Tag Archives: proceeds of crime

The dawning of reality

Posted on October 17, 2018 by

When I read this story, I had to check the date and make sure that it wasn’t April Fools’ Day, but no, it seems that it’s on the level.  A large Irish law firm called Matheson has launched a phone … Continue reading →

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Brains as well as brawn

Posted on October 12, 2018 by

Maybe it’s because it sounds like complaint, but I often encounter the assumption that people who work in compliance are dreary, dull fellows, nit-picking and carping for a living, finding fault in other people’s work and lives, and generally being … Continue reading →

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

The devil in the detail

Posted on October 8, 2018 by

I had an interesting phone call with a compliance officer the other day – she will recognise herself in this description.  We were talking about a possible suspicion, and I was impressed by both her attention to detail and her … Continue reading →

Posted in AML, Money laundering | Tagged , , , , , , , , | 1 Comment

The conviction that keeps on giving

Posted on October 3, 2018 by

It’s an old joke – “I’ve been married for twenty years; you get less for murder” – but in the UK, at least, that’s true.  According to reputable research, the average sentence for a murderer in the UK is sixteen … Continue reading →

Posted in AML, Money laundering, White collar crime | Tagged , , , , , , , , , | 10 Comments

The bank of äiti ja isä

Posted on September 28, 2018 by

I have written before about money laundering staying in the family but it is usually only the adults who are involved.  A recent Finnish case has trodden new ground, with the conviction of a young man – sixteen at the … Continue reading →

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

Is that wig made of wool or wolf?

Posted on September 24, 2018 by

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 →

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

Money launder-bling

Posted on September 19, 2018 by

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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White collar crime

Posted on September 14, 2018 by

I’m back from my hols and – as promised – I did not succumb to the flattering blandishments of Karen Pierce, UN Officer, but rather immersed myself in history and gelato in Naples and then on the island of Ischia.  … Continue reading →

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

A bum note

Posted on August 22, 2018 by

It’s on its way out, that banknote of choice for the money laundering fraternity: on 4 May 2016 the European Central Bank announced that it will stop issuing the €500 note at the end of 2018, “taking into account concerns … Continue reading →

Posted in Money laundering, Terrorist financing | Tagged , , , , , , | 9 Comments

You say potato, I say prison

Posted on August 13, 2018 by

It’s becoming something of theme, isn’t it – professional enablers?  I’ve certainly blogged about it before, as in this post.  And just last month the Financial Action Task Force released their own report into the phenomenon, entitled “Professional Money Laundering”.  … Continue reading →

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