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Compliance

Covid-19: An Opportunity for Money Launderers

10-06-2020 Compliance

Covid-19: An Opportunity for Money Launderers

As the global pandemic continues, most people are busy trying to figure out how to keep doing their jobs in this strange new world of lockdowns and social distancing. Unfortunately, money launderers are no different and financial crime shows no signs of slowing during the crisis.
Cryptocurrency Scams: Where There’s Confusion, There Are Money Launderers

31-03-2020 Compliance

Cryptocurrency Scams: Where There’s Confusion, There Are Money Launderers

I was listening to this podcast recently about the cryptocurrency scam OneCoin, and it got me thinking about how the rise of cryptocurrency has opened up a whole new world for money launderers.
5AMLD Compliance: Estate Agents Must Act Now

03-03-2020 Compliance

5AMLD Compliance: Estate Agents Must Act Now

The Fifth EU Anti-Money Laundering Directive (5AMLD) was written into UK law on the 10th of January 2020. The property sector – long considered a safe haven for criminals looking to legitimise wealth – is among those industries being addressed by the new legislation.
Fake It Until You Make It: The Role of Art Forgeries in Money Laundering

20-02-2020 Compliance

Fake It Until You Make It: The Role of Art Forgeries in Money Laundering

For many, art forgery is something that only impacts the super-rich and is often seen as a victimless crime. But it actually forms a cornerstone of international money laundering rings, supporting criminal gangs and terrorist groups and taking billions of pounds out of the UK economy every year.
Onboarding in Insurance: An Opportunity to Build Competitive Advantage with Red Flag Alert

02-01-2020 Compliance

Onboarding in Insurance: An Opportunity to Build Competitive Advantage with Red Flag Alert

The insurance market is increasingly competitive, with customers constantly on the lookout for a better deal and improved service.

In this environment every possible advantage is critical – a key differentiator we’re going to look at in this article is onboarding because an efficient onboarding process has huge benefits.
The Money Launderer’s Playbook

09-12-2019 Compliance

The Money Launderer’s Playbook

Money laundering is getting a lot of publicity lately. Just last week, ten suspected members of an organised crime group were arrested on suspicion of flying over £15m out of the UK, while last year, Zamira Hajiyeva became the subject of the UK’s first ever Unexplained Wealth Order (UWO), after spending an eye-watering £16m in Harrods.
New report reveals the scale of UK money laundering

27-11-2019 Compliance

New report reveals the scale of UK money laundering

Recently the media has been alive with high-profile stories relating to money laundering.

From the seizure of a £1 million diamond ring to London property agencies being issued with large fines, authorities in both the UK and further afield are beginning to crack down on corruption and failures to meet Anti-Money Laundering regulations.
The Fifth Anti‐Money Laundering Directive: Three Priorities with Three months to go

10-10-2019 Compliance

The Fifth Anti‐Money Laundering Directive: Three Priorities with Three months to go

International efforts to tackle corruption are gaining momentum. The Fifth Anti‐Money Laundering Directive (5AMLD) is the latest step in a process driven by the intergovernmental Financial Action Task Force (FATF), and EU and UK lawmakers.

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