- Home/Publications/Money Laundering Bulletin
HSBC switches on automated trade finance crime detection and sanctions check engines
The trade finance arm of global banking group HSBC has gone live with a customer surveillance system that combines big data, its own advanced analytics and automated ‘contextual monitoring’ developed with fintech firm Quantexa.The goal is to better..
Online Published Date:
02 October 2019
Appeared in issue:
268 - 19 September 2019
Scottish limited partnership research confirms ML risk
Scottish Limited Partnerships (SLPs), which featured in the Azerbaijani Laundromat [1], remain a high money laundering risk, investigative journalists at Bellingcat have found.In a report entitled “Smash and Grab – The UK’s Money Laundering Machine”..
Online Published Date:
03 October 2019
Appeared in issue:
268 - 19 September 2019
All rise? – sentencing in England & Wales
Charles Thomson (+44 (0)20 7919 187, charles.thomson@bakermckenzie.com) is a partner and Henry Garfield (+ 44 (0)20 7919 1180, henry.garfield@bakermckenzie.com) an associate at Baker & McKenzie in London.
Online Published Date:
03 October 2019
Appeared in issue:
268 - 19 September 2019
Brexit could boost ML/TF risks in remaining EU countries, warn regulators
By Keith Nuthall
Online Published Date:
08 October 2019
Appeared in issue:
268 - 19 September 2019
Moneyval highlights de-risking in Eastern Europe
By Sara Lewis
Online Published Date:
10 October 2019
Appeared in issue:
268 - 19 September 2019
Cayman Islands to make public company beneficial owners
The Cayman Islands, on 9 October [2019], announced that it intends to introduce a public register of beneficial owners of companies formed in the British Overseas Territory.The official statement from the Cayman Islands government [1] is unclear on..
Online Published Date:
10 October 2019
Appeared in issue:
268 - 19 September 2019
Take care before you charge: acquiring criminal property
Emma Radmore
(+44 (0)207 788 2372, emma.radmore@wbd-uk.com)
is legal director at Womble Bond Dickinson.
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
Material risk – accountants: FATF’s gatekeeper guidance
Thenumbers appear healthy and the fee income is tempting but it’s proving
difficult to gain assurance on the bona fides of the prospect or worse, to
re-verify a profitable existing client: at some point the relationship won’t
add up. Keith Nuthall..
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
Ill-gotten gains? The story (so far) of Zamira Hajiyeva
John Binns(+44 (0)20 7430 2277,jbinns@bcl.com) and Michael
Drury (+44 (0)20 7430 2277, mdrury@bcl.com) are
partners in the business crime and corporate regulatory department of BCL
Solicitors LLP (www.bcl.com).
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
The devil you know
Susan Grossey may be
contacted on +44 (0)1223 563636, susan@thinkingaboutcrime.com,
www.thinkingaboutcrime.com
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
Hazy: the legal position for UK-based cannabis investors
Steve Smith
(+44 20 7919 0616, stephensmith@eversheds-sutherland.com)
is a partner at Eversheds Sutherland.
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
Coins and countries – the FATF plenary risk list
Stablecoins, cryptocurrency variants with values pegged to other assets to reduce volatility, are on the Financial Action Task Force (FATF) radar, the standard-setter revealed at its October 2019 plenary. [1]Both stablecoins and their service..
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
Betfred pays UK£322,000 for failed source of funds checks
Petfre (Gibraltar) Limited, which trades as Betfred, accepted UK£210,000 from a convicted fraudster, who proceeded to lose UK£140,000 over 12 days in November 2017.The UK Gambling Commission said it had been passed information on the customer, who..
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
Fifth attempt – an EU cryptocurrency control survey
If regulation often (always?) trailsindustry innovation, legislation usually lags even further behind. Sara
Lewis considers how wide the gap is for cryptocurrencies in the European
Union.The European Union’s (EU) Fourth Money
Laundering Directive..
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
Matching K(S)SS(S)tem*: Priorities
Eric A. Sohn, CAMS (eric.sohn@dowjones.com), global market strategist and product director, Dow Jones Risk & Compliance, New York, NY, USA.
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
Back to black – but not quite yet: revised methodology agreed but no new EU blacklist before 2020
Zia Ullah(+44 161 831 8454,ziaullah@eversheds-sutherland.com) is a Partner andRuth Paley(+44 207 919 0527,ruthpaley@eversheds-sutherland.com) is Of Counsel at Eversheds Sutherland.
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
KYC – set for digital transformation
Roger Carson (+44 (0) 333 772 0002, info@encompasscorporation.com) is Co-Founder & Global Financial Sales Director at Encompass Corporation.
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
Cryptoassets – UK costs AML/CFT supervision
Sushil
Kuner (+44 (0)20 7759 6542, sushil.kuner@gowlingwlg.com) is a principal associate and Ian Mason (+44 (0)20 7759 6685, ian.mason@gowlingwlg.com)
a partner and Head of the UK Financial Services Regulatory Team at Gowling WLG.
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
RBS exercise of contractual discretion to terminate banking relationship without notice upheld
This case summary is an excerpt from “The Lie of the Land:
Banking Litigation – Key cases in England & Wales so far this year” by Anthea
Bowater (anthea.bowater@freshfields.com),
a senior associate, and Simon Orton (simon.orton@freshfields.com) and Piers
Reynolds (piers.reynolds@freshfields.com),
who are partners at Freshfields in London (+44 20 7936 4000).
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
EU revises methodology for high-risk third countries
The European Commission set out, on 1 October [2019], its amended approach to listing third countries, outside the European Union, as high risk due to anti-money laundering and counter terrorist financing deficiencies.The Commission’s previous..
Online Published Date:
25 October 2019
Appeared in issue:
268 - 19 September 2019
UK must clean up its AML act or risk becoming rogue jurisdiction offshore Europe – TI report
By Keith Nuthall
Online Published Date:
25 October 2019
Appeared in issue:
269 - 25 October 2019
FATF advises multi-source checks on beneficial ownership of shell companies
By Keith Nuthall
Online Published Date:
26 October 2019
Appeared in issue:
269 - 25 October 2019
BNP Paribas fined US$15m for not screening penny stock wire transfers
By
Keith Nuthall
Online Published Date:
26 October 2019
Appeared in issue:
269 - 25 October 2019