Monthly Archives: August 2016

A welcome mat for money launderers

Posted on August 30, 2016 by Susan Grossey author

For some months, a Home Affairs Select Committee of the UK parliament, under the chairmanship of Keith Vaz MP, has been taking evidence about the effectiveness of the UK’s proceeds of crime regime. It has not been a happy story, … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged AML, asset forfeiture, due diligence, financial crime, government, legislation, proceeds of crime, Proceeds of Crime Act, SARs | 1 Comment

Potential publication: your views, please

Posted on August 27, 2016 by Susan Grossey author

This is not like my usual blog posts, which is why it is appearing at the weekend. I have had an idea for another AML project – you know how I love a juicy AML project – and I want … Continue reading →

Posted in AML, Money laundering, Publications | Tagged AML, communication, due diligence, financial crime, government, money laundering, organised crime, proceeds of crime, publications | 7 Comments

The forgotten victims

Posted on August 24, 2016 by Susan Grossey author

Sometimes, what with all the law and policies and procedures, it is easy to forget that every money laundering or white collar crime case is about people. Whether they are the perpetrators or the victims, the laundering or other crime … Continue reading →

Posted in General thoughts, Money laundering | Tagged communication, disclosure, financial crime, fraud, money laundering, proceeds of crime, tax evasion | Leave a comment

When is money laundering not money laundering?

Posted on August 19, 2016 by Susan Grossey author

When it’s not money, of course. In a recent case, a judge in Florida declared that bitcoin is not money, and therefore that the man who was accused of selling it to an undercover detective who said that he wanted … Continue reading →

Posted in Due diligence, Money laundering | Tagged AML, Bitcoin, due diligence, legislation, money laundering, organised crime, proceeds of crime | 3 Comments

The luxury of dithering

Posted on August 16, 2016 by Susan Grossey author

So here I am, back from my summer writing retreat, and normal blogging has resumed. It was quite a relief to be out of the country – in Switzerland, to be precise – and get away from all the Brexit … Continue reading →

Posted in AML, Legislation, Uncategorized | Tagged AML, financial crime, government, legislation, ML Regulations, MLD4, MLRO, money laundering, PEP, training | Leave a comment

A matter of administration

Posted on August 12, 2016 by Susan Grossey author

Recently I watched the film “The Fifth Estate”, about WikiLeaks and Julian Assange – and, along the way, also about the nature of privacy, the meaning of security and the impact of hypocrisy. The Panama Papers have raised similar issues, … Continue reading →

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

Bolting the stable door

Posted on August 5, 2016 by Susan Grossey author

When I was little I lived in Newmarket, and my mum was the secretary at a trainer’s yard, so I spent a lot of time in the yard “helping” the farrier and – my favourite bit – siting in the … Continue reading →