Tag Archives: enhanced due diligence

The Emirate strikes back

Posted on August 18, 2021 by Susan Grossey author

MLROs are used to reacting to lists and warnings issued by governments and by agencies such as the FATF. But when things change rapidly in a jurisdiction, it may be unwise to wait for an official notification, and more sensible … Continue reading →

Posted in Uncategorized | Tagged Afghanistan, APG, Asia/Pacific Group on Money Laudering, EDD, enhanced due diligence, FATF, Financial Action Task Force, high risk jurisdiction, MER, MLRO, mutual evaluation report, Tunisia, Turkey | Leave a comment

Grey clouds are gathering

Posted on June 23, 2021 by Susan Grossey author

I want to talk about the FATF. First, I think it’s called the “eff-ay-tee-eff” – not “fat-fee” or (occasionally) “faft”. And second, I’m interested in the significance of their grey list (officially, their list of jurisdictions under increased monitoring). Not … Continue reading →

Posted in Uncategorized | Tagged AML, EDD, enhanced due diligence, FATF, Financial Action Task Force, high risk jurisdiction, jurisdiction, MLRO, money laundering, National Risk Assessment, SOF/SOW, source of funds, source of wealth | 5 Comments

Ho-ho-ho and CDD

Posted on December 23, 2020 by Susan Grossey author

I am assuming that one or two of you might be at work today, so let us turn our AML minds to an important seasonal matter: conducting CDD on Father Christmas. For this particular individual even the most basic identity … Continue reading →

Posted in Uncategorized | Tagged CDD, Christmas, client due diligence, corruption, due diligence, enhanced due diligence, FATF, identity, PEP, Politically Exposed Person, source of funds, source of wealth | 6 Comments

Muzzle those compliance watchdogs

Posted on September 28, 2015 by Susan Grossey author

I went on a Grand Day Out to London last week, and on my way home avoided catching up with emails by reading the (now free) Evening Standard. My eye was caught, of course, by a story about compliance, because … Continue reading →

Posted in AML, Due diligence, Uncategorized | Tagged AML, due diligence, enhanced due diligence, Financial Conduct Authority, financial crime, money laundering, proceeds of crime, risk-based approach | 4 Comments

Cramped corporate quarters

Posted on June 26, 2015 by Susan Grossey author

Like many of you, I am sure, my interest was piqued last week by the story that broke on the Beeb (or at least that’s where I first heard it) about shell companies in Scotland allegedly being used to launder … Continue reading →

Posted in AML, Money laundering | Tagged AML, beneficial ownership, due diligence, enhanced due diligence, financial crime, money laundering, research, suspicion | 10 Comments

Exalted due diligence

Posted on August 20, 2012 by Susan Grossey author

Looking at my trusty OED (and yes, I still use a paper one), “to enhance” is “to increase the quality, value or extent of”. Possible synonyms (I assume the FATF looked at these at some point) include to amplify, to … Continue reading →