Tag Archives: suspicion

Some are more equal than others

Posted on August 9, 2017 by

The connection between PEPs [politically exposed persons] and money laundering is recognised: with access to public influence and public money, these individuals in positions of high public service can fall prey to their baser desires and start feathering their private … Continue reading →

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

The law of the wild

Posted on July 26, 2017 by

In a quest to find a country that is still outward-looking and welcoming, I am going to have a look at Canada this summer.  Although I will still be keeping a weather eye on all things AML, please note that … Continue reading →

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

Measuring the uncountable

Posted on July 5, 2017 by

One of the hardest aspects of any AML regime is measuring its effectiveness.  A bit like insurance, it’s trying to quantify what might have happened if you hadn’t had it.  (That sounds like a nightmare sentence from the translation paper … Continue reading →

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

More haste, less progress

Posted on May 15, 2017 by

I’m one of those annoying people who take deadlines really, really seriously.  Last year I accidentally prepared two tax returns because I did the first one so far in advance of the deadline that I clean forgot that I had … Continue reading →

Posted in Legislation, Money laundering | Tagged , , , , , , , | Leave a comment

Idling in neutral

Posted on February 24, 2017 by

One of the difficulties of running a specialist, one-person business is providing relevant training for the staff – i.e. me.  If an AML conference looks particularly ground-breaking I will sign up, but many of them go over (what is to … Continue reading →

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

Do as I say

Posted on February 20, 2017 by

I’m going to do to you what is often done to me: I am going to tell you my own anti AML story.  Actually, it’s an anti anti AML story – you’ll see. In deference to the diktats of the … Continue reading →

Posted in AML, Due diligence, Money laundering | Tagged , , , , , | 7 Comments

Artful dodges?

Posted on February 1, 2017 by

I have written before about the potential for money laundering presented by the art world.  Of course, I know this in theory only: I have never once been the customer of an art auction house.  (I spent some childhood years … Continue reading →

Posted in AML, Money laundering, Publications | Tagged , , , , , , , , , , | Leave a comment

It pays to check

Posted on November 30, 2016 by

Last week I watched a programme called “What Britain Earns with Mary Portas”.  Although the title suggests that this was a limited look at the earnings of people who are in business with Mary Portas, it was in fact a … Continue reading →

Posted in AML, Due diligence | Tagged , , , , , , | Leave a comment

Please hold – for six months

Posted on October 28, 2016 by

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

Ignorance is the worst defence

Posted on October 24, 2016 by

In Hong Kong recently, an Indonesian domestic worker who allowed a friend to use her bank account to deposit the proceeds from a loan-sharking business (which charged interest rates of 1,000%) was jailed for money laundering.  At her trial, Ms … Continue reading →

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