Monthly Archives: February 2014

Middle-aged men still in danger

Posted on February 28, 2014 by Susan Grossey author

Back in November 2012, the campaigning organisation Action Fraud garnered some excellent headlines for its research by revealing that the people most likely to fall for investment scams are over-confident men aged between 36 and 55. Although there are still … Continue reading →

Posted in AML, Fraud, Money laundering | Tagged AML, due diligence, financial crime, fraud, money laundering, organised crime, proceeds of crime, white collar crime | 2 Comments

GSOH and banking job

Posted on February 26, 2014 by Susan Grossey author

A client recently asked me to include in their training for front-office staff a comforting reminder about SARs. Comforting? Well, they wanted their staff to know that the subject of a SAR will never know who dobbed them in, and … Continue reading →

Posted in AML, Due diligence, Money laundering | Tagged AML, due diligence, financial crime, money laundering, proceeds of crime, training | 7 Comments

Sentence first, verdict afterwards

Posted on February 24, 2014 by Susan Grossey author

Ah, you’ve got to love the Queen of Hearts and her unique grasp on judicial process. Some months ago I mentioned that I had responded to a consultation by the UK’s Sentencing Council on proposed guidelines for corporate offences of … Continue reading →

Posted in AML, Bribery and corruption, Legislation, Money laundering | Tagged AML, bribery, financial crime, fraud, government, legislation, money laundering, non-executive directors, proceeds of crime | 3 Comments

Clouded judgment

Posted on February 20, 2014 by Susan Grossey author

Sometimes I don’t know my own strength. There was that time I stamped on a box of After Eights in frustration at not being able to peel off the easy-peel cellophane. And now the US government has hupped-to at my … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged AML, due diligence, financial crime, legislation, money laundering, proceeds of crime, training | 4 Comments

Grubby around the collar

Posted on February 18, 2014 by Susan Grossey author

This year marks the 75th birthday of a concept that is central to those of us engaged in AML endeavours: white collar crime. On 27 December 1939, American sociologist Edwin Sutherland gave a speech to the American Sociological Association, of which … Continue reading →

Posted in AML, Money laundering, White collar crime | Tagged AML, corruption, financial crime, money laundering, organised crime, proceeds of crime, tax evasion, white collar crime | 4 Comments

Can’t buy me love

Posted on February 14, 2014 by Susan Grossey author

You know how I like to mark all the major festivals (Administrative Professionals’ Day and International Mother Language Day are obvious highlights), so it would be remiss of me to let today pass without talking about lurve. And specifically, of … Continue reading →

Posted in AML, Fraud, Money laundering, Organised crime | Tagged AML, due diligence, financial crime, fraud, money laundering, organised crime, proceeds of crime, suspicion, white collar crime | 1 Comment

Fun and games

Posted on February 12, 2014 by Susan Grossey author

Some years ago, I designed a money laundering simulation game called WhiteWash. It was a card-based game for use in training sessions. In essence, I divided people into groups, gave them a set of cards (featuring jurisdictions, institutions and people) … Continue reading →

Posted in AML, Money laundering, Training | Tagged AML, communication, due diligence, financial crime, money laundering, proceeds of crime, training, WhiteWash | Leave a comment

If you can fake sincerity, you’ve got it made

Posted on February 10, 2014 by Susan Grossey author

I wrote about the underestimated dangers of counterfeiting just before Christmas, and the topic has once again been under discussion in Grossey Mansions. On a recent episode of “Fake or Fortune?” (which I watch avidly, as Fiona Bruce has my … Continue reading →

Posted in AML, Money laundering | Tagged AML, counterfeit, counterfeiting, due diligence, financial crime, ML Regulations, money laundering, organised crime, research, suspicion, white collar crime | Leave a comment

Should we really employ an evil genius?

Posted on February 6, 2014 by Susan Grossey author

A recent article in the Economist, entitled “Mwahahaha…: creativity and cheating“, describes some research undertaken at Harvard and the University of Southern California. Participants were given tasks to test their honesty, and then different ones to assess their creativity. And … Continue reading →

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

Better late than corrupt

Posted on February 4, 2014 by Susan Grossey author

Some of my more dedicated readers may remember that about a year ago I was working myself up into a fizz of anticipation, as I was invited to a conference in Brussels on 15 March 2013 at which the EU … Continue reading →