Monthly Archives: June 2014

Calling time out on AML outsourcing?

Posted on June 27, 2014 by

On 19 June 2014 – and after plenty of rumours – the Guernsey Financial Services Commission issued a public statement about a local fiduciary firm, Willow Trust Limited.  Although still not as detailed as the notices issued by, for instance, … Continue reading →

Posted in AML, Due diligence, Money laundering | Tagged , , , , , | 4 Comments

Beating a (short) retreat

Posted on June 23, 2014 by

This post is by way of a (very) temporary farewell.  Some of you may remember that last summer I published my first novel, “Fatal Forgery”.  (If by some fluke you have missed it, here it is on Amazon, with some lovely … Continue reading →

Posted in Money laundering, Publications | Tagged , , , , , | 5 Comments

Baby Bitcoin steps

Posted on June 20, 2014 by

Most humans are the same: we claim to seek and foster change, but when it happens, we’re cautious (and often divided) about how to deal with it.  Digital currencies, for instance.  Last week, the Isle of Man government announced that it … Continue reading →

Posted in AML, Due diligence, Money laundering | Tagged , , , , , , , , | 2 Comments

Sharing nicely

Posted on June 17, 2014 by

We all have words that we hate.  I have one friend who is unable to say the word “pamphlet” without grimacing, and another who loathes “gusset”.  Personally I have two lexicographical pet peeves (yes, that’s me: always spoilt and demanding more).  The first … Continue reading →

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Taking our cue from corruption

Posted on June 16, 2014 by

Following on from my post last week about common sense, I was interested to read about professional snooker player Stephen Lee pleading guilty to fraud on 9 June.  It was a simple enough case (he sold one of his cues … Continue reading →

Posted in AML, Bribery and corruption, Due diligence | Tagged , , , , , , , , | 2 Comments

If only common sense were more common

Posted on June 12, 2014 by

Stories about Phuket always get a snigger, but one caught my eye this week because it illustrates so well a basic AML skill that we all have (well, should all have): common sense.  The Phuket News (enough sniggering now, thank … Continue reading →

Posted in AML, Due diligence, Money laundering | Tagged , , , , | 2 Comments

Victim mentality

Posted on June 10, 2014 by

At the end of May, and following a consultation process in which I participated with much pleasure and about which I blogged here, the UK’s Sentencing Council issued its definitive guideline on sentencing for offences of fraud, bribery and money … Continue reading →

Posted in Legislation, Money laundering | Tagged , , | Leave a comment

P-p-p-pick up a passport

Posted on June 6, 2014 by

Rightly or wrongly, given the apparent ease with which you can buy a fake one these days, the passport is still viewed as the primary document for CDD.  (I’ve occasionally considered buying one myself, in order to get rid of … Continue reading →

Posted in AML, Due diligence | Tagged , , , , , | 2 Comments

A blind eye for art

Posted on June 4, 2014 by

Some years ago, I was asked to do some AML training for a well-known art auction house.  I remember two things about the day: I was by far the shortest and fattest woman in the place, and everyone spoke in … Continue reading →

Posted in Money laundering | Tagged , , , , , , , | 4 Comments

A brace of own goals

Posted on June 2, 2014 by

Doing a quick search through my blog posts (you can do it yourself, over there on the right – that’s it, scroll down until you find the Search box, just above the golden piggy) I see that I have written … Continue reading →

Posted in AML, Bribery and corruption, Money laundering | Tagged , , , , , , | 2 Comments