Tag Archives: National Crime Agency

The woes of UWOs

Posted on April 21, 2021 by Susan Grossey author

Unexplained Wealth Orders are now three years old. Although many would like to see their reach expanded – divorce lawyers are particularly interested – they remain available only in cases involving PEPs or those suspected of serious criminality. And indeed, … Continue reading →

Posted in Uncategorized | Tagged AML, CDD, Criminal Finances Act 2017, Mansoor Mahmood Hussain, MLRO, money laundering, National Crime Agency, NCA, source of funds, source of wealth, suspicion, Unexplained Wealth Order, UWO, Zamira Hajiyeva | Leave a comment

Faint at art

Posted on March 31, 2021 by Susan Grossey author

It’s a tricky thing, art. No – I don’t mean those arguments over whether an unmade bed or a black painted square is art, but the deliberations about when the art world is part of the AML community and when … Continue reading →

Posted in Uncategorized | Tagged AML, art, art market participant, cash, Fifth Money Laundering Directive, Fourth Money Laundering Directive, High Value Dealer, MLD4, MLD5, money laundering, National Crime Agency, National Economic Crime Centre, NCA, NECC, SARs | 1 Comment

Back to school

Posted on February 24, 2021 by Susan Grossey author

When I was eleven I spent four terms in a girls’ boarding school in Worcestershire – as an only child I did not take well to the lack of privacy, and by far my fondest memory is of a day … Continue reading →

Posted in Uncategorized | Tagged AML, bribery, CDD, corruption, money laundering, monitoring, National Crime Agency, NCA, OCCRP, PEP, Russian Laundromat, Transparency International | 6 Comments

Save our SARs

Posted on October 28, 2020 by Susan Grossey author

I am a fan of the philosophy of SARs: I think it is correct that businesses handling client money should be obliged to report to the authorities if they suspect that that money is the proceeds of crime or connected … Continue reading →

Posted in Uncategorized | Tagged AML, banking, Hong Kong, investigation, legislation, money laundering, National Crime Agency, NCA, reporting, SARs, suspicious activity report, terrorist financing | 2 Comments

The new crimino-normal

Posted on May 20, 2020 by Susan Grossey author

Much as I try to ignore it – otherwise it absorbs our every waking moment, and some of our nightmares – I do occasionally find that there is an interesting nexus between the coronavirus and money laundering. And this week … Continue reading →

Posted in AML, Money laundering | Tagged AML, bureau de change, due diligence, financial crime, money laundering, MSBs, National Crime Agency, NCA, organised crime, proceeds of crime | 2 Comments

No, no, no to UWO, UWO, UWO

Posted on April 29, 2020 by Susan Grossey author

Most of us in the world of AML have welcomed the advent of the Unexplained Wealth Order – the court order introduced by the Criminal Finances Act 2017, which can be served to compel either a PEP or someone involved … Continue reading →

Posted in AML, Bribery and corruption, Money laundering | Tagged AML, Azerbaijan, beneficial ownership, corruption, due diligence, financial crime, government, Kazakhstan, money laundering, National Crime Agency, NCA, PEP, Politically Exposed Person, proceeds of crime, suspicion, tax evasion, Unexplained Wealth Order, UWO | 2 Comments

The topic will be sin and that’s what I’m ag’in

Posted on April 15, 2020 by Susan Grossey author

At the beginning of April 2020 the UK’s National Crime Agency published its “National Strategic Assessment of Serious and Organised Crime 2020”. Of course, much of this report looks at the damage being done by criminals but – as instructed … Continue reading →

Posted in Fraud, Money laundering | Tagged asset forfeiture, financial crime, fraud, money laundering, National Crime Agency, NCA, proceeds of crime, suspicion, white collar crime | 2 Comments

The special joy of damage joy

Posted on January 15, 2020 by Susan Grossey author

I remember the first time I was told what schadenfreude means – pleasure derived from another’s misfortune. I quickly realised what an essential component of life it is, and thought how odd it is that only the Germans have seen … Continue reading →

Posted in AML, Due diligence, Money laundering | Tagged AML, due diligence, financial crime, Financial Reporting Order, government, legislation, money laundering, National Crime Agency, NCA, organised crime, proceeds of crime, Serious Crime Prevention Order, Travel Restriction Order | 4 Comments

The stink of money laundering

Posted on October 9, 2019 by Susan Grossey author

Have you ever fibbed slightly about what you do for a living (that you work in AML) in order to avoid yet another tedious story about someone’s grandma who was with her bank for 312 years and STILL had to … Continue reading →

Posted in AML, Money laundering | Tagged AML, Barclays, disclosure, due diligence, financial crime, money laundering, National Crime Agency, NCA, organised crime, proceeds of crime, Tony Hetherington | 9 Comments

Inside the tent but still p***ing in

Posted on May 8, 2019 by Susan Grossey author

In my guise as a magistrate I have become familiar with a thrilling document called the “Magistrates’ Court Sentencing Guidelines”. It’s an entirely public, well, publication, as justice is meant to be transparent and accessible to all. And if you … Continue reading →