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.
Campaigners have frequently branded the UK a world money-laundering hotspot, citing the ‘terrifying’ scale of money laundering through the City of London. Is this fair? What is the UK doing to remedy the problem? Richard Nicholl investigates.
Policymakers have given themselves the year to legislate around the legal complexities that have plagued both the marijuana industry and law enforcement in Oregon, Washington, Colorado, Alaska and DC. With a change in law at Federal level still looking unlikely, they have some serious difficulties to resolve when it comes to those $7 billion of cannabis cash.
From 2000 to 2005 the Philippines was ‘blacklisted’ as a ‘non-cooperative’ country and subjected to significant sanctions by the Financial Action Task Force for its failure to tackle endemic problems with transparency and traceability in its financial system.
Special Report – Treasure Island or Banana Republic? Mauritius faces tough choices about legitimacy and development
In an exclusive report for KYC360, investigative journalist Lucy Wark reflects on Mauritius’ progress in establishing itself as a legitimate financial centre and considers the challenges it faces going forwards.
KYC360 investigative reporter Clementine Wallop examines the unusual case of Zapata vs HSBC Holdings PLC. Families of several US citizens killed by Mexican drug cartels are suing HSBC under the Anti-Terrorism Act, which creates civil liability for supporters of terrorism, for the bank’s role in laundering billions of dollars of drug money.
As the EU forges ahead with a ‘fifth AML Directive’ requiring a public register of trusts, KYC360 considers what Brexit will mean for the future of the UK’s financial regulatory regime.
Special Report: CALIPHATE CASH CRUNCH: WHAT LOWER OIL PRICES AND SHRINKING TERRITORY MEAN FOR ISLAMIC STATE’S FINANCES
KYC360 investigative reporter Clementine Wallop takes a look at Islamic State’s revenue raising, its recent spending squeeze and what companies can do to protect themselves against an unusually dynamic enemy in this exclusive report.
SPECIAL REPORT: DISCONTINUANCE OF THE 500 EURO NOTE – GOOD NEWS FOR THE FIGHT AGAINST ORGANISED CRIME AND TERRORISM?
On 4 May 2016, the Governing Council of the European Central Bank (ECB) decided to discontinue the production and issuance of the EUR 500 banknote. Rob Wainwright, Director of Europol, considers whether this decision represents good news for the fight against organised crime and terrorism.
Today is the 85th anniversary of the founding of the North Korean army. Amidst concerns that the event might be marked by yet another nuclear missile test, Donald Trump on Monday urged the UN Security Council to ...
In the first of a new series of audio interviews, Amos Wittenberg speaks to Viv Jones of Eversheds Sutherland solicitors about international anti-bribery regimes. Viv wrote recently for KYC360 on Kenya's latest piece of anti-bribery legislation. https://vimeo.com/213859331 Transcript (note this transcript ...
Susan has been making her living from crime for over twenty years. She provides anti-money laundering training and advice to the regulated community in the UK, Guernsey, Jersey, the Isle of Man and Gibraltar, and ...
Barrister & leading financial crime investigator Tom Devlin offers practical guidance on creating a watertight and cost effective compliance regime. He looks at systems, employee training and continuing professional development, and the critical but often overlooked issue of corporate ...
What exactly is being proposed? A public register of the beneficial owners of UK property held by overseas companies and other legal entities. Beneficial owners of overseas firms involved in central Government procurement would also be ...
The basics of AML – knowing who your client is and where his money is from, so that you are satisfied that neither is criminal – are part of a moral code and not done just because the law says so.
Last year Russia’s oligarchs saw their collective wealth grow to an impressive $460 billion and the number of billionaires in their ranks rise from 77 to 96. This occurred despite the fact that several of these individuals, amongst them another Novatek stakeholder Gennady Timchenko and Stroygazmontazh owner Arkady Rotenberg, have been subjected to US and European sanctions since the Crimean referendum in March 2014.
North Korea is already the subject of stringent economic sanctions imposed by the UN, the EU and numerous individual states. Yet despite this, the country has managed to continue its nuclear programme and keep its economy, whilst far from thriving, more or less afloat.
Stefan Cassella of Asset Forfeiture Law, LLC comments on US v. Rivera-Izquierdo, which affirms that proceeds remain proceeds as they change form; when fraud proceeds are used to gamble, the gambling winnings become “proceeds” for purposes of money laundering under Section 1957.