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Insolvency practitioners must not act in haste, lest they repent at leisure
Companies fail for all sorts of reasons, often due to commercial mischance but sometimes after deliberate mismanagement by directors seeking to profit at the expense of creditors. Insolvency practitioners should proceed carefully, therefore, says..
Online Published Date:
02 March 2015
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221 - 02 March 2015
What’s wrong with AML?
Consensus exists on the threat that money laundering poses to society but breaks down over the best way to address it. Alan Osborn talks to constructive critics of the current AML model.
Nobody has yet made a wholly compelling claim that for..
Online Published Date:
02 March 2015
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221 - 02 March 2015
He’s watching for a sign: working effectively with a Corporate Compliance Monitor
The firm’s in trouble but can avoid criminal sanction by mending its ways under the watchful eye of a ‘corporate probation officer’. Nigel Coles of Exiger, which was formed to monitor HSBC’s compliance with its deferred..
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02 March 2015
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221 - 02 March 2015
Protected disclosers – a limit on civil liability for suspicion
Banks in the UK will no longer face the threat of civil action for losses incurred by customers whose transactions are disrupted while waiting for a decision on a consent SAR made in good faith if amendments to the Proceeds of Crime Act become law...
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02 March 2015
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221 - 02 March 2015
Isthmus and nexus – the misfortune of Central America
Pincered between supply and demand sides of the drugs trade, Central American states cannot escape involvement at some level and this extends to laundering the proceeds, finds Pacifica Goddard.
Mexico, South America, and the United States..
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02 March 2015
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221 - 02 March 2015
HSBC private bank helped clients evade tax, others faced serious criminal allegations, leaked files show
HSBC assisted customers of its private bank in Switzerland to evade millions of dollars in taxes due in their home jurisdictions according to leaked documents covering the period 2005–2007. The records reveal how individuals accused of drug..
Online Published Date:
02 March 2015
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221 - 02 March 2015
EU sanctions update - Russia
On 16 February the European Union expanded the list of parties subject to sanctions over the conflict in Ukraine. Susannah Cogman of Herbert Smith Freehills reviews the additions and the recent High Court decision on Rosneft’s judicial review..
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02 March 2015
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221 - 02 March 2015
Take ‘em out – AML goes into attack
“I don’t buy a burglar alarm to tell me I’ve been robbed”: Darren Innes, CEO of C6 Intelligence Group, independent risk data intelligence specialists, is in indignant mood when MLB visits. He’s no great fan of the..
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02 March 2015
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221 - 02 March 2015
Black gold’s black market
The fuel that powers the industrial global economy, oil is a natural revenue target for both organised crime and terrorists. David Carlisle explores leaks and diversions in the international supply chain, drawing on the experience of three..
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02 March 2015
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221 - 02 March 2015
Does Norway need a new master builder?
Despite its wealth and reputation for probity – with a rank of 5/175 in the 2014 Transparency International Corruption Perceptions Index – Norway suffers from structural cracks in its AML regime, according to the latest Financial Action..
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02 March 2015
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221 - 02 March 2015
Closer to the owner
The legislative instruments are drafted and it is only a matter of time before company beneficial ownership registers are opened on both sides of the Atlantic: perhaps, but Alan Osborn discovers that political timetables and partisan interests may..
Online Published Date:
02 March 2015
Appeared in issue:
221 - 02 March 2015