Failure to Prevent Offence – A Jersey thing
In an effort to enhance its overall anti-money laundering (AML) effectiveness, Jersey introduced a new offence under Article 35A of the Proceeds of Crime (Jersey) Law 1999 (the Law). Inspired […]
Webinar Recording: How Ready Are You for The FCA’s New Consumer Duty Rules?
In July 2022, the FCA published its policy statement, PS22/9 – A new Consumer Duty, in which they introduced new rules to ensure financial services firms recognise the impact their […]
Webinar recording – What firms need to know about a REP-CRIM submission
A few months ago, the FCA extended its existing annual financial crime reporting obligation (termed the “REP-CRIM” by the FCA) to a broader range of firm types. This change brought […]
Second Financial Crime Case Study: Insurance Fraud
Further to our article of 16/08/2022 where we reported news of a Yorkshire man receiving a 12-month prison sentence after pleading guilty to three counts of fraud by false representation, […]
Serious Fraud Office Annual Report
Published in mid-July 2022, the Serious Fraud Office’s (SFO) Annual Report and Accounts for 2021/2022, makes for a very interesting read. The report includes an insight into the purpose and […]
FCA Reflects On Operational & Cyber Resilience In Light Of Russian Invasion Of Ukraine
Updated in late July 2022, the Financial Conduct Authority (FCA) has laid out the steps a firm should consider regarding its operational and cyber resilience systems and controls following Russia’s […]
Deutsche Bank Settling For A €7million Fine After Frankfurt Prosecutors 701 Cases Of Failed Reports
As a requirement of jurisdictional law, obliged firms such as banks and other financial institutions (firms) are required to file suspicious activity reports (SARs) with their local financial intelligence unit/law […]
3 Financial Crime News Stories You May Have Missed This Week
The UK’s Anti Money Laundering Guidance has been updated The UK’s Anti Money Laundering Guidance has been updated, resulting in clarification for Art Market Participants (AMPs) on who its customers […]
Monitoring & Reporting Suspicious Activity Case Study
American multinational investment bank and financial services corporation Citigroup has been in the bad books of regulators for quite a few years now it seems. In 2019, the Bank of […]
Crypto Regulation & Compliance Roundup
Under construction: The EU is building a new AML regulator that will oversee crypto businesses While the attention of the crypto industry, in the EU, has focused on the Markets […]