Financial crime investigators have been focusing on the wrong thing.
Financial services providers must start adapting and expanding compliance procedures to deal with the new UK failure to prevent the facilitation of tax evasion offence that is set to come into force next year, says Ogier’s Head of Regulatory Services.
Concerns raised over business relationships and finances of Sudhir Choudhrie and his son Bhanu, from one of India’s most high-profile families.
Paul Tate, the former payments director at pre-Amaya PokerStars, pleaded guilty in the Southern District Court of New York on
Threats by the Labour Shadow Chancellor to crackdown on British offshore finance centres have been dismissed as just a ‘cheap shot’ by outgoing Chief Minister Allan Bell.
The court heard in total they sent more than £39,000 from accounts with Isle of Man Bank to Merseyside in more than 60 online transactions or bank transfers, despite suspecting the money came from the drugs trade.
The Isle of Man Financial Services Authority has been notified that the Isle of Man Treasury has recently published new and updated information regarding sanction regimes relating to Libya North,
Korea, Iran, ISIL (Da’esh) and Al Qaida and Terrorism and Terrorist Financing.
The Isle of Man Financial Services Authority has today issued a public consultation on the draft Financial Services Rule Book 2016, which we intend will replace the current Rule Book on 1 January 2017.
An investment fund can be utilised by those seeking to launder money. Investment funds are particularly suitable for money laundering where a large sum of illicit money is already within the financial system.
It is a precarious victory that Romania's 500,000 protesters earned last week, and it is characteristic of current public sentiment that there have been no celebrations. There is widespread distrust of the government, partly due ...
This is the transcript of a speech given by John Griffith Jones, Chairman at the UK's Financial Conduct Authority, to MBA students at Cambridge Judge Business School. It is republished here with the FCA's permission. Thank you ...
The fallout from a massive bribery scandal that helped to bring down a Brazilian president is spreading across Latin America, threatening to engulf leaders from Panama to Peru. The workings of a secret “bribery department” at ...
Serious and organised crime costs the UK £24bn annually, and threatens the safety of the British public. Accountants form a crucial part of the front line when it comes to spotting suspicious financial activity and ...
HSBC has cut the pay package of its top executives in 2016 after Britain’s biggest bank failed to meet demands by US regulators that it toughen up its defences against financial crime.
On 17 January 2017, at Southwark Crown Court, Lord Justice Leveson approved a deferred prosecution agreement (“DPA”) between the Serious Fraud Office (“SFO”), and Rolls-Royce Plc and Rolls-Royce Energy System Inc (“Rolls-Royce”). The third DPA agreed by the SFO has led some to wonder whether DPAs have finally come of age as a weapon the SFO’s enforcement arsenal.
In late November, Jay Clayton was called by a longtime client seeking advice for how the Trump administration should tackle scaling back rules on Wall Street.
European Supervisory Authorities warn on money laundering and terrorist financing risks affecting the EU financial sector
The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) published today a joint Opinion addressed to the European Commission on the risks of money laundering (ML) and terrorist financing (TF) affecting the European Union’s financial sector.