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Cum-Ex – tax redux
Denis O’Connor, a Fellow of both the Institute of Chartered Accountants in England& Wales and the Chartered Institute of Securities and Investment, was amember of the British Bankers’ Association Money Laundering Committee from2003-10 and a member of the Joint Money Laundering Steering Group’s Board andEditorial Panel between 2010 and 2016. He has been a frequent speaker at industryconferences on financial crime issues, both in the UK and abroad.
Online Published Date:
01 July 2020
Appeared in issue:
275 - 01 July 2020
Offshore reach – beneficial ownership registers on the horizon
The UK’s overseas territories fought longand hard to prevent public disclosure of who owns and controls the legalentities listed in their registries but a UK legislative deadline of December2023 is finally compelling change: Gemma Handy, based in St..
Online Published Date:
01 July 2020
Appeared in issue:
275 - 01 July 2020
Pack your (virtual) bags
Susan Grossey may be contacted on +44 (0)1223 563636, susan@thinkingaboutcrime.com, www.thinkingaboutcrime.com
Online Published Date:
01 July 2020
Appeared in issue:
275 - 01 July 2020
Public Data v. Private Understanding: one reason why firms are falling short in the fight against money laundering
Tim Parkman (tim.parkman@cddpro.com) and Stuart Hammond (stuart.hammond@cddpro.com) are independent financial crime consultants and directors of CDD Pro Ltd (www.cddpro.com).
Online Published Date:
01 July 2020
Appeared in issue:
275 - 01 July 2020
First in Jersey: lessons from the Abu Dhabi Commercial Bank case
Eleanor Davies (+44 [1534] 766254, eleanordavies@bakerandpartners.com) is an associate at Baker &Partners.
Online Published Date:
01 July 2020
Appeared in issue:
275 - 01 July 2020
UK lockdown - day one hundred
Martin Woods (martin@amlwoods.com) is a former Metropolitan Police Officer and latterly the Head of Financial Crime at Thomson Reuters.
Online Published Date:
01 July 2020
Appeared in issue:
275 - 01 July 2020
FATF defers countermeasures for weak AML/CFT in view of COVID-19
ByKeith Nuthall
Online Published Date:
01 July 2020
Appeared in issue:
275 - 01 July 2020
UK lockdown – day one hundred and one
Martin Woods (martin@amlwoods.com) is a former Metropolitan Police Officer and latterly the Head of Financial Crime at Thomson Reuters.
Online Published Date:
02 July 2020
Appeared in issue:
275 - 01 July 2020
UK lockdown - day one hundred and two
Martin Woods (martin@amlwoods.com) is a former Metropolitan Police Officer and latterly the Head of Financial Crime at Thomson Reuters.
Online Published Date:
03 July 2020
Appeared in issue:
275 - 01 July 2020
Pooled Client Accounts: the final answer?
John Binns(+44 (0)20 7430 2277,jbinns@bcl.com) is a partner and specialist in money laundering and financial crime at BCL Solicitors LLP in London.
Online Published Date:
06 July 2020
Appeared in issue:
276 - 06 July 2020
Priority focus: FATF, the next two years
Interview by Keith Nuthall.
Online Published Date:
07 July 2020
Appeared in issue:
275 - 01 July 2020
‘Inexcusable’ errors by Deutsche Bank in Epstein relationship and correspondent banking AML breaches bring US$150m fine in New York
Deutsche Bank will pay US$150 million to the New York Department of Financial Services (DFS) for due diligence and monitoring failures in its relationship with convicted sex offender Jeffrey Epstein, also for not adequately addressing anti-money..
Online Published Date:
08 July 2020
Appeared in issue:
276 - 06 July 2020
Signet Bank fined nearly €1 million in Latvia for AML breaches
SignetBank is to pay a €906,610penalty in Latvia for customer due diligence and transaction monitoring failings.[1] An inspection by the Financial and Capital Markets Commission(FCMC) found the bank had not taken adequate steps to verify beneficial..
Online Published Date:
17 July 2020
Appeared in issue:
276 - 06 July 2020
Romania and Ireland fined over late Fourth EU ML Directive implementation
By Sara Lewis, in Brussels
Online Published Date:
20 July 2020
Appeared in issue:
276 - 06 July 2020
Magnitsky sanctions: a storm in a teacup?
John Binns (+44 (0)20 74302277, jbinns@bcl.com) is a partner andspecialist in money laundering and financial crime at BCL Solicitors LLP inLondon.
Online Published Date:
20 July 2020
Appeared in issue:
276 - 06 July 2020
Russian elite and criminal money fully integrated in UK, Parliament committee finds
The UK is a “top Western intelligence target” for Russia, according to the UK Parliament Intelligence and Security Committee, which has examined the threat from illicit financial flows from that country as well as its espionage and cyber..
Online Published Date:
21 July 2020
Appeared in issue:
276 - 06 July 2020
New Zealand High Court fines two remitters NZ$7.6m for AML breaches
OTT Trading Group and MSI Group, New Zealand-based money services businesses, have been fined NZ$3.1m and NZ$4.485m, respectively, over failure to conduct anti-money laundering risk assessment and for “inadequate or non-existent [customer] due..
Online Published Date:
23 July 2020
Appeared in issue:
276 - 06 July 2020
Eyes always open [2] – KYC 'now'
Dermot Corrigan (+44 7710 266333, dermot.corrigan@smartkyc.com) is CEO of smartKYC.
Online Published Date:
28 July 2020
Appeared in issue:
276 - 06 July 2020
Global exchange – inside the Egmont Group
Interview by Keith Nuthall.
Online Published Date:
28 July 2020
Appeared in issue:
276 - 06 July 2020
Sparkasse Bank fined €217,000 in Malta for AML breaches
Sparkasse Bank has been fined €217,000 for anti-money laundering failings by Malta’s Financial Intelligence Analysis Unit. The FIAU uncovered a series of breaches during an onsite inspection of the Austrian deposit-taker, including customer risk..
Online Published Date:
29 July 2020
Appeared in issue:
276 - 06 July 2020
Ex-Coutts AML officer convicted in Switzerland over 1MDB reporting failures
A former Coutts anti-money laundering officer was found guilty, on 31 July [2020], by a Swiss court of failing to act on red flags around transactions by Jho Low, alleged orchestrator of siphoning off up to US$4.5bn from 1MDB, the Malaysian..
Online Published Date:
31 July 2020
Appeared in issue:
276 - 06 July 2020