Monthly Archives: October 2016

Please hold – for six months

Posted on October 28, 2016 by Susan Grossey author

The Criminal Finances Bill is out, described in the Home Office press release as “legislation to tackle money laundering and corruption, recover the proceeds of crime and counter terrorist financing”.  When it was at the consultation stage, I responded – … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged , , , , , , , , | 5 Comments

Ignorance is the worst defence

Posted on October 24, 2016 by Susan Grossey author

In Hong Kong recently, an Indonesian domestic worker who allowed a friend to use her bank account to deposit the proceeds from a loan-sharking business (which charged interest rates of 1,000%) was jailed for money laundering.  At her trial, Ms … Continue reading →

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All about prepositions

Posted on October 19, 2016 by Susan Grossey author

On 11 September 2016 (following industry consultation that said that current CDD requirements are too burdensome), the Australian Anti-Money Laundering and Counter-Terrorism Financing Rules Amendment Instrument 2016 (No. 1) came into force, amending Chapter 4 of the Anti-Money Laundering and … Continue reading →

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

Game for AML

Posted on October 14, 2016 by Susan Grossey author

At some training recently, we had finished the serious business of the day and were cruising into the home straight with a quick round of my Countries Quiz.  As I was asking people to match capital cities to countries, one … Continue reading →

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ID and me

Posted on October 10, 2016 by Susan Grossey author

I’ve just been on holiday to Italy, where – in common with many EU and other countries – it is compulsory to carry photographic ID at all times.  The only photo ID I have is my passport; my driving licence … Continue reading →

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

Bollards to money laundering

Posted on October 5, 2016 by Susan Grossey author

Like most people, I am a (very) amateur psychologist, in that I often ponder on why people do certain things.  I live in Cambridge, and the local council tries to keep traffic out of the very centre of the historic … Continue reading →

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