News & Analysis as of

Money Laundering Information Reports

WilmerHale

The Good, The Bad And The New Of The UK Sanctions Regime

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Almost six years have passed since the introduction of the UK Sanctions and Money Laundering Act, and two years since Russia's invasion of Ukraine, which was a watershed moment for the UK sanctions regime. Against the...more

WilmerHale

FCA - Financial Crime Focus Areas for 2024

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“Stopping financial crime requires a collective effort...we will be more proactive in our supervision. Where we detect harm or UK-wide financial crime vulnerabilities, we will continue to share intelligence with our partners...more

BCLP

FCA’s thinly veiled warning to challenger and traditional retail banks over financial crime risk

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On 22 April 2022, the FCA published the findings of its review of financial crime controls at six relatively new and primarily digital challenger banks that all offer similar products to traditional retail banks. These six...more

BCLP

The Economic Crime Bill: what is it and how much might change?

BCLP on

The House of Commons Treasury Committee recently published their Eleventh Report of Session 2021–22 (the “Report”). In addition to identifying key gaps in the Government’s response to economic crime, the Report makes a number...more

WilmerHale

W.I.R.E Debates: Law Commission Proposals on Suspicious Activity Reporting

WilmerHale on

The UK Law Commission has published a report criticising existing anti-money laundering legislation and providing recommendations to improve the quality of Suspicious Activity Reports (SARs).  What should we make of these...more

WilmerHale

UK “Outsourcing Corporate Financial Crime Enforcement to the US”, Claims Corruption Watch

WilmerHale on

Corruption Watch UK has claimed that “a company committing economic crime in the US is far more likely to be hit with criminal, civil and regulatory penalties than one in the UK.” In a hard-hitting report published on 5 March...more

WilmerHale

The FCA's First Annual Financial Crime Survey Results

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On 13 November 2018 the UK Financial Conduct Authority (FCA) published its inaugural report analysing data gathered from over 2,000 firms - including all UK-based banks and building societies - in response to the FCA’s first...more

A&O Shearman

Financial Action Task Force Publishes Report on Professional Money Laundering

A&O Shearman on

The Financial Action Task Force has published a report on professional money laundering. The report is intended to assist authorities to target professional money launderers and the structures that they set up and use to...more

Goodwin

Financial Services Weekly News - September 2015

Goodwin on

Regulatory Developments - California Department of Business Oversight Permits Money Transmitter to Treat Customer Funds in Designated Custodial Account as “Eligible Securities” - The California Department of...more

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