Monthly Archives: September 2017

Regime change for the better

Posted on September 29, 2017 by Susan Grossey author

The UK Financial Conduct Authority’s Senior Managers and Certification Regime is now two years old. Under the regime (which currently applies to UK banks, building societies, credit unions, branches of foreign banks operating in the UK and the largest investment … Continue reading →

Posted in AML, Due diligence, Money laundering | Tagged AML, financial crime, legislation, MLRO, money laundering, regulator | Leave a comment

Outside the tent

Posted on September 25, 2017 by Susan Grossey author

Regulation has been on my mind lately – and doubly so since the decision last Friday by Transport for London not to renew the private hire licence for “ride-hailing app firm” Uber. Not that I’m affected personally – I’ve never … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged AML, Bitcoin, due diligence, financial crime, legislation, ML Regulations, money laundering, organised crime, proceeds of crime, regulation, regulator | Leave a comment

A call to arms

Posted on September 20, 2017 by Susan Grossey author

I’ve been in two minds whether or not to do this blog post, as I don’t want to upset anyone, and I can’t think of a particularly clever way to disguise who I am talking about. Let’s just say that … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged AML, communication, due diligence, financial crime, government, guidance, legislation, MLRO, money laundering, proceeds of crime, regulation | 1 Comment

EU, FIUs, STRs and AML

Posted on September 15, 2017 by Susan Grossey author

Last week Europol – or, more fully, the European Union Agency for Law Enforcement Cooperation – published a report entitled “From Suspicion to Action – Converting financial intelligence into greater operational impact”. The report examines the AML framework within the … Continue reading →

Posted in AML, Money laundering, Publications | Tagged AML, communication, Europol, financial crime, government, money laundering, organised crime, proceeds of crime, publications | 2 Comments

In the penalty box

Posted on September 11, 2017 by Susan Grossey author

What is it about football and money laundering? I don’t mean the obvious sort – buying football clubs and trading players as a front for moving criminal money around – but rather what makes footballers and manager so susceptible to … Continue reading →

Posted in AML, Money laundering | Tagged AML, corruption, due diligence, financial crime, money laundering, proceeds of crime, suspicion | 7 Comments

I’ll tell you what I want, what I really, really want

Posted on September 6, 2017 by Susan Grossey author

Regular readers will know that when it comes to consultations, I am Pavlov’s respondent: tell me you want my opinion and I’m slavering to give it. Indeed, so regular is my participation that I have a whole email folder entitled … Continue reading →

Posted in AML, Money laundering, Publications, Uncategorized | Tagged AML, consultation, FCA, Gambling Commission, GFSC, guidance, HM Treasury, JMLSG, legislation, money laundering | 3 Comments

A family business

Posted on September 1, 2017 by Susan Grossey author

I think I have written before about crime – including money laundering – often being a family business. There are many advantages: for instance, there is absolute loyalty (twice over: blood and business), and there is nothing suspicious about the … Continue reading →