Tag Archives: Financial Conduct Authority

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 →

Posted in Uncategorized | Tagged AML, due diligence, Economic Crime Plan, FATF, FCA, Financial Conduct Authority, Gambling Commission, HMRC, legislation, money laundering, mutual evaluation report, OPBAS, supervision | 2 Comments

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 →

Posted in Uncategorized | Tagged AML, business risk assessment, CDD, FCA, Financial Conduct Authority, MLRO, PEPs, Regulations, reporting, risk, SARs, suspicion, training | Leave a comment

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 →

Posted in Uncategorized | Tagged AML, ATM, banking, Bitcoin, cash, cryptocurrencies, FCA, Financial Conduct Authority, money laundering, money mule | 5 Comments

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 →

Posted in Uncategorized | Tagged FCA, Financial Conduct Authority, fraud, fraudster, investment, MLRO, money laundering, research, risk | Leave a comment

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 →

Posted in Uncategorized | Tagged AML, FCA, Financial Conduct Authority, Guernsey, guidance, money laundering, PEP, Politically Exposed Person, regulator, source of funds | 5 Comments

The plain un-SAR-nished truth

Posted on March 6, 2019 by Susan Grossey author

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 AML, disclosure, due diligence, FATF, Financial Conduct Authority, financial crime, FIU, government, National Crime Agency, National Risk Assessment, NCA, SARs, Solicitors Regulation Authority | 8 Comments

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 →

Posted in AML, Money laundering, Supervision | Tagged AML, communication, disclosure, due diligence, FCA, Financial Conduct Authority, Gambling Commission, government, Guernsey Financial Services Commission, HMRC, ML Regulations, money laundering, publications | 4 Comments

Made to measure

Posted on August 17, 2018 by Susan Grossey author

About once a year I will say in a dreamy voice, “Perhaps I should do a PhD in criminology…”. I love the idea of spending months in the library as I craft my thesis, and then becoming the first-ever Dr … Continue reading →

Posted in AML, Money laundering, Publications | Tagged AML, communication, due diligence, Financial Conduct Authority, financial crime, legislation, money laundering, publications, research, risk, risk appetite, white collar crime | 6 Comments

The sands of time

Posted on April 16, 2018 by Susan Grossey author

I know everyone laughs about jargon – business bingo, anyone? – but I think we’re all guilty of it to some extent. I know I expect everyone to understand me when I talk about AML, MLROs and the regulated sector, … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged AML, European Commission, FCA, Financial Conduct Authority, government, legislation, money laundering, regulation, research, sandbox | 8 Comments

Turned out fine again

Posted on November 29, 2017 by Susan Grossey author

The UK Chancellor’s budget is rarely a cause for much celebration, while the obligatory leaks in the days beforehand suck every element of surprise out of his announcements, but one little gem might have passed you by on 22 November … Continue reading →