Monthly Archives: April 2015

Does AML get your vote?

Posted on April 30, 2015 by Susan Grossey author

I am taking a holiday and hence a break from blogging for a fortnight from today, so I thought I would leave you with a topical post: what are the various UK parties proposing about money laundering (or even anti-money … Continue reading →

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

Lifelong learning

Posted on April 27, 2015 by Susan Grossey author

One of the benefits of the AML/CFT mutual evaluation regime is its reiterative nature – the fact that countries are visited, given a report with suggestions for improvement, and then revisited.  Between visits, governments submit progress reports to keep the … Continue reading →

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

The fairer sex

Posted on April 23, 2015 by Susan Grossey author

And in this context, “fairer” might just mean more honest and less corrupt.  In a recent index published by an American provider of, well, indices, it was revealed that companies with a higher-than-average proportion of women on the board are … Continue reading →

Posted in Bribery and corruption, Due diligence | Tagged , , , , , , , | 6 Comments

And definitely do not collect £200

Posted on April 21, 2015 by Susan Grossey author

So now we have a date: the UK’s new Senior Managers’ Regime will come into force by 7 March 2016.  It is part of an attempt to strengthen accountability in banking (no need to explain why this might be necessary) … Continue reading →

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

Dreadful uncertainty

Posted on April 17, 2015 by Susan Grossey author

I was lying in the bath with Rory Sutherland the other day – he’s a columnist for the Spectator, and I like a magazine while soaking – and something that he wrote has been playing on my mind ever since.  … Continue reading →

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

The plank in your own eye

Posted on April 15, 2015 by Susan Grossey author

As I was writing my previous blog post, a little thought tweaked at the corner of my mind.  It’s not terribly well-formed (either the thought, or indeed the mind), but here goes.  I was thinking about PEPs and monitoring, and … Continue reading →

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

Shading the shady

Posted on April 13, 2015 by Susan Grossey author

On 1 April 2015, updated AML legislation came into force in the Isle of Man.  (No, I don’t know why anyone would choose that particular day to bring anything into force.)  The 2015 version of the Code (as they have … Continue reading →

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

PoCA always knocks twice

Posted on April 9, 2015 by Susan Grossey author

A couple of weeks ago someone sent me a link to a heart-warming story of corruption, money laundering and revenge.  Back in 2005, Sharon Millard of Wolverhampton was sent to prison for six months after being found guilty of laundering … Continue reading →

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Wonky perceptions of risk

Posted on April 7, 2015 by Susan Grossey author

I’ve been mulling, as you do, and I’m a bit concerned about the Corruption Perceptions Index published annually by Transparency International.  It is a fine index, to be sure, and one I consult regularly myself, but it’s not the answer … Continue reading →

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

Without AML, you’re nothing

Posted on April 2, 2015 by Susan Grossey author

A kind reader in Ireland has pointed out to me this recent case (I’m sure you’re all on top of it, but what with the dizzy promise of Easter eggs this weekend, it quite escaped my notice).  At the heart … Continue reading →

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