JOHN

Old LawOFFENCE FACILITATION ACQUISITION,

POSSESSION OR USE

CONCEALING TRANSFERRING

Action Enters/concerned in

Arrangement to facilitate retention etc.

Acquires, possesses or uses

Conceals, disguises, contracts or transfers

Conceals, disguises, converts or transfers

Object Another’s (“A”) Proceeds of Crime (directly or indirectly, wholly or partially

Another’s (“A”) Proceeds of Crime (directly or indirectly, wholly or partially

Another’s (“A”) Proceeds of Crime (directly or indirectly, wholly or partially

His Proceeds Of Crime (directly,

indirectly wholly or partially)

Mental element Knowing or suspecting that A has:- • engaged in crime• benefited from

crime

Knowing that it is. a) Knowing that it

is or having

Reasonable

grounds to suspect

b) To avoid

prosecution or

making of

confiscation order

To avoid persecution or making of confiscation order

OFFENCE FACILITATION ACQUISITION,

POSSESSION OR

USE

ACQUISITION,

POSSESSION OR

USE (SELF)

CONCEALING (SELF)

CONCEALING

Action Enters/concerned in Arrangement to facilitate retention etc.

Acquires, possesses or uses

Acquires, possesses or uses

Conceals, disguises, contracts or transfers

Conceals, disguises, contracts or transfers

Object His or another’s proceeds of crime

Another’s proceeds of crime

(directly or indirectly

Own proceeds of crime (directly or  indirectly)

Own proceeds of crime (directly or  indirectly)

Another’s proceeds of crime (directly or indirectly)

Mental Element

Knowing or suspecting that it facilitates

Knowing or suspecting that it is

(Knowing) (Knowing) Knowing or having reasonable grounds to suspect.

New Law