This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
The Chinese subsidiary of BNP Paribas will pay a CNY2.7million (US$378,500) fine after People’s Bank of China investigators found thatcustomer identification was not always verified and large and suspicioustransactions sometimes not reported. The..
John Binns (+44 (0)20 7430 2277, email@example.com) and Harry Travers (+44 (0)20 7430 2277, firstname.lastname@example.org) are partners at BCL Solicitors LLP, specialising in financial crime, money laundering and sanctions.
As Syria enters its tenth year of civil war, the economy is in tatters, foreign currency is in short supply, and sanctions have not only been renewed, the United States has introduced additional, secondary measures. Funds still flow, but how? Paul..
The ability to be in two places at once, albeit at particle level, while not measurable, as it will affect the outcome, may sound like the stuff of science fiction, but quantum computing, which harnesses the theoretical physics, is hard fact, finds..
The London branch of German lender Commerzbank is to pay a UK£37,805,400 penalty after the UK Financial Conduct Authority (FCA) found widespread AML failings in its know your customer (KYC) and monitoring framework between 23 October 2012 and 29..
JAK Medlemsbank, the Swedish cooperative bank, has been fined SEK1.6 million (US$170,000) by Finansinspektionen for “significant deficiencies” in its AML/CFT risk assessment and customer due diligence practice, including record-keeping.In many..
‘Safe as houses’ may still apply to criminal funds invested in real estate in many parts of the world but laws and enforcement authorities are beginning to recover lost ground. Jonathan Dyson reports.New initiatives internationally aim to tackle..
SEB, the Swedish lender controlled by the Wallenberg family of industrialists, has been fined SKr1 billion (US$107m) by the Finansinspektionen for deficiencies in anti-money laundering controls in its Baltic operations. The financial markets..
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.
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..