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AML

Crisis at Binance: Embattled CEO CZ hires ex-regulators while cooperating with international cops

18/02/2022 1 Comment

it’s been five months since Binance froze millions in crypto belonging to 150 Colombian accounts, at the behest of the Dutch Attorney General.

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money laundering

AMLA matters: EU presents anti-money laundering package

26/07/2021 1 Comment
Attention will focus on a much-trailed new body: the EU Anti-Money Laundering Authority (AMLA) – totemic of a tougher and better co-ordinated EU approach, as ...
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FIS launches first in a new series of AI-enabled risk solutions with C3 AI for financial services industry

17/06/2021 No Comments
Financial technology leader FIS today announced the first in a new series of solutions developed in partnership with C3 AI to help capital markets firms ...
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NatWest’s Unwelcome Surprise for the City of London

16/03/2021 1 Comment
The FCA alleges that increasingly large cash deposits were made into the customer’s accounts. It is alleged that around £365 million was paid into the ...
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Banks on the hitlist for UK’s anti-money laundering crusade

It is easy to see why, in the context of the UK, such a law may be needed. Of the more than 460,000 Suspicious Activity Reports sent by UK banks to the UK Financial Intelligence Unit in recent years for suspicious transactions, the government’s Law Commission concluded that many were of “low-quality” and that many banks had a poor understanding of their reporting obligations, reporting less to assist the authorities than to avoid a law suit.

Talking dirty: the EU talks tough on AML

“US authorities have dominated the global AML landscape through the imposition of numerous huge fines for AML failings. But that has changed somewhat in recent years - US fine amounts have fallen while other jurisdictions, particularly in Europe, have imposed very large fines of their own,” explains Duff & Phelps’ head of UK regulatory consulting Nick Bayley.
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