Tag Archives: NCA

Is that wig made of wool or wolf?

A phrase I use quite often in training is, “You’d think so, wouldn’t you?”.  As in, “If the payment is coming to us from another regulated bank, won’t they have done all the checks?”  Or, “Given that CDD checks have … Continue reading

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Money launder-bling

Working in Guernsey this week, I was talking to a client about the concept of the High Value Dealer (under local legislation, those who “[trade] in goods where there is received… a payment or payments in cash of at least … Continue reading

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Operational concerns

It’s the silly season for news (although with Trump and Brexit, it’s hard to tell the difference) so here’s my contribution.  I was paging through the latest annual report from the National Crime Agency, released on 20 July, and I … Continue reading

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Blind faith

The term “professional enabler” has a menacing tone to it, I always think.  We started hearing it back in 2014, when the UK’s National Crime Agency, in its “High End Money Laundering Strategy and Action Plan”, observed this: “The ability … Continue reading

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The UK’s reporting report card

Well, we in the UK are streets ahead of our EU neighbours in one regard at least: the number of SARs we submit to our FIU.  At the start of September, Europol published a report entitled “From Suspicion to Action: … Continue reading

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What’s in a name?

Name changes are a tricky thing.  Remember when Royal Mail decided to call itself Consignia?  That lasted for about a year until it was quietly shelved.  (Mind you, Brad’s Drink was renamed Pepsi-Cola in 1898, and that seems to have … Continue reading

Posted in Due diligence, Legislation, Money laundering | Tagged , , , , , , , , , | 4 Comments

Paying the piper

On 16 November 2016, the UK government’s Home Affairs Select Committee concluded its examination of the UK’s proceeds of crime regime by publishing the government response to the fifth report of the committee in the form of an appendix to … Continue reading

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Please hold – for six months

The Criminal Finances Bill is out, described in the Home Office press release as “legislation to tackle money laundering and corruption, recover the proceeds of crime and counter terrorist financing”.  When it was at the consultation stage, I responded – … Continue reading

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

Most wanted

I’m not allowed to watch “Crimewatch”; my husband says that what with the money laundering and the magistracy and the financial crime fiction, I’m too obsessed with crime as it is.  He has a point.  But when he’s away, I … Continue reading

Posted in Due diligence, Money laundering, Organised crime | Tagged , , , , , , , , , , , | 5 Comments

SARs as information-sharing triggers?

Earlier this week, the head of the National Crime Agency, Keith Bristow, announced that his agency had entered into an information-sharing agreement with the ten largest British banks.  I have tried without success to find an official press release on … Continue reading

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