Archive for the ‘AML Legislation updates’ Category

Unexplained wealth orders

April 12, 2018  |   AML Legislation updates,General News & Cases,NCA - Latest News   |     |   Comments Off

UK working on 100 Unexplained wealth orders (UWOs) As part of The Criminal Finances Act, Unexplained wealth orders require individuals to explain various issues about an asset, including how it was obtained, including the source of the wealth, have ...

Policies and Procedures AML Regulations 2017

June 23, 2017  |   AML Legislation updates,General Information & FAQ's,General News & Cases   |     |   Comments Off

Policies and Procedures Templates for the Money Laundering Regulations 2017 A complete set of templates which aids in the requirements in the Regulations for risk sensitive policies, controls and procedures which are able to demonstrate ...

Anti Money Laundering verification platform

June 23, 2017  |   AML Legislation updates,General Information & FAQ's,General News & Cases   |     |   Comments Off

SmartSearch is Ready for the 2017 Anti-Money Laundering regulations The unique SmartSearch Anti Money Laundering verification platform is enabling regulated businesses to comply with the latest 2017 Anti Money Laundering (AML) Regulations and fulfil their AML, Customer Due ...

EU’s Fourth Anti-Money Laundering Directive

This is the first of a number of posts, looking at the implications EU's Fourth Anti-Money Laundering Directive on the UK’s Regulated Sector Obliged Entities This is the logical place to start for a ...

The EU Fourth Money Laundering Directive adopted in June 2015

The EU Fourth Money Laundering Directive (4MLD) was adopted in June 2015. One of the main requirements which are an enhancement over the 3rd directive is that it requires all Member States to hold ...

Government announces a new crackdown on corrupt professionals who help criminals

Lawyers, couriers and accountants could be jailed if they turn a blind eye to criminal activity they profit from, under Home Office plans. It wants to see a new offence of "participation in an organised crime group" to target those with reason to suspect they are part of an illegal enterprise. This ...

European Parliament to Vote on the 4th Anti-Money Laundering Directive

European Parliament to Vote on the 4th Anti-Money Laundering Directive   The European Parliament on the 13th February will vote for legislative revisions to the current EU Anti-Money Laundering Directive (AMLD). This is a once-in-a-decade opportunity, the 3rd directive was voted on 17 December 2005. The proposed revised Anti-Money Laundering Directive should ...

Client Due Diligence – Beneficial Ownership list to be public, PM states

A list of "shell" companies where firms keep money offshore will be published to discourage tax evasion, David Cameron has announced, making changes to client due diligence for obliged entities. Ministers had already announced the register, intended to lift the "cloak ...

Money Laundering Transparency & Trust discussion paper

On 15 July, Dr Vince Cable, Secretary of State for Business, Innovation and Skills, announced the launch of the Transparency & Trust discussion paper. This sets out a number of proposals aimed at addressing opaque ownership structures and ...

The Government published its changes to the Money Laundering Regulations 2007

July 18, 2012  |   AML Legislation updates,General News & Cases   |     |   0 Comment

The Government today published its response to its consultation on changes to the Money Laundering Regulations 2007. Following this consultation the Government is now taking forward proposals to reduce the regulatory burden imposed by the current regulations, while strengthening the overall anti-money laundering regime. The aim of the changes was to ...