Archive for November, 2010

30.11.10 Accountant fined £1,080 for a failure to verify a client

November 30, 2010  |   General News & Cases,Professional Bodies   |     |   0 Comment

The ICAEW has made the following regulatory decision in a case for a failure to verify a client in accordance with the Money Laundering Regulations. Consent Orders made on 1 June 2010 With the agreement of Andrew Nigel Hamilton of 38 Dean Park Mews, Edinburgh EH4 1ED, ...

30.11.10 Accountant fined £5,000 for a failure to report

November 30, 2010  |   General News & Cases,Professional Bodies   |     |   0 Comment

The ICAEW made the following regulatory decision in the following case for a failure to make a suspicious activity report in a timely basis Consent Orders made on 28 July 2010 With the agreement of Michael Martin Shenker of 5Wellesley Court, Apsley Way, London NW2 7HF, the Investigation Committee made an order that ...

04.11.10 FATF to add Tax Crimes as a ‘Predicate offence’ for money laundering

November 04, 2010  |   AML Legislation updates   |     |   0 Comment

The Financial Action Task Force in its consultation document ‘Preparation for the 4th Round of Mutual Evaluations’ states that is considering including tax crimes as a predicate offence for money laundering in the context of its recommendation 1. More precisely, it proposes to amend the list of designated categories of ...