Author Archives: ihatemoneylaundering

Salvator emptor

The recent record-breaking sale of “Salvator Mundi” highlighted two things – one a surprise, and the other not.  The surprise was that this is the most expensive painting by Leonardo Di Caprio that has ever been sold.  I kid you … Continue reading

Posted in AML, Due diligence, Money laundering | Tagged , , , , , , , | Leave a comment

Paradise polluted

Last week I went to a new gathering of people (oh, go on, you forced it out of me: I’ve joined the Women’s Institute) and when they asked what I do and I gave the potted description, several of them … Continue reading

Posted in AML, Legislation, Tax | Tagged , , , , , , , , | 9 Comments

Big worries about small accounts

The news has been full in recent days of the financial activities of the “super-rich” and fiscally sophisticated.  (That’s my phrase, that last bit, but I can imagine it catching on.  Who knows: we might even start talking about the … Continue reading

Posted in AML, Due diligence, Money laundering | Tagged , , , , , , , , | Leave a comment

The Beemer and the Batboat

I have written before about the fate of items confiscated from money launderers. Often, of course, the assets have gone: the money has been spent on consumables such as fine wines and fancy holidays.  But criminals do like to surround … Continue reading

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

The UK’s reporting report card

Well, we in the UK are streets ahead of our EU neighbours in one regard at least: the number of SARs we submit to our FIU.  At the start of September, Europol published a report entitled “From Suspicion to Action: … Continue reading

Posted in AML, Legislation | Tagged , , , , , , , , | 3 Comments

Laying the (shaky) foundations

No-one who has heard me speak or read my blog will be surprised to hear that I am a devout Remainer.  As someone whose parents had vivid memories of (and occasional nightmares about) the Second World War and its aftermath, … Continue reading

Posted in AML, Legislation, Money laundering | Tagged , , , , , , , | 4 Comments

What’s in a name?

Name changes are a tricky thing.  Remember when Royal Mail decided to call itself Consignia?  That lasted for about a year until it was quietly shelved.  (Mind you, Brad’s Drink was renamed Pepsi-Cola in 1898, and that seems to have … Continue reading

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

Maman’s the word

I know that AML and CFT go together.  I’m not convinced that they belong together, but I am swimming against the tide, which seems to favour putting all financial crime into the same category.  And so I am careful to … Continue reading

Posted in Due diligence, Terrorist financing | Tagged , , , , | 8 Comments

Riches beyond imagination

If you were asked to prove where all of your assets have come from, could you do it?  For myself, I have the mortgage documents for the house, and the original receipt for my car (bought for £4,950 cash in … Continue reading

Posted in AML, Bribery and corruption, Legislation | Tagged , , , , , , , , , , , | 3 Comments

Plea for proof

Over two decades of AML training, I have heard many questions over and over again.  I don’t mind this at all, and I like to think that I have refined my answers so that they are more succinct and helpful.  … Continue reading

Posted in AML, Due diligence, Regulation | Tagged , , , , | 4 Comments