Tag Archives: FCA

PEP promises

My short AML survey is still live (until 31 March 2017) so please do have a go if you haven’t yet: https://www.surveymonkey.co.uk/r/VM62T6K A few days ago I mentioned that I have responded to a consultation on draft new money laundering regulations … Continue reading

Posted in AML, Legislation, Money laundering | Tagged , , , , , , , | 6 Comments

The slippery slope of blame

Last weekend we were at a local garden centre – they do lovely cakes – and outside the café they had set up a mock garden.  In it was a children’s slide, with a sign propped up on its steps: … Continue reading

Posted in AML, Money laundering, Publications | Tagged , , , , , , , | 3 Comments

Susan versus the Machine

Last week, while on holiday in Suffolk, I visited Southwold Pier.  One of the attractions there is a room of novelty machines – a mechanical dog that you can walk, an armchair for taking a three-minute holiday, a “bash the … Continue reading

Posted in Money laundering | Tagged , , , , , | 3 Comments

Has AML been ousted?

Last week, Barclays in the UK was fined £72,069,400 by the Financial Conduct Authority for “failing to minimise the risk that it may be used to facilitate financial crime” while processing a £1.88 billion “elephant deal” (i.e. stonking great deal) … Continue reading

Posted in AML, Money laundering | Tagged , , , , , | 3 Comments

Dire warnings

They say that if you can’t be a good example, then aim to be a dire warning instead.  And this is always the spirit in which I have read reports of “findings” – the more palatable term for regulatory punishments.  … Continue reading

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A regime of responsibilities

On 7 July, the Financial Conduct Authority issued its final rules on the Senior Managers Regime (I long to put an apostrophe in there, but the regulator has decreed it apostrophe-free, and I’m nothing if not obedient to regulatory decree) … Continue reading

Posted in Due diligence, Legislation | Tagged , , , , , , , | Leave a comment

Wonky perceptions of risk

I’ve been mulling, as you do, and I’m a bit concerned about the Corruption Perceptions Index published annually by Transparency International.  It is a fine index, to be sure, and one I consult regularly myself, but it’s not the answer … Continue reading

Posted in AML, Bribery and corruption, Due diligence | Tagged , , , , , , , | 2 Comments

The FCA rows into high risk waters again

An eagle-eyed reader in Guernsey (thanks, Guy) was perusing the FCA’s recent Final Notice on the Bank of Beirut, and spotted this in paragraph 2.8: “The [FCA] therefore imposes on Bank of Beirut: (1) [a fine]; and (2) a restriction … Continue reading

Posted in AML, Due diligence, Money laundering | Tagged , , , , , , , | 6 Comments

The FCA’s to do list for this year

This week the UK’s Financial Conduct Authority has looked into its crystal ball and published its “Business Plan 2015/16”.  Whereas previous editions of this document were accompanied by a Risk Outlook, this time the two have been united into one … Continue reading

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

Now you see it…

My husband (who subscribes to this blog – well, we need something to talk about over dinner) commented the other day that my posts are much longer than they used to be.  He’s right: my early posts were about 200 … Continue reading

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