Incisive commentary from leading voices in the world of compliance

02 Aug 2017
Published in Article

The sneakers that could bring down Russia’s Prime Minister: an interview with Nikita Kulachenkov

In this exclusive interview with KYC360, Kulachenkov reveals the logistics of creating Don’t call him Dimon and just what it took to unravel what Navalny has called a “grandiose, tangled snarl of figureheads and dummy corporations.”

26 Jul 2017
Published in Article

SAR wars: a new hope

The SARs regime as it currently operates in the UK is barely fit for purpose. This is not a controversial point. The number of SARs filed each year is ballooning: in 2014-15, for example, the National Crime Agency received more than 380,000 SARs, an 8% increase on the previous year.

25 Jul 2017
Published in Article

UK: financial crime rises, prosecutions fall

In a concerning development, the Financial Times reported yesterday that according to official statistics, prosecutions for financial crime in the UK have fallen 26% over the last five years, from 11,261 prosecutions in 2011 to 8,304 in 2016. Over the same period, the number of reported offences has risen 350%, from 142,991 to 641,539.

24 Jul 2017
Published in Article

Challenging the chaebol: big business and corruption in South Korea

Corruption is effectively a by-product of the success of Park Chung-hee’s development strategy for South Korea. With sectors encompassing the whole economy under the control of just a few families, it was easy for President Park Chung-hee to strong-arm them into following his agenda—a restless push to consistently produce and invest more, force their products into developed markets and export the country’s way to growth.

21 Jul 2017
Published in Article

UK: FCA guidance on the treatment of PEPs for AML purposes – what you need to know

The UK’s Financial Conduct Authority (“FCA”) recently published the final version of guidance on how financial services firms should treat politically exposed customers in order to meet AML obligations.