The Serious Fraud Office’s (SFO) Corporate Co-operation Guidance has arrived in the form of a five-page document. https://www.sfo.gov.uk/download/corporate-co-operation-guidance/ In it, the SFO defines co-operation as “providing assistance to the SFO that goes above and beyond what the law requires” and details eleven general practices that companies should consider when preserving material and giving it to […]
Read MoreNews
Using your social media at work may have calamitous consequences – KPMG dismisses Financial Services Head after conduct probe story
1. Tim Howarth, Head of Financial Services Consulting and Risk Consulting at KPMG, has left the company following an internal investigation into his conduct. Howarth was previously a senior manager at the FCA’s predecessor, the Financial Services Authority (FSA). 2. Howarth, who had worked for KPMG for 15 years, was investigated over allegations of misconduct […]
Read MoreJersey courts criticise ‘no consent’ regime….AGAIN!!!
The issue of the ‘no consent’ regime in Jersey has recently been considered in the Jersey courts as part of an application to judicially review and quash the decision of the JFCU to refuse to consent to the normal operation of a bank account. Judgement say This is an application to judicially review and quash […]
Read MoreAn Overview of Cuban OFAC Sanctions and Key Tips on How to Deal With the Ongoing Changes
What Are The Current Sanctions Against Cuba? At the moment, the embargo against Cuba is still in full force. Though it is quite clear that some high-ups in the U.S. Government would like to see that change. In 2010, a bill was re-introduced by Congressman Collin Peterson, which would bar the President from prohibiting travel […]
Read MoreMoney laundering CPD fortnightly podcast – latest edition is out now
The Suspicious Transaction Report is a new fortnightly podcast from the Centre for Financial Crime and Security Studies at RUSI. https://rusi.org/expertise/research/centre-financial-crime-and-security-studies The podcast offers ‘behind-the-scenes’ insights and practical advice on how to implement the latest financial crime research in the real world. In this preview episode of the ‘Suspicious Transaction Report’ podcast, Isabella Chase talks […]
Read MoreFinCEN Launches Division to Identify Foreign Money Laundering Threats
The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has launched a new division dedicated to international money laundering investigations and its use of “special measures” under the USA Patriot Act. The bureau’s Global Investigations Division (GID), announced Wednesday, will oversee the implementation of “targeted investigation strategies,” including its utilization of powers granted by Sec. 311 of […]
Read MoreIntroducing Forensic Finance, a podcast exploring how banks can help solve global issues
Ever listened to This American Life, the mother of all storytelling podcasts? If not, you should. If yes, you know it’s a weekly podcast that runs about an hour per episode. It’s made by a team of about 20 people. I’ve always been impressed by the frequency and quality of their output. After creating a […]
Read MoreOTP’s Bulgarian unit fined for data breach affecting over 33,000 clients
SOFIA (Reuters) – Bulgaria’s DSK Bank, a unit of Hungary’s OTP Group, has been fined 1 million levs ($569,930) for a data breach that afffected over 33,000 clients, the country’s Commission for Personal Data Protection said on Wednesday. The personal data watchdog said the full names, addresses, copies of ID cards as well as bank […]
Read More