The Financial Services Authority (FSA) has recently censured and banned three directors from acting as senior managers for failing to meet their supervisory standards
A new set of anti money laundering guides have been published on the HMRC internet site to replace Public Notice MLR8: Preventing money laundering and terrorist financing. The new guides are sector specific and provide detailed guidance in relation to the legislation, risks, record keeping and reporting requirements relevant to each business sector.
In mid June HMRC a paper, which went to some length to describe the activity of the HMRC supervisory team and publish various statistics.
In mid June HMRC published the above paper, which went to some length to describe the activity of the HMRC supervisory team and publish various statistics. This contains some very interesting statistics and some serious areas for concern, especially in the accountancy service providers sector.
A London Chartered accountant faces eight years behind bars after being convicted of manipulating both his clients’ and his own tax returns, pocketing £11m in income tax and VAT payments.
The new Dutch Crimestoppers operation saw the arrest of its first target yesterday.
James Vincent Muldoon, 30, of Liverpool, absconded from his trial for armed robbery in 2007 and was sentenced in his absence to 13 years in prison.
Decision on appeal against registration under the Money Laundering Regulations 2003
A First-tier Tribunal (Tax Chamber) decision regarding registration of businesses under the Money Laundering regulations 2003 has now been published.
Thousands of pounds confiscated from criminals have been donated to an allotment project in Greater Manchester.
HMRC Announces important information for Money Service Businesses, High Value Dealers, Trust or Company Service Providers and Accountancy Service Providers who have failed to apply for Money Laundering Regulations Registration.
HMRC announce that a new late registration penalties policy has been introduced for Money Service Businesses, (MSBs) High Value Dealers, (HVDs) Trust or Company Service Providers, (TCSPs) and Accountancy Service Providers (ASPs).
HM Treasury today issues a Statement on Money Laundering controls in Overseas Jurisdictions
The notice constitutes advice issued by HM Treasury about risks posed by unsatisfactory money laundering controls in a number of jurisdictions.
The Money Laundering Regulations 2007 require firms to put in place policies, procedures or systems in order to prevent money laundering or terrorist financing. Regulated businesses are also required to apply enhanced customer due diligence and enhanced ongoing monitoring on a risk-sensitive basis in certain defined situations and in “any other situation which by its nature can present a higher risk of money laundering or terrorist financing”.