The Banque du Liban Special Investigation Commission on Fighting Money Laundering has released its 2007 Annual Report. Should any reader wish to review it (81 pages), please see the URL below.

This week's chapter in "Confessions of a Money Launderer" takes the reader inside what happened the first time I lectured in front of a roomful of suspicious law enforcement officers, explaining how money launderers actually operate, and detailing the tactics they employ. You will get a glimpse not only of the lecture content, but my own emotions as I literally switch sides, from money launderer to financial crime consultant. Chapter 59 is now available on the World-Check homepage.

The high-yield investment scheme Cash Plus Ltd., saddled with a Cease & Desist Order, has reportedly failed to provide requested information to Jamaica's Financial Services Commission, and has not repaid investors, as was promised by 31 March. A solicitor for Cash Plus has advised government regulators that it does not have the funds to commence repayment of principal and interest owed to its investors.

The Financial Crimes Enforcement Network, FinCEN, has updated its guidance on final anti-money laundering programme rules for insurance companies. We list the URL below for your reference.

Perhaps those who are defending the Bolivarian Republic of Venezuela, believing that the United States is preparing to lean on the Chavez regime for purely political purposes, might want to read some of the darker truths about the Venezuelan Government, and its terrorist financing activities in support of the world's most radical and violent global terrorist organisations. If, after reading below, you still think the state sponsor of terrorism charges are only political, then you might want to reconsider.

In response to reader requests regarding our recent article, "FinCEN adds to FATF Concerns on Turkish-occupied Sector of Cyprus," which appeared in World-Check on 23 March, 2007, and where FinCEN advised that offshore financial institutions located in the Turkish-occupied sector of Cyprus have virtually no regulation, we list the offshore banks below. Bear in mind that FinCEN has warned that these banks, having no SWIFT access, must act through banks located in Turkey, which means that you may not be advised of the role of these offshore banks. Requiring the address of the remitter on all wire transfers received from Turkish banks, checking to see if the sender is located in the Turkish-occupied sector of Cyprus, and demanding the identity of the originating bank, if the answer is positive, may lead your compliance staff to one of the banks listed below. I have performed no enquiry on any of the named banks, and therefore cannot render an opinion as to AML/CFT compliance of any entity shown.

We are pleased to announce that the expanded World-Check World Tour returns to Europe in May, with presentations currently being scheduled for London, Brussels, and Luxembourg. Please watch the Events and World Tour web-pages for further details as they are released.

The recent disclosures that the Uranium cache, destined for the FARC, and seized by Colombian law enforcement authorities, appears to have originated in Venezuela begs the question: where else did the covertly-mined Uranium ore go? The answer will not surprise readers who are closely following Iran's illegal nuclear weapons development programme, but the identity of the facilitators is very troubling, because it may signal that another global terrorist organisation, Al-Qaida, was also a recipient of Venezuelan Uranium. Read on.

Daniel Prewett, a convicted fraudster who fleeced investors in Florida whilst conspiring with narcotics trafficking clients and laundering their illegal profits, has been convicted after a jury trial in United States District Court, on drug and money laundering charges. Extradited from Italy, where he had fled to avoid prosecution, Prewett is facing ten years to life in prison for his crimes. It is believed that he hid most of the proceeds of his fraud in Costa Rica. The IRS filed an action against him last year, seeking injunctive relief against Prewett, his companies and associates, to prohibit him from further preparation of fraudulent income tax returns. A court-appointed bankruptcy trustee is seeking recovery of $36m.

Experts engaged by Colombia have verified that a sample of an unknown substance taken near Bogota, and believed to belong to the FARC, has tested positive for Uranium. Colombian media estimates that the hoard may be 30 kilos in size. The source of the Uranium is said to be from both Colombian mines, and also mines in Venezuela. Covert Uranium mining is being conducted by the Chavez regime, - first reported by this writer over four years ago - and overseen by Iranian engineers, which is part of Venezuela's assistance programme in support of global terrorism. The retail price of this nuclear terrorism is understood to be $2.5m-$3m per kilogramme. If you have ever seen the movie "Dirty War," where a crude nuclear weapon is detonated in Central London, you have some idea of the potential of the captured material.