The Serious Fraud Office, the UK's specialist enforcement agency for complex fraud and corruption, today charged Barclays Plc and some of the bank's top executives with fraud and unlawful financial assistance. Read More
Stefan Cassella of Asset Forfeiture Law, LLC summarises a recent case, in which it was found that the United States may bring a civil forfeiture action to recover criminal proceeds found in a foreign bank account if there is extraterritorial jurisdiction over the offense giving rise to the forfeiture. Read More
Two former compliance officers made headlines in the UK this week, for very different reasons. Read More
White payments are the salaries declared in an employee’s contract. Black payments escape documentation entirely, often coming in the form of illegal cash payments “in envelopes,” or “v konverte,” as the Russian saying goes. Ultimately, many companies end up paying grey salaries—a combination of the two. Read More
In many respects, the Guernsey AML regime takes a more pragmatic, more workable and indeed more demanding approach than that of the UK.  But in one key area the Guerns have it wrong, and those who are reading this will know what I am going to say.  Yes, it’s their definition of PEPs. Read More
In Nigeria, ranked 136th out of 176 countries on Transparency International's most recent Corruption Perception Index, petty corruption is a feature of everyday life. But in 2015, charismatic former general Muhammadu Buhari won the Presidency on an anti-corruption ticket. Read More
As the string of unexpected election results continues to unravel, it takes a bit of chutzpah to persevere with political predictions. But the KYC360 team is undeterred. Here, tentatively, are our collective observations on what the outcome of the 2017 UK General Election might mean for financial crime prevention professionals. Read More
Financial crime reportedly costs the UK economy £52bn every year. Research both from the 1980s and more recently, from 2008 (before the global financial crisis), evidences broad support for harsh punishment for financial crime. Is there a gap in the electoral market? Read More
Stefan Cassella of Asset Forfeiture Law, LLC analyses a recent judgement which found that the transfer of fraud proceeds from one foreign country to another, through a US correspondent bank account, may serve as the specified unlawful activity for international money laundering. Read More
It is now a criminal offence in the UK for businesses to fail to prevent any ‘associated person’ working on their behalf from helping a third party evade tax. Read More