11th January 2019
Have you ever worked with a ‘spoilt rotten’ star trader before, watched him feted by bosses and get his or her own way – yes, even with compliance matters! What ever becomes of such an individual? A London-based compliance officer looks back, aghast, at the time he worked with such… Read More
11th January 2019
Former footballer Sam Sodje has reportedly been accused of laundering thousands of pounds after he helped fraudsters move their cash through his bank account. As part of the scheme, the fraudsters sent emails to firms in Columbia, India and Italy, purporting to be their supplier. Funds were then paid into… Read More
11th January 2019
Germany’s financial markets watchdog is requiring Deutsche Bank to re-examine the files of about 20,000 risky clients by the end of June as part of its “know your customer” process, a person familiar with the matter said on Wednesday. Deutsche Bank has come under fire for weaknesses in its procedures… Read More
10th January 2019
A member of parliament from Prime Minister Theresa May’s minority ruling Conservative Party was cleared on Wednesday of declaring false expenses during Britain’s 2015 national election in which he narrowly beat leading Brexit figure Nigel Farage. Craig Mackinlay, 52, defeated Farage, the former head of the UKIP party, to win… Read More
10th January 2019
A key element in the application of the risk-based approach (RBA) to financial crime is the identification by a firm of those countries with which its customers are closely linked and which are also adjudged to be high risk in financial crime terms. There are many lists of such high-risk… Read More
9th January 2019
Workers at some local Barclays Bank branches have been trained to detect the signs of human trafficking, the proceeds of which are commonly laundered through bank accounts. The training was part of an awareness raising initiative with anti-trafficking charity Stop the Traffik, which saw staff at Barclays branches in… Read More
9th January 2019
The U.S. case against the chief financial officer of China’s Huawei Technologies, who was arrested in Canada last month, centres on the company’s suspected ties to two obscure companies. One is a telecom equipment seller that operated in Tehran; the other is that firm’s owner, a holding company registered… Read More
9th January 2019
AP — The leaders of seven House committees are calling on Treasury Secretary Steven Mnuchin to explain why the United States is easing sanctions on companies linked to Russian oligarch Oleg Deripaska. It’s one of the first moves of the new Democratic House to scrutinize… Read More
8th January 2019
Faced with increased uncertainty in the outlook over the UK’s relationship with the EU, financial services firms have continued to relocate staff and assets away from London to Europe, in a bid to protect their clients and investors from the impact of any Brexit outcome. As of 30 November… Read More
8th January 2019
Up to 47 properties and numerous vehicles were seized in a police crackdown on a drug dealers’ network which involved investing drug money in the property market. In a joint operation between police in Spain, Italy, Argentina and Europol, almost 50 suspects were arrested regarding the gang’s activities, which… Read More