Tag Archives: FATF

The law(yer) is an ass

Posted on August 7, 2019 by

AML efforts tend to move in one direction: more, greater, stronger, bigger – whatever the right adjective may be.  Occasionally we see an unwinding (as when many jurisdictions removed general insurance business from the AML family) but for the most … Continue reading →

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

FATF 1, EU 0

Posted on July 17, 2019 by

The Fourth Money Laundering Directive brought us many delights, including Article 9: “Third-country jurisdictions which have strategic deficiencies in their national AML/CFT regimes that pose significant threats to the financial system of the Union (‘high-risk third countries’) shall be identified … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged , , , , , , , , , , , , | 5 Comments

Facecrook?

Posted on July 10, 2019 by

Here’s what I have read about Facebook Libra: According to the Financial Times, it is “a new global digital currency backed by assets and supported by more than two dozen companies ranging from Visa and Mastercard to Lyft and Spotify”. … Continue reading →

Posted in AML, Money laundering, Regulation, Supervision, Terrorist financing | Tagged , , , , , , , , , , , , | 5 Comments

The plain un-SAR-nished truth

Posted on March 6, 2019 by

Remember when Hugh Grant was PM in “Love Actually” and he found out that his tea-lady’s ex-boyfriend had been nasty to her and offered to have the scoundrel assassinated by the “absolutely charming” SAS?  “Ruthless trained killers are just a … Continue reading →

Posted in AML, Money laundering, Organised crime, Supervision | Tagged , , , , , , , , , , , , | 8 Comments

Cleaning house

Posted on February 27, 2019 by

Last week I attended an event at the elegant Whitehall premises of RUSI at which they launched “No Rest for the Wicked”, their report into what the UK’s next steps should be, now that we have (to quote the modest … Continue reading →

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

Big worries about small accounts

Posted on November 15, 2017 by

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 →

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Curiosity might save the cat

Posted on January 23, 2017 by

One of the management buzz-phrases that seems to be staying the course is “tone from the top”.  In the world of AML, the tone from the top has in fact originated at the bottom: first we had MLROs beating the … Continue reading →

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Who’s on the FATF’s naughty step?

Posted on July 1, 2016 by

So the FATF’s latest take on their list of naughty countries – or, more properly, those jurisdictions with strategic AML/CFT deficiencies – is out.  Their latest plenary meeting, this time in Busan in Korea, ended on 24 June 2016, and … Continue reading →

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Bad little bywords

Posted on April 18, 2016 by

Thank heavens for alliteration, I say.  In today’s crowded, tweeting, 24-hour news world, we don’t have to say “the leak of eleven million documents from the offices of law firm Mossack Fonseca”, but instead can save valuable milliseconds by referring … Continue reading →

Posted in Bribery and corruption, Money laundering | Tagged , , , , , , , , | Leave a comment

Credit where credit is due

Posted on March 14, 2016 by

I’m about to get onto my soap-box again, so you have been warned.  Last week I mentioned the recently-published INCSR 2016, with its summaries of jurisdictions of primary money laundering concern.  In a comment on that, a Guernsey reader has … Continue reading →

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