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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..
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..
SignetBank is to pay a €906,610penalty in Latvia for customer due diligence and transaction monitoring failings. An inspection by the Financial and Capital Markets Commission(FCMC) found the bank had not taken adequate steps to verify beneficial..
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..
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..
Sparkasse Bank has been fined €217,000 for anti-money laundering failingsby Malta’s Financial Intelligence Analysis Unit. The FIU uncovered a series of breaches during an onsite inspectionof the Austrian deposit-taker, including customer risk..
A former Coutts anti-money laundering officer was found guilty, on 31 July , 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..