Category Archives: Supervision

This may be the word of the Lord

Posted on May 22, 2013 by Susan Grossey author

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 AML, communication, disclosure, due diligence, financial crime, FIU, legislation, money laundering, organised crime, proceeds of crime, publications | 2 Comments

Avuncular oversight

Posted on September 5, 2012 by Susan Grossey author

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 AML, communication, due diligence, financial crime, ML Regulations, MLRO, training | 1 Comment

A Hail Mary pass

Posted on July 27, 2012 by Susan Grossey author

(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 →

Posted in AML, Legislation, Supervision | Tagged AML, FATF, Financial Action Task Force, FIU, money laundering, MONEYVAL, Vatican | 2 Comments

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

Posted on July 6, 2012 by Susan Grossey author

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 →

Posted in AML, Due diligence, Supervision | Tagged AML, due diligence, legislation, regulation, supervision | Leave a comment

Straight from the horse’s wallet

Posted on March 16, 2012 by Susan Grossey author

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 due diligence, financial crime, legislation, ML Regulations, money laundering, organised crime, proceeds of crime, tax evasion | 3 Comments

I ♥ the FATF (when they prove me right)

Posted on February 29, 2012 by Susan Grossey author

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 due diligence, FATF, Financial Action Task Force, financial crime, money laundering, proceeds of crime, tax evasion | 3 Comments

Girl guidance

Posted on September 28, 2011 by Susan Grossey author

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 →

Posted in Legislation, Regulation, Supervision | Tagged AML, FSA, guidance, legislation, ML Regulations, money laundering, training | Leave a comment

The spirit is willing but the risk is too great

Posted on September 23, 2011 by Susan Grossey author

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 →

Posted in AML, Legislation, Regulation, Supervision | Tagged AML, communication, fines, legislation, ML Regulations, money laundering, regulators, supervision | Leave a comment

Sure, you can pat him

Posted on July 22, 2011 by Susan Grossey author

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 →