Monthly Archives: May 2016

The golden rule

Posted on May 31, 2016 by Susan Grossey author

I know we’re all excited these days about currencies you can’t even see, but criminals are a catholic bunch: they’ll entertain any mechanism for their laundering, no matter how old-fashioned or new-fangled. And now that he is safely (hah!) in … Continue reading →

Posted in Money laundering, Organised crime | Tagged AML, due diligence, financial crime, money laundering, organised crime, proceeds of crime, suspicion | 6 Comments

An MLRO of one’s own

Posted on May 27, 2016 by Susan Grossey author

At a training session recently, someone asked me about the reporting regime in their firm, and whether they had to send their SAR via their manager. Oh no, I said – in fact, definitely don’t send it via the manager, … Continue reading →

Posted in AML, Money laundering | Tagged AML, corruption, due diligence, financial crime, MLRO, money laundering, suspicion | 6 Comments

In praise of the lecture

Posted on May 24, 2016 by Susan Grossey author

I’ve had an epiphany. I’ve been training people for a quarter of a century now – longer, if you count the innocent young minds once given over to me by the National Curriculum – and I’ve realised something important. I … Continue reading →

Posted in AML, Money laundering, Training | Tagged AML, communication, due diligence, money laundering, research, training | 4 Comments

Panama: a drop in the ocean

Posted on May 19, 2016 by Susan Grossey author

So the Panama Papers are Out There. Hands up who has gone into the database and searched on their own name…. Of course I did, with such an unusual name – not that I have ever done anything myself, you … Continue reading →

Posted in AML, Bribery and corruption, Due diligence, Money laundering | Tagged AML, disclosure, due diligence, financial crime, money laundering, non-executive directors, organised crime, Panama Papers, research, tax evasion | 5 Comments

An oversight oversight over there?

Posted on May 16, 2016 by Susan Grossey author

One of the joys of writing a blog is that it’s like having an informal team of researchers, or moles even, looking out for money laundering stories for me. I adore anti-money laundering as you know, but I’m just one … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged AML, casino, disclosure, due diligence, financial crime, gambling, Ireland, legislation, money laundering, proceeds of crime, suspicion | 4 Comments

Make mine a Jaffa Cake

Posted on May 13, 2016 by Susan Grossey author

I wonder if anyone has ever invited Rory Sutherland to be an MLRO? I ask only because several of his recent Wiki Man columns in the Spectator magazine, although ostensibly about (I think) psychology as it relates to business and … Continue reading →

Posted in AML, Due diligence | Tagged AML, communication, due diligence, money laundering, research, training | Leave a comment

Bye bye banknote

Posted on May 10, 2016 by Susan Grossey author

Usually news about banknotes focusses on their design (we’re getting Turner and the fabulous “Fighting Temeraire” on our new £20 note in 2020), their devotees (the New Zealand $5 note has just been named Banknote of the Year for 2015) or … Continue reading →

Posted in AML, Money laundering | Tagged AML, banknote, due diligence, financial crime, money laundering, organised crime, proceeds of crime, tax evasion | 6 Comments

Order, order – Unexplained Wealth Order

Posted on May 5, 2016 by Susan Grossey author

There’s nothing new under the sun, they say, and Unexplained Wealth Orders certainly comply with that dictum. On 21 April 2016 the UK government announced its action plan (these days a simple plan is not enough: it must be galvanised … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged AML, asset forfeiture, disclosure, due diligence, government, MLRO, proceeds of crime, suspicion, Unexplained Wealth Order | 1 Comment

Seek and ye shall find

Posted on May 3, 2016 by Susan Grossey author

At least once a month someone, on hearing my line of work, will have a go at me about how “money laundering” has got in the way of their opening a bank account, getting a loan, buying a house or … Continue reading →