Monthly Archives: August 2013

Sledgehammer or Nutcracker?

Posted on August 29, 2013 by Susan Grossey author

Back in April 2013, Vladimir Putin’s chief of staff Sergei Ivanov held a rare Kremlin news conference to announce measures related to a drive to “de-offshore” the Russian economy – a term used by Putin in his state of the nation … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged AML, asset forfeiture, corruption, disclosure, due diligence, financial crime, government, legislation, money laundering, organised crime, proceeds of crime, tax evasion, white collar crime | 2 Comments

Unmasked – the identity impersonators

Posted on August 27, 2013 by Susan Grossey author

With all the news stories about cybercrime and online identity theft, it is easy to forget that criminals are still using the old physical methods of impersonation with great success. A recent story about driving test cheats shows the lengths … Continue reading →

Posted in Due diligence, Money laundering, Organised crime | Tagged communication, due diligence, financial crime, money laundering, organised crime, proceeds of crime, suspicion, white collar crime | Leave a comment

The devil you know

Posted on August 22, 2013 by Susan Grossey author

Last weekend I was in Edinburgh and – trying to escape the festival hordes – I ducked down into Princes Street Gardens. Despite the aforementioned hordes, the gardens were immaculate – every lawn edge clipped, every flowerbed weeded and every … Continue reading →

Posted in AML, Money laundering | Tagged AML, communication, due diligence, ML Regulations, MLRO, money laundering, PEP, research, suspicion, training | Leave a comment

Practising your scales

Posted on August 19, 2013 by Susan Grossey author

Pain is very hard to describe. My sister-in-law, for instance, recently went to the dentist and was told that the abscess in her tooth should have left her howling and writhing on the floor. “It’s a bit sore,” she admitted, … Continue reading →

Posted in AML, Money laundering | Tagged AML, communication, disclosure, due diligence, MLRO, money laundering, research, suspicion, training | Leave a comment

Say it isn’t so

Posted on August 15, 2013 by Susan Grossey author

You know that I love MLROs. They are quite possibly my favourite people in the world – apart from Donny Osmond, of course. And Victoria Wood, particularly in “dinnerladies”. I digress. MLROs do a difficult job in adverse circumstances, often … Continue reading →

Posted in AML, Due diligence, Money laundering | Tagged AML, communication, disclosure, due diligence, financial crime, MLRO, money laundering, Money Laundering Reporting Officer, organised crime, white collar crime | 6 Comments

God and Mammon

Posted on August 13, 2013 by Susan Grossey author

Over the summer, we have had something of a masterclass in the interaction between church and money. First, the Archbishop of Canterbury, Justin Welby, announced that he was keen to help non-profit lenders, such as credit unions, compete with payday … Continue reading →

Posted in Bribery and corruption, Money laundering, Organised crime | Tagged Camorra, corruption, financial crime, mafia, money laundering, organised crime, PEP, proceeds of crime, tax evasion, white collar crime | 2 Comments

When in Rome, or Beijing, or Bordeaux

Posted on August 9, 2013 by Susan Grossey author

You know how, when you ask someone how far it is to somewhere, they often give a distance and then add “as the crow flies”. Which would be fine, if you were a crow – which I assume you’re not, … Continue reading →

Posted in Money laundering, Organised crime | Tagged corruption, due diligence, financial crime, money laundering, organised crime, PEP, proceeds of crime, tax evasion, white collar crime | 2 Comments

No excuse for bad behaviour

Posted on August 7, 2013 by Susan Grossey author

As I mentioned a few days ago, the UK’s Sentencing Council – the body which produces sentencing guidelines for the UK courts – is currently running a consultation on guidelines for the offences of fraud, bribery and money laundering. Yesterday … Continue reading →

Posted in Legislation, Money laundering | Tagged bribery, corruption, financial crime, fraud, government, legislation, money laundering, organised crime, proceeds of crime, tax evasion | 3 Comments

My e-publishing adventure – part 17

Posted on August 5, 2013 by Susan Grossey author

I think it’s probably time to knock this occasional series of posts on the head – after all, Part 17 is quite a lot, isn’t it? But I thought that one more update was in order, as over the weekend … Continue reading →

Posted in AML, Money laundering, Publications | Tagged AML, communication, due diligence, financial crime, MLRO, money laundering, non-executive directors, publications, Suspicious Activity, writing | Leave a comment

Now that’s what I call a service charge

Posted on August 1, 2013 by Susan Grossey author

And so we wait. I may have mentioned, oh, a few hundred times that back in March I attended a conference in Brussels (at the EC! Yes, the EC!) on money laundering – and specifically on the revised FATF Recommendations … Continue reading →