Monthly Archives: August 2015

Measuring the MLRO

Posted on August 27, 2015 by Susan Grossey author

As some of you may know, I am a magistrate. (For non-UK readers, magistrates are volunteers who hear cases in courts in their community; we deal with crimes like minor assaults, motoring offences and theft, are assisted by a legally-trained … Continue reading →

Posted in AML, Money laundering | Tagged AML, due diligence, MLRO, money laundering, training | 8 Comments

Blame where blame is due

Posted on August 25, 2015 by Susan Grossey author

If I may mix my four-legged metaphors for a moment, regular readers will know that one of my hobby horses is the use of AML legislation as a scapegoat. It makes my blood boil when people tell me that their … Continue reading →

Posted in AML, Due diligence, Money laundering | Tagged AML, due diligence, financial crime, legislation, ML Regulations, money laundering, proceeds of crime, suspicion | 6 Comments

The spoils of war

Posted on August 21, 2015 by Susan Grossey author

During AML training, I am often asked what happens to the money that is confiscated from criminals. And occasionally – usually after a local conviction – a similar question will arise around institutional penalties. When a regulator imposes a financial … Continue reading →

Posted in AML, Money laundering | Tagged asset forfeiture, due diligence, financial crime, government, HSBC, money laundering, proceeds of crime | Leave a comment

Robin Hood he ain’t

Posted on August 18, 2015 by Susan Grossey author

Last week I was listening to the “Today” programme on Radio 4, and an item came on about Joaquín “El Chapo” [Shorty] Guzmán – the Mexican drug lord who escaped from a maximum security jail in July by running through … Continue reading →

Posted in Money laundering, Organised crime | Tagged bribery, corruption, financial crime, money laundering, organised crime, proceeds of crime, tax evasion | 2 Comments

The sins of the father

Posted on August 13, 2015 by Susan Grossey author

This is a slightly unusual blog post, because I want your advice. Well, it’s on behalf of someone else. I have a friend who used to be married to a money launderer. He – the ex – is still engaged … Continue reading →

Posted in AML, Money laundering | Tagged AML, communication, financial crime, money laundering, organised crime, proceeds of crime, white collar crime | 10 Comments

The laundrette on the high street?

Posted on August 10, 2015 by Susan Grossey author

My husband is away for three weeks on a course in the Netherlands, and we had a bit of a dither about how he should take his money. As it costs a lot to get cash out of a foreign … Continue reading →

Posted in Due diligence, Money laundering | Tagged AML, due diligence, money laundering, prepaid card, proceeds of crime, Ukash | 6 Comments

Always take legal advice

Posted on August 4, 2015 by Susan Grossey author

With the intensifying of focus here in the UK on “professional enablers” – not least with the introduction of the new offence of participating in activities of organised crime group – it is salutary to read of a case involving … Continue reading →