Tag Archives: FSA

Just fancy window-dressing?

In a training session today, someone asked me a question that I have not been asked before – I do love it when that happens.  (And before you rush off to your “Big Book of Fiendishly Difficult University Challenge Physics … Continue reading

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

Tender is the process

As a one-person business (and proud of it – except when it comes to a rather lonely Christmas party), I rarely get involved in tendering (tenderising?).  Usually someone contacts me, says “Can you do our training?”, and I say “Oh, … Continue reading

Posted in Due diligence, Money laundering | Tagged , , , , , , , | Leave a comment

The FSA’s duck shoot

When I prepare a new training session, I always try to include a recent case study.  Money laundering stories are easy to find; naughty people are forever committing crimes and then shifting the proceeds around.  On the other hand, anti-money … Continue reading

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

That blind eye had better be really blind

For various reasons (obesession, mainly) I’ve just been reading the FSA’s Notices on Habib Bank and its MLRO Syed Itrat Hussain.  In case you missed it, on 4 May 2012 the FSA fined the bank £525,000 and the MLRO £17,500 … Continue reading

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

Investment banks don’t yet know their ABC

One of the most important lessons in life is how to prioritise things – how to spend your limited time, energy, money and other resources on the things that matter.  It’s the bedrock of the risk-based approach beloved (-ish) of … Continue reading

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PEPs cost Coutts dear

In its largest-ever financial penalty levied for AML failings, the FSA has fined Coutts & Co £8,750,000 for AML failings.  The full FSA notice is here, and it makes depressing reading – one might have hoped that the banker to … Continue reading

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

Girl guidance

You know how there are some words you find yourself saying dozens of times a day – diligence, laundering, chocolate.  Well, one I use more than most is “guidance”.  I must have said it a hundred times yesterday, when I … Continue reading

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Sure, you can pat him

You know your neighbour with that enormous dog, the one that snoozes quietly in the garden most of the time, but you’re warned not to turn your back on him “because he’s a bit unpredictable”?  Well, that’s the FSA.  They … Continue reading

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