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Annual return – UK National Crime Agency reports
Josef Rybacki (+44 (0)20 7872 1517, josef.rybacki@wilmerhale.com) is an associate in WilmerHale’s UK White Collar Defence and Investigations practice.
Online Published Date:
10 August 2020
Appeared in issue:
276 - 06 July 2020
Have Unexplained Wealth Orders hit the rocks?
John Binns (+44 (0)20 74302277, jbinns@bcl.com) and Michael Drury(+44 (0)20 7430 2277, mdrury@bcl.com) arepartners at BCL Solicitors LLP, specialising in financial crime, includingmoney laundering, civil recovery, and unexplained wealth.
Online Published Date:
10 August 2020
Appeared in issue:
276 - 06 July 2020
Sparing the rod – UK AML supervision
Late reporting carries regulatory sanction unless, that is, you’re a regulator, apparently. Or maybe publication in August 2020 of the review of UK AML supervisors’ performance for the period 6 April 2018 to 5 April 2019 [1] is solely down to HM..
Online Published Date:
11 August 2020
Appeared in issue:
276 - 06 July 2020
FIMBank fined in Malta for country risk and monitoring flaws
FIMBank has been fined €168,943 by Malta’s Financial Intelligence Analysis Unit (FIAU) for risk assessment and monitoring breaches. [1]An onsite inspection in 2018 found that the bank’s country risk assessment model used in profiling ultimate..
Online Published Date:
12 August 2020
Appeared in issue:
276 - 06 July 2020
Interactive Brokers fined US$38m: under-resourced AML; suspected microcap manipulation unreported
By Sara Lewis
Online Published Date:
13 August 2020
Appeared in issue:
276 - 06 July 2020
Purplebricks estate agency reddened by UK£266,793 fine for AML breaches
Online estate agency Purplebricks has been fined UK£266,793 by HM Revenue & Customs for breaches of the Money Laundering Regulations 2017.The regulator found deficiencies in “policies, controls and procedures, conducting due diligence and timing..
Online Published Date:
19 August 2020
Appeared in issue:
276 - 06 July 2020
Qualified positive – the UK economic crime levy
Alun Milford (+44 (0)20 7369 3818, amilford@kingsleynapley.co.uk) is a criminal litigation partner at Kingsley Napley LLP. Previously he was General Counsel at the Serious Fraud Office, the Crown Prosecution Service’s Head of Organised Crime, its Head of Proceeds of Crime and Revenue and Customs Prosecutions Office’s Head of Asset Forfeiture Division.
Online Published Date:
20 August 2020
Appeared in issue:
276 - 06 July 2020
Opinion: China is the world’s biggest money laundering threat
John A. Cassara retired after a 26-year career as a U.S. intelligence officer and Special Agent for the Department of Treasury. He is a speaker and consultant and is on the Board of Directors of Global Financial Integrity. Cassara has written countless articles and five books on money laundering and threat finance. Additional information is available at www.JohnCassara.com
Online Published Date:
20 August 2020
Appeared in issue:
276 - 06 July 2020
Occupational hazards: the National Risk Assessment
Susan Grossey may be contacted on +44 (0)1223 563636, susan@thinkingaboutcrime.com, www.thinkingaboutcrime.com
Online Published Date:
25 August 2020
Appeared in issue:
276 - 06 July 2020
Out of control – the Commerzbank London case
Denis O’Connor, a Fellow of both the Institute of Chartered Accountants in England & Wales and the Chartered Institute of Securities and Investment, was a member of the British Bankers’ Association Money Laundering Committee from 2003-10 and a member of the Joint Money Laundering Steering Group’s Board and Editorial Panel between 2010 and 2016. He has been a frequent speaker at industry conferences on financial crime issues, both in the UK and abroad.
Online Published Date:
25 August 2020
Appeared in issue:
276 - 06 July 2020
Undaunted - fintechs forge on
Energetic and determined to shake upfinancial services, fintechs are innovating in AML as well. Paul Cochranekeeps pace with the latest developments. The world’s fast-growing digital banking andpayments sector requires regulatory compliance software..
Online Published Date:
25 August 2020
Appeared in issue:
276 - 06 July 2020
China – set out
The People’s Republic of China may be vying for premier position in global economic rankings but, despite a recent rise in enforcement activity, it still has far to go in the anti-money laundering league, finds Jens Kastner.China is expanding..
Online Published Date:
25 August 2020
Appeared in issue:
276 - 06 July 2020
Crown Dependencies – ownership and control
Britain’s three Crown Dependencies – theIsle of Man, Jersey and Guernsey – are preparing to draft legislation to ensuretheir respective beneficial ownership registers are open to the public, even asthey steer between UK and EU influence post Brexit,..
Online Published Date:
25 August 2020
Appeared in issue:
276 - 06 July 2020
Go East – salaries and prospects in Asia
Leadership in global trade may be tipping in favour of the Far East but governance is playing catch-up – good news, one would think, for anti-money laundering compliance. Poorna Rodrigo, Keith Nuthall and Julian Ryall go into the job market.Hong..
Online Published Date:
25 August 2020
Appeared in issue:
276 - 06 July 2020
Bahrain fines Iran Central Bank, other Iranian banks & three individuals US$47m for ML
The Central Bank of Iran (CBI) has been convicted by the High Criminal Court in Bahrain of money laundering via Future Bank, a retail bank in Bahrain, now under administration, according to the Bahrain New Agency (BNA). [1]The court ordered CBI to..
Online Published Date:
28 August 2020
Appeared in issue:
277 - 28 August 2020