What they have done is meld together two only slightly related sets of obligations. Of course we need AML/CFT regs, and of course we need TOF regs, but not in the same document.
Last month Trump sparked comment about the future of Dodd Frank in a speech in which he referred to his ‘many friends’ unable to get loans for their businesses because of tighter standards for borrowing.
Five months on from this unprecedented move, has it achieved any of its corruption-reducing goals? Or were these little more than cover stories for a political objective? Alem Ao explores.
Stefan Cassella of Asset Forfeiture Law, LLC comments on US v $70,990,605. Under Section 981(k), the holder of a foreign account has statutory standing to contest the forfeiture of a similar amount of money from his bank’s correspondent account in the U.S.
In the latest instalment of his KYC360 blog, Professor Nic Ryder reflects on the UK Government’s call for evidence on corporate liability for economic crime.
Not too long ago, the UK was talking a pretty good game on anti-corruption. And playing a pretty good game, too. But that is now at risk as the country stumbles its way towards an exit from the European Union. The Conversation
Think back to that famous image from The Sopranos. The main character, Tony Soprano, is the head of a fictional Mafia organisation dominating organised crime in New Jersey – a multimillion pound outfit behind an array of financial crimes from bookmaking, to racketeering, to loan sharking. In the garden of his family home lie massive containers, stuffed full of gigantic wads of cash.
As part of the plea agreement, the Government agreed to credit any assets recovered under the forfeiture laws to Defendant’s restitution obligation. The Government did recover various assets and did credit them to the restitution order, but Defendant objected that he was not given credit for the assets’ full value.
The financial sector has long been in the forefront of the fight against financial crime. But, as the industry works to rehabilitate its reputation following the global financial crisis, this largely unseen role is increasingly being brought into the light.
Defendant was convicted of bringing undocumented immigrants into the United States and of harboring and transporting them once they were in this country. She was also convicted of an overarching conspiracy to do all of the above. Her sentence included the forfeiture of her ranch.
Leicestershire Police have seized 26 bitcoins and other assets worth £1 million from an individual allegedly linked to an ongoing money laundering investigation. A police spokesman told KYC360 that the East Midlands Special Operations Unit had ...
Britain’s revenue collector HMRC took on a number of tax cheats involved in various scams in 2017. Convictions were secured for pocketing employees’ income tax contributions, failing to declare income and offering fake tax ...
December was a busy month in Washington DC, chiefly because of the tax bill promoted by President Trump and his Republican colleagues in the Congress. Its final stages were so intensely debated as to drown ...
For the 200 police involved in the operation in a remote part of Shaanxi province, central China, it must have been one of their more memorable and unusual jobs: investigating, raiding and closing down an ...
After an eventful 2017, the year ahead will unlikely be dull on the United Kingdom’s anti-money laundering (AML) scene. The
For the 200 police involved in the operation in a remote part of Shaanxi province, central China, it must have
Susan Grossey has been making her living from crime for over twenty years. She provides anti-money laundering training and advice
December was a busy month in Washington DC, chiefly because of the tax bill promoted by President Trump and his