Tag Archives: proceeds of crime

If money laundering were legal…

Posted on July 21, 2021 by ihatemoneylaundering

Well, I’m back, having spent a week in the Suffolk countryside, which encourages a slowing of the pace and a contemplating of the navel. Just before I went away, a fellow AML enthusiast called Dev Odedra posed this question in … Continue reading →

Posted in Uncategorized | Tagged AML, due diligence, financial crime, legislation, MLRO, money laundering, proceeds of crime, tax avoidance, tax efficiency, tax evasion | 7 Comments

A nose for trouble

Posted on May 26, 2021 by ihatemoneylaundering

My usual watchwords for this blog are (in ascending order of emotion) “disappointment”, “indignation” and “outrage”. But this week it is “awwwww”, because it’s all about a litter of cuddly, snuggly puppies. Last week the Metropolitan Police’s Dog Training Establishment … Continue reading →

Posted in Uncategorized | Tagged AML, cash, forfeiture, Metropolitan Police, money landering, proceeds of crime, seizure | 2 Comments

Great-grandpapa’s billions

Posted on December 2, 2020 by ihatemoneylaundering

Like many of you, I have been reading “Kleptopia” by investigative reporter Tom Burgis. It’s both wonderfully well-written and terrifically depressing. If there’s a British PM in the past twenty years who hasn’t been advising foreign kleptocrats on how to … Continue reading →

Posted in Uncategorized | Tagged "Kleptopia", AML, CDD, due diligence, kleptocrat, MLRO, money laundering, PEP, proceeds of crime, seizure, source of wealth, Tom Burgis, white collar crime | 1 Comment

Latest leak lessons

Posted on September 23, 2020 by ihatemoneylaundering

This is a tricky time to write a blog post, as everywhere is swirling with stories from the “FinCEN Files”. I have explored the leaks on the ICIJ website, read the reputable (and disreputable) press sources and watched the “Panorama” … Continue reading →

Posted in AML, Money laundering, White collar crime | Tagged AML, communication, corruption, due diligence, Economist, financial crime, government, legislation, MLRO, money laundering, organised crime, Panorama, PEP, proceeds of crime, research, SARs, suspicion, suspicious activity report, white collar crime | 4 Comments

Sixth sense

Posted on September 16, 2020 by ihatemoneylaundering

Right, here’s a little quiz for you: as of today, it’s 78 days until what? Points deducted if you simply say, “Thursday 3 December” – although points added if you know that that’s my mother-in-law’s birthday [note to self: remind … Continue reading →

Posted in AML, Legislation, Money laundering | Tagged AML, Fifth Money Laundering Directive, financial crime, government, legislation, MLD5, MLD6, money laundering, organised crime, proceeds of crime, Sixth Money Laundering Directive, tax evasion | 6 Comments

Osh Ghosh begone

Posted on September 2, 2020 by ihatemoneylaundering

I have had no legal training, but on the plus side I have a high boredom threshold and I love reading – both of which are, I believe, essential for lawyers. This means that I can generally work my way … Continue reading →

Posted in Legislation, White collar crime | Tagged dishonesty, due diligence, financial crime, Ghosh, government, honesty, legislation, organised crime, proceeds of crime, training, white collar crime | 5 Comments

Is that why it’s called a PEP rally?

Posted on August 26, 2020 by ihatemoneylaundering

I am of An Age where every working surface in our house has been equipped with a cheap pair of reading glasses – who knows when I will need to read that care label, cooking instruction or baffling piece of … Continue reading →

Posted in AML, Due diligence, Legislation, Money laundering | Tagged AML, Bank Secrecy Act, due diligence, FATF, financial crime, government, legislation, money laundering, organised crime, PEP, Politically Exposed Person, proceeds of crime, tax evasion, white collar crime | 4 Comments

Friends in low places

Posted on July 15, 2020 by ihatemoneylaundering

For my sins, I start every working day with a trawl of the latest money laundering stories. As I scan them, I am doing mental triage: Really significant developments go onto the Newsroom page of my website Those, and other … Continue reading →

Posted in AML, Money laundering | Tagged adverse media, AML, due diligence, financial crime, MLRO, money laundering, proceeds of crime, reputation, risk-based approach, suspicion, white collar crime | 2 Comments

Performance negated pay

Posted on July 8, 2020 by ihatemoneylaundering

Much has been written in recent weeks about the pandemic’s impact on AML endeavours – how to conduct CDD checks on clients who cannot leave their homes, and whether to accelerate acceptance of online CDD documents (is the risk of … Continue reading →

Posted in AML, Due diligence, Money laundering | Tagged AML, bonus, due diligence, financial crime, MLRO, money laundering, proceeds of crime, remuneration, risk-based approach, training | Leave a comment

Data doom and delight

Posted on June 24, 2020 by ihatemoneylaundering

With writing a post once a week only (I’ve fallen into writing longer posts less frequently – hope that’s OK), there’s sometimes a bit of a delay until I get round to dealing with something that’s been in the news. … Continue reading →