Monthly Archives: March 2015

The FCA rows into high risk waters again

Posted on March 30, 2015 by Susan Grossey author

An eagle-eyed reader in Guernsey (thanks, Guy) was perusing the FCA’s recent Final Notice on the Bank of Beirut, and spotted this in paragraph 2.8: “The [FCA] therefore imposes on Bank of Beirut: (1) [a fine]; and (2) a restriction … Continue reading →

Posted in AML, Due diligence, Money laundering | Tagged , , , , , , , | 6 Comments

A common language – and a common crime

Posted on March 27, 2015 by Susan Grossey author

One of my top reads of the year is, no, not the “Robin Ellis as The One True Poldark Bumper Christmas Annual (with free stick-on dashing facial scar)”, but the “International Narcotics Control Strategy Report” from the US Department of … Continue reading →

Posted in AML, Money laundering, Publications | Tagged , , , , , , , | Leave a comment

The FCA’s to do list for this year

Posted on March 25, 2015 by Susan Grossey author

This week the UK’s Financial Conduct Authority has looked into its crystal ball and published its “Business Plan 2015/16”.  Whereas previous editions of this document were accompanied by a Risk Outlook, this time the two have been united into one … Continue reading →

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

Wham, bam, no AML, ma’am

Posted on March 23, 2015 by Susan Grossey author

Some while ago I wrote about a draft of the Fourth Money Laundering Directive that had sneaked in a much-extended definition of “high value dealers”.  What this earlier draft said was that HVDs would be “other natural or legal persons … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged , , , , , , , , | 11 Comments

You’ve got to pick a passport or two

Posted on March 19, 2015 by Susan Grossey author

There has been a lot in the news recently about passports, and I realised that although I of course understand the basics of the document, there are certain key things that I do not know – and knowing them would … Continue reading →

Posted in AML, Due diligence | Tagged , , , , , , , | 7 Comments

Most wanted

Posted on March 17, 2015 by Susan Grossey author

I’m not allowed to watch “Crimewatch”; my husband says that what with the money laundering and the magistracy and the financial crime fiction, I’m too obsessed with crime as it is.  He has a point.  But when he’s away, I … Continue reading →

Posted in Due diligence, Money laundering, Organised crime | Tagged , , , , , , , , , , , | 5 Comments

Boom-diddy-boom

Posted on March 13, 2015 by Susan Grossey author

Just a quickie today, as I wasn’t planning to post anything, but a story on the radio this morning made me prick up my little AML ears.  Apparently the Halifax bank here in the UK is trying out some new … Continue reading →

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

Due diligence diligence

Posted on March 12, 2015 by Susan Grossey author

As some readers may know, I am a magistrate in my home city of Cambridge.  (For non-UK readers, you can read about the magistracy here.)  Last week I did a day of training to make me a more effective magistrate, … Continue reading →

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

Calling for consent

Posted on March 10, 2015 by Susan Grossey author

You know what a stickybeak I am – if anyone asks, even very quietly, for an opinion on anything to do with money laundering or AML, I’m in there.  At the moment the UK government is running a very low-key … Continue reading →

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Money laundering and perversion

Posted on March 6, 2015 by Susan Grossey author

(There: I bet that title caught your attention.)  My husband (silver-tongued devil that he is) says that when it comes to money laundering, I am like a truffling pig: I root around everywhere for it.  And I must confess that … Continue reading →

Posted in Legislation, Money laundering | Tagged , , , , , , , | 1 Comment