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Permanence and progress - the FATF interview
Interview by Keith Nuthall.
Online Published Date:
01 May 2019
Appeared in issue:
263 - 01 May 2019
Blockchain & AI – in the works
Distributed ledger technology and artificial intelligence spark excitement as the enablers of next generation compliance tools, set to put anti-money laundering on the front foot against criminals, but is there evidence to support the enthusiasm?..
Online Published Date:
01 May 2019
Appeared in issue:
263 - 01 May 2019
Fifth dimension
DenisO’Connor is a Fellow of both the Institute ofChartered Accountants in England & Wales and the Chartered Institute ofSecurities and Investment. He was a member of the British Bankers’ AssociationMoney Laundering Committee from 2003-10 and a member of the Joint MoneyLaundering Steering Group’s Board and Editorial Panel between 2010 and 2016. Hehas been a frequent speaker at industry conferences on financial crime issues,both in the UK and abroad.
Online Published Date:
01 May 2019
Appeared in issue:
263 - 01 May 2019
Sound system – integrated volume control for enterprise AML
Richard Malish is General Counsel at a leading financial crime software vendor. He has over 15 years of experience advising major financial institutions, broker-dealers and corporates on regulatory, M&A and technology matters. The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinions of the author’s employer. No legal or accounting advice is provided hereunder and any discussion of regulatory compliance is purely illustrative.
Online Published Date:
01 May 2019
Appeared in issue:
263 - 01 May 2019
Paved with good intentions
Susan Grossey may becontacted on +44 (0)1223 563636, susan@thinkingaboutcrime.com,www.thinkingaboutcrime.com
Online Published Date:
01 May 2019
Appeared in issue:
263 - 01 May 2019
Distinctly big – China & India
Roughly comparable in population – Chinais home to 1.4 billion and India to 1.3 billion, Asia’s leading economies facemany of the same money laundering challenges as neighbouring countries but at ascale and value that would dwarf their GDPs. Jens..
Online Published Date:
01 May 2019
Appeared in issue:
263 - 01 May 2019
UK company register data shows need for checks and enforcement, says NGO
The proportion of UK-registered companies claiming no persons with significant control (PSCs) stands at 7.9% (336,224/4,252,811) against 8.1% (335,010/4,096,049) a year ago, according to Global Witness, the anti-corruption group.A review of..
Online Published Date:
07 May 2019
Appeared in issue:
264 - 01 June 2019
Dual-track money laundering investigations: one-way traffic?
Leila Gaafar (+44 (0)20 7872 1053, leila.gaafar@wilmerhale.com) is a senior associate in WilmerHale’s UK White Collar Defence & Investigations practice.
Online Published Date:
13 May 2019
Appeared in issue:
264 - 01 June 2019
UK organised crime turn more to bulk cash smuggling, law enforcement report
Serious organised crime costs the UK at least UK£37 billion a year, according to the National Crime Agency. In its 2019 National Strategic Assessment of Serious and Organised Crime [1], the NCA says that 37,317 individuals are actively involved..
Online Published Date:
14 May 2019
Appeared in issue:
264 - 01 June 2019
Irish stockbroker fined €280,000 for AML/CFT breaches over six years
Campbell O’Connor & Co, a Dublin stockbroking firm, has paid €280,000 for breaching Ireland’s Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. [1]In the course of a thematic review of the investment firm sector, Central Bank..
Online Published Date:
14 May 2019
Appeared in issue:
264 - 01 June 2019
Over 40% of law firm sample in enforcement after AML review: England & Wales
Law firms in England and Wales continue to breach the 2017 Money Laundering Regulations, according to the Solicitors Regulation Authority. [1]Of 59 firms providing trust and company services reviewed by the regulator last year [2018], 26 (44%) were..
Online Published Date:
15 May 2019
Appeared in issue:
264 - 01 June 2019
UK economic crime policy - measured response
How much does economic crime cost the UK – tens of billions of pounds, hundreds of billions? No-one knows and the House of Commons Treasury Committee, in its recent report [1], contends that greater understanding of scale would aid setting..
Online Published Date:
17 May 2019
Appeared in issue:
264 - 01 June 2019
AML compliance issues catch 17% in concerted UK regulatory sweep week
UKAML supervisors identified 42 businesses in the legal, financial and propertysectors with potential compliance breaches during a week of 250 visits andreviews, coordinated by the National Economic Crime Centre (NECC). The regulators uncovered..
Online Published Date:
20 May 2019
Appeared in issue:
264 - 01 June 2019
Gaps in draft law put value of register of foreign entities owning UK property in doubt
More than three years after the UK Government pledged to establish a public register of foreign entities that own UK property and those who control them, there remain outstanding problems with the proposed legislation, according to a Parliamentary..
Online Published Date:
20 May 2019
Appeared in issue:
264 - 01 June 2019
German fintech N26 Bank ordered to strengthen AML controls
BaFin, the German financial services regulator, has told N26 Bank to review identification checks for some customers, clear alert backlogs in its automated transaction monitoring system and set out anti-money laundering processes and workflows in..
Online Published Date:
22 May 2019
Appeared in issue:
264 - 01 June 2019
British Columbia launches inquiry as over Can$7 billion reportedly laundered through real estate in 2018
By Keith Nuthall, in Ottawa
Online Published Date:
23 May 2019
Appeared in issue:
264 - 01 June 2019
UWOs in the UK – tactic or strategy?
Aziz Rahman (+44 (0)1422 346666, aziz.rahman@rahmanravelli.co.uk) is a partner at Rahman Ravelli.
Online Published Date:
29 May 2019
Appeared in issue:
264 - 01 June 2019
Cutting through the Red Dragon tape
China’s anti-money laundering philosophy is puzzling: at once complex, sometimes duplicative, law and regulation are partial – self-laundering is not illegal while only financial services are covered by the compliance obligations. One point that..
Online Published Date:
29 May 2019
Appeared in issue:
264 - 01 June 2019
Changing of the guard – Turkey
Turkey’s anti-terrorism measures, usedextensively following the attempted coup in 2016, have severely impacted thefight against unassociated money laundering and economic crime, finds Paul Cochrane. Public sector purgedWith the rule of law..
Online Published Date:
29 May 2019
Appeared in issue:
264 - 01 June 2019
Leading laggards – 4MLD in France and Germany
Both France and Germany face legal actionby the European Commission over their failure to fully implement the EuropeanUnion’s (EU) Fourth Money Laundering Directive (4MLD – 2015/849), which tookeffect on 26 June 2017. Sara Lewisasks why (and how)..
Online Published Date:
29 May 2019
Appeared in issue:
264 - 01 June 2019
The art of disguise
The criminal mastermind in his lair, richly furnished with old masters and museum-grade artefacts – stolen or bought with illicit funds, is a character long familiar from novel and film, while wholesale theft of antiquities from conflict zones is..
Online Published Date:
29 May 2019
Appeared in issue:
264 - 01 June 2019
Top three cryptocurrency mixer taken down over laundering risk
By Sara Lewis
Online Published Date:
30 May 2019
Appeared in issue:
265 - 30 May 2019
Top three cryptocurrency mixer taken down over laundering risk
By Sara Lewis
Online Published Date:
30 May 2019
Appeared in issue:
264 - 01 June 2019