Category Archives: Supervision

This may be the word of the Lord

The Autorità di Informazione Finanziaria (AIF – the Vatican City’s FIU) has today published its first annual report, covering 2012.  You can see it here – and if you’re not feeling particularly Mediterranean, simply scroll down halfway and it turns … Continue reading

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

Avuncular oversight

First, a point of grammar: the English language has one of the largest vocabularies in the world, and yet there is no female equivalent of the word “avuncular”.  People have suggested “aunticular”, but that’s a bit ugly, isn’t it?  So … Continue reading

Posted in Due diligence, Money laundering, Supervision | Tagged , , , , , , | 1 Comment

A Hail Mary pass

(The opportunities for puns in this post are almost endless, so I will try to contain myself.)  On 4 July 2012, MONEYVAL published its first evaluation of the AML/CFT regime of the Holy See.  (I’ve always called it the Vatican, … Continue reading

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We’re all in this together – aren’t we…?

A few days ago I gave a presentation to the Jersey Compliance Officers’ Association (thank you for inviting me) and as I looked around the room, I was delighted to see so many young faces.  I’m not suggesting there’s been … Continue reading

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Straight from the horse’s wallet

The Cheltenham Gold Cup steeplechase takes place at 3.20pm today, and it seemed an auspicious day on which to raise a long-standing question of mine: why are bookies not covered by the Money Laundering Regulations?  I know that if you … Continue reading

Posted in Money laundering, Organised crime, Supervision | Tagged , , , , , , , | 3 Comments

I ♥ the FATF (when they prove me right)

Unless you have been on retreat in an ashram or stuck in the fog in Guernsey, you will know that the Financial Action Task Force has recently issued a revised version of its 40+9 Recommendations.  For a start, it’s now … Continue reading

Posted in Legislation, Money laundering, Regulation, Supervision | Tagged , , , , , , | 3 Comments

Girl guidance

You know how there are some words you find yourself saying dozens of times a day – diligence, laundering, chocolate.  Well, one I use more than most is “guidance”.  I must have said it a hundred times yesterday, when I … Continue reading

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The spirit is willing but the risk is too great

At a recent training session, when I was explaining the mechanics of Hawala banking, someone asked, “Why don’t we just make it part of the AML regulations?”.  Well.  Quite.  I had gone through the usual stuff about alternative remittance systems … Continue reading

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Sure, you can pat him

You know your neighbour with that enormous dog, the one that snoozes quietly in the garden most of the time, but you’re warned not to turn your back on him “because he’s a bit unpredictable”?  Well, that’s the FSA.  They … Continue reading

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