Author Archive
07.11.11 ICAEW Disciplinary Consent order made on 3 October 2011
The followng consent orderwas made by the ICAEW investigation committee With the agreement of Richard Braysher of 2 High Road, Eastcote, Pinner, Middlesex, HA5 2EW, the Investigation Committee made an order that the member be severely reprimanded, fined £5,000 and pay costs of £1,280 with respect to a complaint that: 1 Between ...
04.11.11 Shah v HSBC: Court of Appeal Says the Identity of Staff Making SARs in Good Faith is Not Disclosable
Shah v HSBC: Court of Appeal Says the Identity of Staff Making SARs in Good Faith is Not Disclosable The Court of Appeal in London ruled on 13 October that HSBC Private Bank did not have to disclose the identity of employees who had made internal reports which had led to ...
31.10.11 Former ATT President Charged With Tax Fraud
[caption id="attachment_501" align="alignleft" width="370" caption="Former ATT President"][/caption] Andrew Meeson, the former President of the Association of Taxation Technicians and three of his business associates who administered a pension scheme, have been charged with stealing £5million through a tax fraud ...
01.09.11 Money Laundering Regulations cease to apply to stocktakers from 1 October 2011
As part of its review of the Money Laundering Regulations and in order to ensure its effective and proportionate implementation by businesses in the UK, the Treasury has reviewed the risk of money laundering and terrorist finance with HMRC and the Institute of Licensed Trade Stock Auditors. As a result the ...
11.07.11 Solicitor Jailed For Corruption
A Henley-on-Thames based solicitor is serving a 16 month prison sentence for abusing his professional position. James Thorburn-Muirhead was sentenced on 29th June after a SOCA investigation revealed his links to a drug dealer, his involvement in the theft of clients’ monies and his failure to disclose information under the Suspicious ...
07.06.11 HM Treasury Publish MLR Review
HM Treasury published its response to the review of the Money Laundering Regulations 2007. It is a consultation document requiring responses to be submitted by 30August 2011. It separates itself from the obvious areas from which FATF will review their 40 recommendations such as PEP’s and expansion of the regime. These ...
17.05.11 Proposed Changes to the ML Regime
I have just attended the 8th annual conference of IMLPO where two of the key speakers, Edward Garnier QC MP, Solicitor General and Hugh Burns, Head of Financial Crime Team HM Treasury, gave interesting updates to both the international and UK regimes and a time table for new changes. Firstly, the ...
12.05.11 ICAEW Fine Accountant £5,000 for breach
At a Disciplininary Council meeting a Mr P R Honeywell FCA was found to have failed to comply with Money Laundering Regulations 2007 in that, following a practice assurance visit, he failed to: (i) document a client due diligence review; and (ii) identify clients for whom his firm, Honeywell (Monmouth) Limited, provides ...
26.04.11 Thousands of UK passports ‘thrown out with rubbish’
[caption id="attachment_457" align="alignleft" width="304" caption="UK Passport"][/caption] Some 10,000 passports a year are probably thrown in bins, says the UK's Identity and Passport Service (IPS). Launching a campaign urging people to keep passports safe, it warns the same number are lost ...
15.03.11 Reminder from HMRC – Money laundering risks from politically exposed persons
Financial sanctions imposed on Libya, Zimbabwe, Al-Qaida and the Taliban The UK Government has announced financial sanctions against the regimes in Libya and Zimbabwe and against anyone associated with either Al-Qaida or the Taliban. Recent developments in the Middle East have highlighted the need for businesses to be vigilant and have robust ...
