Tag: Money Laundering
Part State-owned enterprises and Politically Exposed Persons
28 February 2020 - Money Laundering Amy Edwards
The definition of a Politically Exposed Person (PEP) is an important one to understand for those involved in financial crime compliance. PEPs are considered to be more vulnerable to corruption so those who deal with them are often obliged to exercise a higher degree of caution. Under UK money laundering laws, dealing with a PEP › Read More
10 January 2020 - Money Laundering Amy Edwards
Changes to the UK anti-money laundering regime come into force today, implementing the EU’s Fifth Anti-Money Laundering Directive (5MLD) and Financial Action Task Force (FAFT) recommendations. We summarise the key changes made to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) by the Money Laundering and Terrorist › Read More
SARS extended moratorium period used sparingly, reveals NCA report
06 December 2019 - Money Laundering , White Collar Crime Robin Marshall
The NCA Suspicious Activity Reports Annual Report 2019 reports that the NCA received a record number of SARs, including over 50% more requests for a Defence Against Money Laundering (DAML). While the number of DAML SARs that are granted remains high, the use of a new power to extend the moratorium period to up to › Read More