Archive for February, 2009

25/02/09 India poised to have FATF entry approved

February 25, 2009  |   International News   |     |   0 Comment

New Delhi: A Bill aimed at effectively combating money-laundering, terror financing and cross-border economic offences was passed by Parliament on Tuesday, with the Lok Sabha approving the measure. The Prevention of Money Laundering (Amendment) Bill, 2009, passed by the Rajya Sabha last week, seeks to ensure a legal framework to check ...

25/02/09 Garda fraud officers continue Anglo probe

February 25, 2009  |   General News & Cases,International News   |     |   0 Comment

THE Garda Fraud Squad raid on the offices of Anglo Irish Bank was unprecedented and could lead to criminal prosecutions, according to legal experts. On Monday, a judge in Dublin's District Court granted officers from the Garda Fraud Squad permission to enter three separate premises of Anglo Irish Bank and take ...

25/02/2009 FATF Statment

February 25, 2009  |   AML Legislation updates   |     |   0 Comment

IRAN The FATF welcomes Iran’s initial engagement with the international community on money laundering. However, the FATF remains concerned by Iran’s failure to meaningfully address the ongoing and substantial deficiencies in its anti-money laundering and combating the financing of terrorism (AML/CFT) regime. The FATF remains particularly concerned about Iran’s failure to address ...

19/02/09 Increase in the Money Laundering annual registration fee

February 19, 2009  |   General Information & FAQ's,HMRC News and Guidance   |     |   0 Comment

HMRC today announce an increase of the annual registration fee for businesses registered under the Money Laundering Regulations 2007 to £120. The sectors affected are Money Service Businesses, High Value Dealers, Trust or Company Service Providers and Accountancy Service Providers. The Money Laundering Regulations supervisory regime is run on a full ...

12/02/2009 14,000 tax avoidance schemes and counting…

February 12, 2009  |   General News & Cases,HMRC News and Guidance   |     |   0 Comment

At the last count, since rules requiring the disclosure of tax avoidance arrangements to HMRC were introduced in 2004 there had been around 14,000 such schemes. Or so we thought. Now it seems these might be far from the limit of the problem, as many "promoters" of schemes, such as accountants, ...

04/02/09 Birmingham Anti-Money Laundering Conference

February 04, 2009  |   General News & Cases,SOCA - Latest News   |     |   0 Comment

Businesses in the Birmingham area are invited to a FREE one day conference to learn how to safeguard themselves against serious organised crime and money laundering. The event, run by ‘Payback’ and hosted by the UK Financial Intelligence Unit of SOCA, will be held on Thursday March 12 at the National ...

03/02/09 Important information for Money Service Businesses (MSBs)

February 03, 2009  |   AML Legislation updates,HMRC News and Guidance   |     |   0 Comment

This note is to alert all Money Service Businesses (MSBs) to HM Treasury’s new powers to issue directions under the Counter Terrorism Act which came into force on 26 November 2008. What powers does HM Treasury have? HM Treasury (HMT) may give a direction if one or more of the following apply: • The ...