Tag Archives: FCA

Another disappointing report card

Posted on December 1, 2021 by Susan Grossey author

You know only too well my views (here and here, for instance) on the ridiculously over-crowded AML supervisory “space” in the UK: we have three statutory supervisors (the Financial Conduct Authority, HMRC and the Gambling Commission) and then 22 “professional … Continue reading →

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Less than super-vision

Posted on September 29, 2021 by Susan Grossey author

I assume most of you know how I feel about the theory of OPBAS – i.e. that the solution to the fragmented and conflicting AML/CFT supervision arrangements in the UK is not to rationalise the number of supervisors but rather … Continue reading →

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Could do better

Posted on August 25, 2021 by Susan Grossey author

One of my most over-used phrases in my AML training is “new entrants to the AML family” – when I am explaining that we cannot expect all sectors (e.g. estate agents, art market participants) to be as au fait with … Continue reading →

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Loophole in the wall

Posted on April 7, 2021 by Susan Grossey author

Cash is a problem during a pandemic.  Cash-intensive businesses like nail bars cannot trade, and takeaway food outlets have turned into delivery hubs with payment in advance by card.  Luckily, anyone desperate to offload their criminal cash has a new-ish … Continue reading →

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The young and the riskless

Posted on March 24, 2021 by Susan Grossey author

I never thought I’d say this, but there are two great advantages to being 55: (a) I’ve had my first covid jab (one shivery night afterwards but apart from that – woohoo!), and (b) I’m not being targeted quite as … Continue reading →

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Mind your own business

Posted on March 17, 2021 by Susan Grossey author

One of the trickier aspects of the MLRO’s job is the juggling act they have to perform to keep everyone happy – staff, Board (or whatever their firm’s top layer of control is called), regulators and investigators.  Although this can … Continue reading →

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Head, brick wall, etc.

Posted on January 6, 2021 by Susan Grossey author

I first started designing and delivering AML training in 1996.  That’s a full quarter-century ago.  And can you imagine how many times I have said, over those twenty-five years, things like “check regularly for PEPs – regulators are hot on … Continue reading →

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Video killed the KYC star

Posted on November 18, 2020 by Susan Grossey author

I have been very lucky during my career: thanks to my insatiable quest for information about money laundering and AML, I have learned so much from so many people.  The key, I think, is to listen carefully and to see … Continue reading →

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Too much of a bad thing

Posted on April 3, 2019 by Susan Grossey author

Please may I distract you from the festering plague sore that is Brexit by drawing your attention instead to something we Brits do rather well, which is AML supervision.  In fact we’re so good at this that we have dozens … Continue reading →

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The concept of anonymous publication

Posted on December 12, 2018 by Susan Grossey author

We all have a talent, and mine is words.  I love reading and writing them, my spelling is pretty crash-hot, and if I am trying to remember something, I tend to see it as a word, e.g. “I’ve forgotten his … Continue reading →

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