According to the OCCRP, 22 transactions to the value of $4,447,417 were routed through MAURITIUS: Click here to see the interactive map: http://bit.ly/2mHh5Dd Background Between 2010 and 2014, at least $20.8 billion was laundered out of Russia, funnelled into banks in Moldova and Latvia, and spread from there into 96 countries across the world. The […]
Read MoreDid Guernsey Bank Help Launder the Russian Laundromat Monies?
According to the OCCRP and the Guardian newspaper, some BRITISH banks are involved in the now infamous “Russian Laundromat” money laundering scheme. One such bank is the Royal Bank Of Scotland [RBS] – the amount claimed to be involved is $113.1m. They further claim Guernsey was part of the process; http://bit.ly/2nmyEp8 They have identified $149.925.00 […]
Read MoreUK PROSECUTIONS FOR MONEY LAUNDERING RIDICULOUSLY LOW
According to a freedom of information request by the London law firm Howard Kennedy. ONLY FIVE PEOPLE have been convicted of money laundering in the ten years since the legislation was tightened. The first conviction under the new regulations was not until 2012, with four further convictions in the following three years. The FOI request […]
Read MoreFUNDING TERRORISM – It is Staring us in the Face Every Day
It has been reported [http://bit.ly/2kvfduu] that some of the world’s biggest brands are unwittingly funding Islamic extremists, white supremacists and pornographers by advertising on their websites. How is this done? Simple, YouTube advertisements generate as much as $7.60 for their posters every 1,000 views; the brands were likely to have unwittingly channeled money to terrorist […]
Read MoreFinancial Services Compensation Scheme AND Professional Indemnity Insurance – Should They be in the Same Sentence?
I was interested to read in the JFSC press release as shown here: http://bit.ly/2mWf9p0, and in particular the following statement; As Jersey does not have a financial services compensation scheme (other than for Bank Deposits), the JFSC is keen to stress to Industry that adequate PII cover is essential for protecting clients as well as the firms […]
Read MoreThe link below is for UK Parliament re GDPR, you can download the audio and listen to it (which is what I did)
THE KEY POINTS RELATING TO C.I. ARE AS FOLLOWS EU Adequacy: only 9 territories comply so far, and it can take over three (3) years to gain compliance: USA DOES NOT COMPLY. Third Countries: The EU States cannot cooperate with third-countries that do not comply with Adequacy. The above helps in understanding why Emma Martins […]
Read MoreHow Much Has the FCA (FSA) Raised in AML fines?
The team at Comsure thought they would see how much money UK FCA (FSA) has raised in regulatory AML fines. It seems that since 2002 the current total fine issue is approximately £269,201,500.00 – see our analysis:- http://bit.ly/2njasHc – please let us know if we have missed one or whether we have made a mistake. Ps:- Guernsey […]
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