Archive for the ‘General Information & FAQ’s’ Category

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 ...

Money Laundering Supervison

Steve O’Neill reviews the latest statement concerning Money Laundering Supervision The UK’s supervisory approach to compliance of obliged entities to the Money Laundering Regulations were branded "woefully inadequate" and are failing to block "corrupt money" and terrorist funds, an anti-corruption body has warned.

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 ...

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 ...

HM Treasury issue advice about unsatisfactory money laundering controls

HM Treasury has issued new advice about risks posed by unsatisfactory money laundering and terrorist financing controls. On 14 February 2014 the Financial Action Task Force (FATF) published two statements identifying jurisdictions with strategic deficiencies in their anti-money laundering and counter financing regimes. The Money ...

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 ...

Suspicious Activity Reports

National crime Agency takes over the Suspicious Activity Reports regime  The UK’s response to the threat from serious and organised crime will be transformed today as the new National Crime Agency (NCA) becomes operational. The UK financial intelligence unit which was part of SOCA has now ...

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 ...