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.
The ICAEW made has made a regulatory decision in a case for a failure to make a suspicious activity report in a timely basis
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 predicate offences for money laundering as follows:
To clarify the current designated category of smuggling by referring to: smuggling including in relation to customs and excise duties and taxes.
To add a separate designated offence category: tax crimes – related to direct taxes and indirect taxes.