Archive for February, 2008
financial criminals and disqualified directors in UK Companies House Register
Posted by: BTC in General Information & FAQ's, General News & Cases on February 28th, 2008
World-Check exposes terrorists, financial criminals and disqualified directors in UK Companies House Register
World-Check, in partnership with data quality specialist Datanomic, recently embarked on a project to screen the UK’s Companies House register of companies, company directors and secretaries against World-Check’s global database of high risk individuals and organisations.
The underlying aim of the project was to identify the growing number of high risk individuals registering and operating businesses in the UK. Two articles appeared in The Times newspaper you can read them directly from the newspaper.
The first article entitled ‘4000 company directors listed as global terror suspects and fraudsters’ and the second one ‘Buckinghamshire firm run by Croation war crimes suspect Ivan Cermak’.
Financial Action Task Force (FATF) statement
Posted by: BTC in AML Legislation updates, General Information & FAQ's, HMRC News and Guidance on February 28th, 2008
Financial Action Task Force (FATF) statement
Financial institutions in the UK should give special attention to business relations and transactions with persons, including companies and financial institutions, from jurisdictions that do not adequately apply the FATF Recommendations.
The FATF is an inter-governmental body that develops national and international policies to combat anti money laundering (AML) and the financing of terrorism (CFT). It has released a public statement on several countries highlighting their concerns over deficiencies in their AML/CFT legislation.
The countries are Iran, Pakistan, Uzbekistan, Turkmenistan, Sao Tome and Principe, and the northern part of Cyprus.
More information on FATF can be viewed on their website.
If you deal with any of the countries listed you should take account of these concerns in your AML Risk Assessment
